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Implicit Value of Retail Beef Product Attributes

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  • Ward, Clement E.
  • Lusk, Jayson L.
  • Dutton, Jennifer M.

Abstract

To identify the value consumers place on observable characteristics of fresh beef products, primary data were collected on over 1,350 packages of beef from 66 randomly selected grocery stores located in three metropolitan areas--Oklahoma City and Tulsa, Oklahoma, and Denver, Colorado. Estimated linear and log-linear hedonic models reveal ground beef prices were significantly influenced by store location (i.e., metropolitan area) and store type, fat content, package size and type, expiration date, brand category, and special labels. Factors influencing steak prices included store location, product type, quality grade, package size and type, brand category, and special labels.

Suggested Citation

  • Ward, Clement E. & Lusk, Jayson L. & Dutton, Jennifer M., 2008. "Implicit Value of Retail Beef Product Attributes," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(3), pages 1-18.
    • Handle: RePEc:ags:jlaare:46561
    DOI: 10.22004/ag.econ.46561
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    References listed on IDEAS

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    2. Herrmann, Roland & Schröck, Rebecca, 2011. "Determinanten des Innovationserfolgs: eine Analyse mit Scannerdaten für den deutschen Joghurtmarkt," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 60(03), pages 1-16, August.
    3. Adalja, Aaron & Hanson, James & Towe, Charles & Tselepidakis, Elina, 2015. "An Examination of Consumer Willingness to Pay for Local Products," Agricultural and Resource Economics Review, Cambridge University Press, vol. 44(3), pages 253-274, December.
    4. Vickner, Steven S., 2012. "Measuring the Value of Convenience: A Hedonic Pricing Model Approach in the Market for Breakfast Sausages," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124902, Agricultural and Applied Economics Association.
    5. Maples, Joshua G. & Lusk, Jayson L. & Peel, Derrell S., 2016. "When Bigger Isn't Better: Steak Size and Consumer Preferences," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235432, Agricultural and Applied Economics Association.
    6. Teuber, Ramona, 2010. "Estimating the Demand for Sensory Quality – Theoretical Considerations and an Empirical Application to Specialty Coffee," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 59(03), pages 1-14, September.
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    8. Schulz, Lee L. & Schroeder, Ted C. & White, Katharine L., 2012. "Value of Beef Steak Branding: Hedonic Analysis of Retail Scanner Data," Agricultural and Resource Economics Review, Cambridge University Press, vol. 41(2), pages 260-273, August.
    9. Teuber, Ramona, 2010. "Estimating the Demand for Sensory Quality - Theoretical Considerations and an Empirical Application to Specialty Coffee," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 59(3), pages 173-186.
    10. Martinez, Stephen W., 2011. "Brand Premiums in the U.S. Beef Industry," Journal of Food Distribution Research, Food Distribution Research Society, vol. 42(2), pages 1-15, July.
    11. Luigi Roselli & Domenico Carlucci & Bernardo Corrado Gennaro, 2016. "What Is the Value of Extrinsic Olive Oil Cues in Emerging Markets? Empirical Evidence from the U.S. E‐Commerce Retail Market," Agribusiness, John Wiley & Sons, Ltd., vol. 32(3), pages 329-342, July.
    12. Smed, Sinne & Hansen, Lars Garn, 2018. "Consumer Valuation of Health Attributes in Food," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 43(2), May.
    13. Edward C. Jaenicke & Andrea C. Carlson, 2015. "Estimating and Investigating Organic Premiums for Retail‐Level Food Products," Agribusiness, John Wiley & Sons, Ltd., vol. 31(4), pages 453-471, October.
    14. Dengjun Zhang & Geir Sogn-Grundvåg & Frank Asche & James A. Young, 2018. "Eco-Labeling and Retailer Pricing Strategies: The U.K. Haddock Market," Sustainability, MDPI, vol. 10(5), pages 1-13, May.
    15. Maples, Joshua G. & Lusk, Jayson L. & Peel, Derrell S., 2018. "Unintended consequences of the quest for increased efficiency in beef cattle: When bigger isn’t better," Food Policy, Elsevier, vol. 74(C), pages 65-73.
    16. Steven S. Vickner, 2015. "Estimating the Implicit Price of Convenience: A Hedonic Analysis of the US Breakfast Sausage Market," Agribusiness, John Wiley & Sons, Ltd., vol. 31(2), pages 281-292, April.
    17. Herrmann, Roland & Schröck, Rebecca, 2011. "Determinanten des Innovationserfolgs: eine Analyse mit Scannerdaten für den deutschen Joghurtmarkt," Journal of International Agricultural Trade and Development, Journal of International Agricultural Trade and Development, vol. 60(3).
    18. Teuber, Ramona, 2010. "Estimating the Demand for Sensory Quality – Theoretical Considerations and an Empirical Application to Specialty Coffee," Journal of International Agricultural Trade and Development, Journal of International Agricultural Trade and Development, vol. 59(3).
    19. Britwum, Kofi & Yiannaka, Amalia, 2019. "Consumer willingness to pay for food safety interventions: The role of message framing and issue involvement," Food Policy, Elsevier, vol. 86(C), pages 1-1.

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