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Expiration Dates And Stigma: Why Don’T We Observe Hedonic Markets For Perishable Products?

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  • Kerley, Deborah
  • Messer, Kent D.
  • Wansink, Brian
  • Kaiser, Harry M.
  • Schulze, William D.

Abstract

Consumers indicate on surveys that price and freshness are important to their purchase decisions. If this is true, then why don’t retailers sell milk differentiated by the date it was pasteurized or why are meats not displayed with several different prices based on time since butchering? Our experimental results suggest that the addition of an expiration date led consumers to consider milk to have a consistent level of freshness until the expiration date in contrast to them assuming a more linear decline. Our findings indicate that expiration dating substantially alters consumers’ beliefs on milks’ freshness and potentially enhances firms’ profits.

Suggested Citation

  • Kerley, Deborah & Messer, Kent D. & Wansink, Brian & Kaiser, Harry M. & Schulze, William D., 2008. "Expiration Dates And Stigma: Why Don’T We Observe Hedonic Markets For Perishable Products?," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6547, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea08:6547
    DOI: 10.22004/ag.econ.6547
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    References listed on IDEAS

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    1. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    2. Henrik Andersson, 2005. "The Value of Safety as Revealed in the Swedish Car Market: An Application of the Hedonic Pricing Approach," Journal of Risk and Uncertainty, Springer, vol. 30(3), pages 211-239, May.
    3. Charles Noussair & StÈphane Robin & Bernard Ruffieux, 2004. "Do Consumers Really Refuse To Buy Genetically Modified Food?," Economic Journal, Royal Economic Society, vol. 114(492), pages 102-120, January.
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    Cited by:

    1. Li, Tongzhe & Messer, Kent D. & Kaiser, Harry M., 2020. "The impact of expiration dates labels on hedonic markets for perishable products," Food Policy, Elsevier, vol. 93(C).

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