Consumer Willingness to Pay Price Premium for Credence Attributes of Livestock Products A Meta-Analysis method

W. Yang and A. Renwich
Authors registered in the RePEc Author Service: Wenyi Yang and Wei Yang

No 277320, 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia from International Association of Agricultural Economists

Abstract: Livestock production is increasingly being regarded as resource-intensive and is attracting concerns about animal welfare and environmental sustainability. As a result, consumer awareness of these issues has led to an increasing demand for products with high quality attributes that cannot be directly experienced or identified, namely credence attributes (CAs). To our knowledge, so far no study has systematically identified the value of price premium associated with credence attributes of livestock products. In an effort to understand this issue this study conducted a meta-analysis to examine consumers WTP for different credence attributes of livestock products based on a systematic review of relevant studies. Meta-regression models are used to control for the heterogeneity of WTP estimates and investigate factors that affect the estimation of WTP. There were 555 estimates derived from 94 papers reporting WTP. Meta-regression results established the presence of systematic WTP variation associated with types of products, CAs, and locations, yet also indicated that WTP is subject to systematic variation associated with study methodology. While results are promising with regard to the ability of research to provide insight regarding WTP for CAs, they also suggest that researchers should consider the potential for methodological effects when conducting empirical WTP analysis Acknowledgement :

Keywords: Consumer/Household; Economics (search for similar items in EconPapers)
Date: 2018-07
New Economics Papers: this item is included in nep-dcm, nep-env and nep-mkt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://ageconsearch.umn.edu/record/277320/files/1654.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:iaae18:277320

DOI: 10.22004/ag.econ.277320

Access Statistics for this paper

More papers in 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia from International Association of Agricultural Economists Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().