In-store valuation of steak tenderness

John Fox, Mohammad Koohmaraie, Jayson Lusk, James Mintert and Ted Schroeder

Framed Field Experiments from The Field Experiments Website

Abstract: Experimental methods were used to examine consumer willingness-to-pay for steak tenderness in a grocery store setting. When relying on a taste test alone to determine product quality, the participants paid an average premium of $1.23/lb for a tender versus tough steak. Fifty-one percent of the participants were willing to pay an average of $1.84/lb when they had completed a taste test and were also provided information about the steak's tenderness. Results indicate that most consumers prefer more tender steaks and that many are willing to pay a premium for tender steaks.

Date: 2001
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Citations: View citations in EconPapers (88)

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Related works:
Journal Article: In-Store Valuation of Steak Tenderness (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:feb:framed:00186

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