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Impact Of Information On The Demand For Credence Characteristics

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  • Latvala, Terhi
  • Kola, Jukka
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    Abstract

    Most quality properties of food products can be considered as credence characteristics, quality of which cannot be inferred before the purchase, and sometimes not even after the purchase. Our objectives are: (1) To assess how much consumers are willing to pay (WTP) for meat products, of which e.g. origins and production practices are known, especially with regard to safety issues; (2) To compare the applicability, reliability, and efficiency of safety information provided by either private companies or public institutions, and (3) to explore the possibility of the so-called information paradox: is more information always better – or more beneficial – information?

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    Bibliographic Info

    Article provided by International Food and Agribusiness Management Association (IAMA) in its journal International Food and Agribusiness Management Review.

    Volume (Year): 05 (2003)
    Issue (Month): 02 ()
    Pages:

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    Handle: RePEc:ags:ifaamr:34531

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    Keywords: Demand and Price Analysis;

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    1. Spencer Henson, 1996. "Consumer Willingness To Pay For Reductions In The Risk Of Food Poisoning In The Uk," Journal of Agricultural Economics, Wiley Blackwell, vol. 47(1-4), pages 403-420.
    2. Henson, Spencer & Traill, Bruce, 1993. "The demand for food safety : Market imperfections and the role of government," Food Policy, Elsevier, vol. 18(2), pages 152-162, April.
    3. Julie A. Caswell & Eliza M. Mojduszka, 1996. "Using Informational Labeling to Influence the Market for Quality in Food Products," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(5), pages 1248-1253.
    4. Spencer Henson & James Northen, 2000. "Consumer Assessment of the Safety of Beef at the Point of Purchase: A Pan-European Study," Journal of Agricultural Economics, Wiley Blackwell, vol. 51(1), pages 90-105.
    5. Hooker, Neal H. & Caswell, Julie A., 1995. "Regulatory Targets And Regimes For Food Safety: A Comparison Of North American And European Approaches," Proceedings: The Economics of Reducing Health Risk from Food, June 6-7, 1995, Washington, D.C. 25964, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance.
    6. John M. Antle, 1999. "The New Economics of Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(5), pages 993-1010.
    7. Darby, Michael R & Karni, Edi, 1973. "Free Competition and the Optimal Amount of Fraud," Journal of Law and Economics, University of Chicago Press, vol. 16(1), pages 67-88, April.
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    Cited by:
    1. Revoredo-Giha, Cesar & Lamprinopoulou, Chrysa & Leat, Philip M.K. & Kupiec-Teahan, Beata & Toma, Luiza & Cacciolatti, Luca, 2009. "How Differentiated Is The Scottish Beef? An Analysis Of Supermarket Data Panel," Working Papers 109392, Scotland's Rural College (formerly Scottish Agricultural College), Land Economy & Environment Research Group.
    2. Bulut, Harun & Lawrence, John D., 2007. "Meat Slaughter and Processing Plants’ Traceability Levels Evidence From Iowa," 2007 Conference, April 16-17, 2007, Chicago, Illinois 37576, NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    3. Halawany, Rafia & Bauer, Caroline & Giraud, Georges & Schaer, Burkhard, 2007. "Consumers' Acceptability and Rejection of Food Traceability Systems, a French-German Cross-Comparison," 2007 1st Forum, February 15-17, 2007, Innsbruck, Austria 6567, International European Forum on Innovation and System Dynamics in Food Networks.
    4. Yrjola, Tapani & Kola, Jukka, 2004. "Consumer Preferences Regarding Multifunctional Agriculture," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IAMA), vol. 7(02).
    5. Goldsmith, Peter D. & Turan, Nesve A. & Gow, Hamish R., 2004. "Firms, Incentives, And The Supply Of Food Safety: A Formal Model Of Government Enforcement," 2004 Annual meeting, August 1-4, Denver, CO 20343, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Kayser, Maike & Nitzko, Sina & Spiller, Achim, 2013. "Analysis of Differences in Meat Consumption Patterns," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IAMA), vol. 16(2).
    7. Rodríguez, Elsa Mirta M. & Lacaze, María Victoria & Lupín, Beatriz, 2007. "Willingness to pay for organic food in Argentina: evidence from a consumer survey," Nülan. Deposited Documents 1300, Centro de Documentación, Facultad de Ciencias Económicas y Sociales, Universidad Nacional de Mar del Plata.

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