Consumer Choices and Welfare Gains from New, Healthy Products: A Virtual Prices Approach

Sonya K. Huffman, Ariun Ishdorj and Helen Jensen

ISU General Staff Papers from Iowa State University, Department of Economics

Abstract: This paper models consumer food choices with respect to different margarine and spread brands that include a new healthy brand. The results show that the older and smaller size households with higher income and higher education are more likely to purchase the healthy brand. An Almost Ideal Demand System for six brands was estimated and the coefficients were used to calculate price and brand expenditure elasticities in order to examine the responsiveness of the consumers to economic variables.

Date: 2005-01-01
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Working Paper: Consumer Choices and Welfare Gains from New, Healthy Products: A Virtual Price Approach (2005)
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