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Consumer Willingness to Pay Price Premiums for Credence Attributes of Livestock Products – A Meta‐Analysis

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  • Wei Yang
  • Alan Renwick

Abstract

Livestock products, such as dairy and beef, are increasingly regarded as resource intensive and concerns are raised 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 credence attributes (CAs) that cannot be directly experienced or identified. A number of empirical studies have attempted to estimate consumers' willingness to pay (WTP) for CAs, which represents the additional value placed on the benefits that they derive from those products. However, there are significant differences in these WTP estimates, mainly because both consumers' perceptions of CAs and the conditions of the studies vary. We conduct a meta‐analysis to examine consumers' WTP for different CAs 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. Overall 555 estimates derived from 94 papers reporting WTP are included in this study. Meta‐regression results establish the presence of systematic WTP variation associated with types of products, CAs, and locations, though also indicate that WTP is subject to systematic variation associated with study methodology.

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  • Wei Yang & Alan Renwick, 2019. "Consumer Willingness to Pay Price Premiums for Credence Attributes of Livestock Products – A Meta‐Analysis," Journal of Agricultural Economics, Wiley Blackwell, vol. 70(3), pages 618-639, September.
    • Handle: RePEc:bla:jageco:v:70:y:2019:i:3:p:618-639
    DOI: 10.1111/1477-9552.12323
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    Cited by:

    1. Duan, Dinglin & Gao, Zhifeng & Uddin, Md Azhar & Nian, Yefan & Nguyen, Ly, 2022. "Tracing the Trends in Consumer Preferences for Eco-labeled Food: A Text Mining and Topic Modeling Approach," 2022 Annual Meeting, July 31-August 2, Anaheim, California 322419, Agricultural and Applied Economics Association.
    2. Georgia Papoutsi & Pantelis Noulas & Katerina Tsatoura, 2022. "Animals or Humans: What Do Greek Consumers Care More about When Buying Feta Cheese?," Sustainability, MDPI, vol. 15(1), pages 1-14, December.
    3. Rajković, Borislav & Đurić, Ivan & Zarić, Vlade & Glauben, Thomas, 2021. "Gaining trust in the digital age: The potential of social media for increasing the competitiveness of small and medium enterprises," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 13(4).
    4. Yu, Aizhi & Cao, Jingsheng & She, Huiling & Li, Jian, 2023. "Unveiling the impact of E-commerce on smallholder livestock marketing: Insights on egg price premiums and mechanisms," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 1582-1596.
    5. Yang, Wei & Rennie, Grant & Ledgard, Stewart & Mercer, Geoff & Lucci, Gina, 2020. "Impact of delivering ‘green’ dairy products on farm in New Zealand," Agricultural Systems, Elsevier, vol. 178(C).
    6. Alan Renwick & Robyn Dynes & Paul Johnstone & Warren King & Lania Holt & Jemma Penelope, 2019. "Challenges and Opportunities for Land Use Transformation: Insights from the Central Plains Water Scheme in New Zealand," Sustainability, MDPI, vol. 11(18), pages 1-18, September.
    7. A. Saidi & G. Sacchi & C. Cavallo & G. Cicia & R. Di Monaco & S. Puleo & T. Del Giudice, 2022. "Drivers of fish choice: an exploratory analysis in Mediterranean countries," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 10(1), pages 1-25, December.
    8. Karen Bayne & Alan Renwick, 2021. "Beyond Sustainable Intensification: Transitioning Primary Sectors through Reconfiguring Land-Use," Sustainability, MDPI, vol. 13(6), pages 1-22, March.
    9. Wei Yang & Alan Renwick & Waranan Tantiwat & Cesar Revoredo‐Giha & Dafeng Wu, 2021. "Food product launch and positioning in China—Do claims of credence attributes matter?," Agribusiness, John Wiley & Sons, Ltd., vol. 37(4), pages 915-926, October.
    10. Hernando Barreto Riaño & John Willmer Escobar & Rodrigo Linfati & Virna Ortiz-Araya, 2022. "Disciplinary Categorization of the Cattle Supply Chain—A Review and Bibliometric Analysis," Sustainability, MDPI, vol. 14(21), pages 1-44, November.
    11. Andreas Tsakiridis & Michael Wallace & James Breen & Cathal O'Donoghue & Kevin Hanrahan, 2021. "Beef quality assurance schemes: Can they improve farm economic performance?," Agribusiness, John Wiley & Sons, Ltd., vol. 37(3), pages 451-471, July.
    12. Schmiess, Jacob S. & Lusk, Jayson L., 2022. "Tradeoff between Animal Welfare and Environmental Impacts of Beef Production: An Analysis of Presentation Effects on Consumer Choice," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 47(2), May.
    13. Romera, A.J. & Bos, A.P. & Neal, M. & Eastwood, C.R. & Chapman, D. & McWilliam, W. & Royds, D. & O'Connor, C. & Brookes, R. & Connolly, J. & Hall, P. & Clinton, P.W., 2020. "Designing future dairy systems for New Zealand using reflexive interactive design," Agricultural Systems, Elsevier, vol. 181(C).

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