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Consumers' Willingness to Pay a Price for Organic Beef Meat

Author

Listed:
  • Corsi, Alessandro
  • Novelli, Silvia

Abstract

The goal of this paper is to estimate the maximum price consumers are willing to pay (MPWTP) for organic beef meat. To this purpose, a theoretical and econometric approach is presented, based on the RUM model and on a Contingent Valuation technique. The results show that consumers' MPWTP is quite high, thus suggesting that organic beef meat might gain an appreciable market share. This is also an encouraging signal for prospective producers of organic meat, who might compensate the likely increase in production costs with a substantial premium for the new good.

Suggested Citation

  • Corsi, Alessandro & Novelli, Silvia, 2002. "Consumers' Willingness to Pay a Price for Organic Beef Meat," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24923, European Association of Agricultural Economists.
    • Handle: RePEc:ags:eaae02:24923
    DOI: 10.22004/ag.econ.24923
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    Cited by:

    1. Onur Sapci & Ayse Sapci, 0. "Consumer Perception of Food Expiration Labels: “Sell By” Versus “Expires On”," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 0, pages 1-17.
    2. White, Robin R. & Brady, Michael, 2014. "Can consumers’ willingness to pay incentivize adoption of environmental impact reducing technologies in meat animal production?," Food Policy, Elsevier, vol. 49(P1), pages 41-49.
    3. Onur Sapci & Ayse Sapci, 2020. "Consumer Perception of Food Expiration Labels: “Sell By” Versus “Expires On”," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 46(4), pages 673-689, October.
    4. Hoxha, Leonora Sopaj & Musliu, Anera, 2021. "Organic Agriculture and Organic Food Consumption in Kosovo," International Journal of Food and Agricultural Economics (IJFAEC), Alanya Alaaddin Keykubat University, Department of Economics and Finance, vol. 9(1), January.
    5. Cash, Sean B. & Slade, Peter & Cranfield, John, 2013. "The Chicken Wears No Skin: Ordering Effects in Elicitation of Willingness to Pay for Multiple Credence Attributes in Ethical and Novel Food Products," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150364, Agricultural and Applied Economics Association.
    6. Onur Sapci & Aaron Wood & Jason Shogren & Jolene Green, 2016. "Can verifiable information cut through the noise about climate protection? An experimental auction test," Climatic Change, Springer, vol. 134(1), pages 87-99, January.

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    Keywords

    Consumer/Household Economics;

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