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Separating Myth from Reality: An Analysis of Socially Acceptable Credence Attributes

Author

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  • Jayson L. Lusk

    (Department of Agricultural Economics, Purdue University, West Lafayette, Indiana 47907, USA)

Abstract

There has been increasing interest in food characteristics that are broadly classified here as socially acceptable credence attributes. This review considers several demand-side issues associated with the economic analysis of these attributes. First, despite ample research and media discussion suggesting strong preference for these food attributes, market shares remain low. Hypothetical bias and social desirability bias likely play a prominent role in explaining this disconnect. There has also been an increase in government and food industry regulation aimed at socially acceptable credence attributes, and this article considers why public votes and policy positions appear discordant with retail shopping behavior. One set of policy proposals involves more information disclosure related to such attributes; however, the welfare economics associated with information provision is not straightforward. While much has been learned about consumers? stated willingness-to-pay for socially acceptable credence attributes, this review suggests that more research is needed to understand the current environment surrounding these food characteristics.

Suggested Citation

  • Jayson L. Lusk, 2018. "Separating Myth from Reality: An Analysis of Socially Acceptable Credence Attributes," Annual Review of Resource Economics, Annual Reviews, vol. 10(1), pages 65-82, October.
    • Handle: RePEc:anr:reseco:v:10:y:2018:p:65-82
    DOI: 10.1146/annurev-resource-100517-023153
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    Citations

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    Cited by:

    1. Del Giudice, Teresa & Cavallo, Carla & Vecchio, Riccardo, 2018. "Credence Attributes, Consumers Trust and Sensory Expectations in Modern Food Market: Is there a Need to Redefine their Role?," International Journal on Food System Dynamics, International Center for Management, Communication, and Research, vol. 9(4), August.
    2. Merel, Pierre & Qin, Zhiran & Sexton, Richard J., 2023. "Policy-Induced Expansion of Organic Farmland: Implications for Food Prices and Welfare," 2023 Annual Meeting, July 23-25, Washington D.C. 335587, Agricultural and Applied Economics Association.
    3. De Bauw, Michiel & Franssens, Samuel & Vranken, Liesbet, 2022. "Trading off environmental attributes in food consumption choices," Food Policy, Elsevier, vol. 112(C).
    4. Lusk, Jayson L. & Tonsor, Glynn T. & Schroeder, Ted C. & Hayes, Dermot J., 2018. "Effect of government quality grade labels on consumer demand for pork chops in the short and long run," Food Policy, Elsevier, vol. 77(C), pages 91-102.
    5. Torres, Ariana P., . "Research Report: For Young Americans, Sustainable Is Not Organic," Journal of Food Distribution Research, Food Distribution Research Society, vol. 51(1).
    6. Francisco Scott & Juan P. Sesmero, 2022. "Market and welfare effects of quality misperception in food labels," American Journal of Agricultural Economics, John Wiley & Sons, vol. 104(5), pages 1747-1769, October.
    7. Malone, Trey & Schaefer, K. Aleks & Lusk, Jayson L., 2021. "Unscrambling U.S. egg supply chains amid COVID-19," Food Policy, Elsevier, vol. 101(C).
    8. Deka, Anubrata & Yiannaka, Amalia & Giannakas, Konstantinos, 2021. "The Economic Impacts of Private Politics and Corporate Social Responsibility on Food Fraud," 2021 Annual Meeting, August 1-3, Austin, Texas 314030, Agricultural and Applied Economics Association.

    More about this item

    Keywords

    ballot initiative; labels; organic; social desirability bias; warm glow; willingness-to-pay;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    • Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy; Animal Welfare Policy

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