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Assessing Korean Consumers’ Valuation for BSE Tested and Country of Origin Labeled Beef Products

Sang Hyeon Lee (), Ji Yong Lee, Doo Bong Han and Rodolfo Nayga ()

No 149615, 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. from Agricultural and Applied Economics Association

Abstract: The objective of this study is to estimate Korean consumers’ willingness to pay (WTP) for beef products with BSE testing and country of origin labeling. We use a choice experiment to examine consumers’ valuation for beef products with these labels. In addition to analysis using the pooled sample, we also conduct sub-sample analyses based on consumers’ level of risk perception about beef consumption and selected socio-demographic characteristics. Results suggest that Korean consumers value BSE tested beef. They also have a preference for domestic beef vis-à-vis imported beef. When we conducted separate analysis between respondents who have low vs high risk perception about beef consumption, results suggest that those with high risk perception tend to value BSE testing more than country of origin labeling while those with low risk perception value country of origin labeling more than BSE testing. Moreover, results from separate analysis between respondents who have higher education vs lower education and between older vs younger respondents suggest that young or high educated respondents tend to value BSE testing and imported beef from countries which have not experienced BSE outbreaks more than do older or lower educated respondents.

Keywords: Agricultural and Food Policy; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Institutional and Behavioral Economics (search for similar items in EconPapers)
Pages: 23
Date: 2013
New Economics Papers: this item is included in nep-agr, nep-dcm, nep-exp and nep-mkt
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Journal Article: Assessing Korean Consumers' Valuation for BSE-Tested and Country of Origin Labeled Beef Products (2014) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea13:149615

DOI: 10.22004/ag.econ.149615

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