When Bigger Isn't Better: Steak Size and Consumer Preferences

Josh Maples, Jayson Lusk and Derrell S. Peel

No 235432, 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts from Agricultural and Applied Economics Association

Abstract: The average cattle slaughter weight has increased more than 330 pounds over the past 40 years. With larger cattle have come larger steaks. In response, many retailers have begun offering thinner cuts to combat high total package prices. This article estimates consumer willingness to pay for beef steak dimensions using data from a national survey. Results imply that most consumers prefer thicker to thinner cuts steaks and that smaller surface areas are preferred to larger ones. Our estimates suggest that the forty-year increase in carcass weight has led to an $8.6 billion annual loss in consumer welfare resulting from changing steak size.

Keywords: Consumer/Household Economics; Livestock Production/Industries (search for similar items in EconPapers)
Pages: 33
Date: 2016
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea16:235432

DOI: 10.22004/ag.econ.235432

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