A Non-Hypothetical and Incentive Compatible Method for Estimating Consumer Willingness-to-Pay for a Novel Functional Food: The Case of Pomegranates

Callie P. McAdams, Marco Palma (), Ariun Ishdorj () and Charles R. Hall

No 103682, 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania from Agricultural and Applied Economics Association

Abstract: A preference and valuation mechanism that compared results of an experimental auction and nonhypothetical preference rankings was developed and used to elicit preferences for pomegranate products from a representative sample of shoppers in Texas. Familiarity with pomegranate products increased willingness-to-pay (WTP) for pomegranates, as did tasting and providing additional information on the health benefits of the products. Ready-to-eat and juice products were preferred to whole fruit products. Subjects did not indicate an increased WTP for Texas varieties over California Wonderful pomegranate based on auction bids but indicated a preference for one Texas variety in the nonhypothetical ranking procedure; thus, the auction results and nonhypothetical preference ranking procedures were divergent. Further, there were interaction effects of the information treatments with the product characteristics.

Keywords: Food Consumption/Nutrition/Food Safety; Marketing (search for similar items in EconPapers)
Pages: 2
Date: 2011
New Economics Papers: this item is included in nep-dcm
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea11:103682

DOI: 10.22004/ag.econ.103682

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