What do we learn from comparing hedonic scores and willingness-to-pay data?

Emilie Ginon, Pierre Combris, Youenn Loheac, Géraldine Enderli (geraldine.enderli@inrae.fr) and Sylvie Issanchou (sylvie.issanchou@dijon.inra.fr)
Additional contact information
Emilie Ginon: CSGA - Centre des Sciences du Goût et de l'Alimentation [Dijon] - INRA - Institut National de la Recherche Agronomique - UB - Université de Bourgogne - CNRS - Centre National de la Recherche Scientifique, LESSAC - Laboratoire d'Expérimentation en Sciences Sociales et Analyse des Comportements - BSB - Burgundy School of Business (BSB) - Ecole Supérieure de Commerce de Dijon Bourgogne (ESC)
Pierre Combris: ALISS - Alimentation et sciences sociales - INRA - Institut National de la Recherche Agronomique
Géraldine Enderli: CSGA - Centre des Sciences du Goût et de l'Alimentation [Dijon] - INRA - Institut National de la Recherche Agronomique - UB - Université de Bourgogne - CNRS - Centre National de la Recherche Scientifique, ALISS - Alimentation et sciences sociales - INRA - Institut National de la Recherche Agronomique
Sylvie Issanchou: CSGA - Centre des Sciences du Goût et de l'Alimentation [Dijon] - INRA - Institut National de la Recherche Agronomique - UB - Université de Bourgogne - CNRS - Centre National de la Recherche Scientifique

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Abstract: Consumer preferences for different variants of a given food product can be directly obtained with hedonic measurements or revealed with willingness-to-pay measurements. The aim of this paper is to present a comparison of the data collected using these two types of measurements on four data sets collected in our laboratory for different food products (bread, cooked ham, cheese and orange juice). This comparison was conducted at two levels (global and individual) and was based on two criteria: discrimination between variants and consistency in variant ranking. For the four data sets, hedonic measurements and willingness-to-pay measurements were collected for each participant in a 'full information' condition, i.e. in a condition where participants tasted each variant associated with extrinsic information. To reveal consumer willingness-to-pay, the BDM mechanism was used (Becker, DeGroot, & Marschak, 1964), which consists in real sales at a random price. Aggregate results were similar for the two measurements. In addition, in two out of four studies, willingness-to-pay measurements led to slightly higher discrimination between variants than hedonic measurements. At the individual level, more inconsistencies were found. This result is in line with previous studies. Nevertheless, participants were more consistent concerning the most-liked variant than concerning the least-liked variant. Our results also showed that hedonic score distributions did not reveal any cut-off point below which consumers chose the no-purchase option; this cut-off point largely depended on individuals and products.

Keywords: Willingness-to-pay; Hedonic scores; Consumer preferences; Consistency; Discrimination; Food valuation (search for similar items in EconPapers)
Date: 2014-04
New Economics Papers: this item is included in nep-agr and nep-mkt
Note: View the original document on HAL open archive server: https://hal.science/hal-00950490v1
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Citations: View citations in EconPapers (6)

Published in Food Quality and Preference, 2014, 33, pp.54-63. ⟨10.1016/j.foodqual.2013.11.003⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00950490

DOI: 10.1016/j.foodqual.2013.11.003

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