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Consumer Valuation Of Beef Ribeye Steak Attributes

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Author Info

  • Lusk, Jayson L.
  • Fox, John A.

Abstract

A choice experiment (conjoint analysis) was used to investigate consumer demand for several beef ribeye steak attributes. Respondents indicated that they would prefer a "“hormone free"” ribeye steak priced up to $6.68/lb. more than a “"non-hormone" free” ribeye steak. Tenderness was also identified as an important attribute in the consumer purchasing decision as a one-unit increase in the tenderness of a steak (on a scale of one to 10) was associated with a $1.13/lb. premium. Steak marbling and whether the animal was fed genetically modified corn were of less importance to consumers.

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File URL: http://purl.umn.edu/21793
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Bibliographic Info

Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2000 Annual meeting, July 30-August 2, Tampa, FL with number 21793.

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Date of creation: 2000
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Handle: RePEc:ags:aaea00:21793

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Related research

Keywords: Consumer/Household Economics; Food Consumption/Nutrition/Food Safety;

References

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  1. Adamowicz W. & Louviere J. & Williams M., 1994. "Combining Revealed and Stated Preference Methods for Valuing Environmental Amenities," Journal of Environmental Economics and Management, Elsevier, vol. 26(3), pages 271-292, May.
  2. Lawrence Rubey & Frank Lupi, 1997. "Predicting the Effects of Market Reform in Zimbabwe: A Stated Preference Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(1), pages 89-99.
  3. R. B. Y. Kim & J. Unterschultz & M. Veeman & P. Jelen, 1997. "Analysis of the Korean beef market: A study of hotel buyers' perspectives of beef imports from three major sources," Agribusiness, John Wiley & Sons, Ltd., vol. 13(4), pages 445-455.
  4. T.S. Jayne & Lawrence Rubey & Frank Lupi & David Tschirley & Michael T. Weber, 1996. "Estimating Consumer Response to Food Market Reform Using Stated Preference Data: Evidence from Eastern and Southern Africa," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(3), pages 820-824.
  5. Adamowicz, Wiktor & Swait, Joffre & Boxall, Peter & Louviere, Jordan & Williams, Michael, 1997. "Perceptions versus Objective Measures of Environmental Quality in Combined Revealed and Stated Preference Models of Environmental Valuation," Journal of Environmental Economics and Management, Elsevier, vol. 32(1), pages 65-84, January.
  6. Adamowicz, Wiktor L. & Boxall, Peter C. & Williams, Michael & Louviere, Jordan, 1995. "Stated Preference Approaches for Measuring Passive Use Values: Choice Experiments versus Contingent Valuation," Staff Paper Series 24126, University of Alberta, Department of Resource Economics and Environmental Sociology.
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Citations

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Cited by:
  1. Teratanavat, Ratapol P. & Hooker, Neal H., 2005. "Exploring Consumer Valuation and Preference Heterogeneity for Functional Foods Using a Choice Experiment: A Case Study of Tomato Juice Containing Soy in Ohio," 2005 Annual meeting, July 24-27, Providence, RI 19556, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  2. Goss, Jody & Holcomb, Rodney B. & Ward, Clement E., 2002. "Factors Influencing Consumer Decisions Related To "Natural" Beef In The Southern Plains," Journal of Food Distribution Research, Food Distribution Research Society, vol. 33(01), March.
  3. Ventura-Lucas, Maria Raquel, 2004. "Consumer Perceptions and Attitudes Towards Food Safety in Portugal," 84th Seminar, February 8-11, 2004, Zeist, The Netherlands 24986, European Association of Agricultural Economists.
  4. Evans, Jason R. & D'Souza, Gerard E. & Collins, Alan R. & Brown, Cheryl & Sperow, Mark, 2011. "Determining Consumer Perceptions of and Willingness to Pay for Appalachian Grass-Fed Beef: An Experimental Economics Approach," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 40(2), August.

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