AN EXPERIMENTAL APPROACH TO ESTIMATING WILLINGESS-TOPAY FOR IMPROVEMENTS IN FOOD SAFETY

Kay Cao, John Gibson and Francis Scrimgeour

No 137802, 2005 Conference (49th), February 9-11, 2005, Coff's Harbour, Australia from Australian Agricultural and Resource Economics Society

Abstract: This paper presents the results obtained from two experimental auctions regarding consumer willingness-to-pay (WTP) for food safety improvements. The research found a positive WTP for food safety. However WTP amounts are different when participants bid with objective risk information as compared with the naive (bid without this risk information. There appears to be no significant difference in WTP regarding different magnitudes of risk reduction.

Keywords: Food Consumption/Nutrition/Food Safety; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 13
Date: 2005
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aare05:137802

DOI: 10.22004/ag.econ.137802

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