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Consumer Valuation Of Beef Ribeye Steak Attributes

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  • 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.

Suggested Citation

  • Lusk, Jayson L. & Fox, John A., 2000. "Consumer Valuation Of Beef Ribeye Steak Attributes," 2000 Annual meeting, July 30-August 2, Tampa, FL 21793, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea00:21793
    DOI: 10.22004/ag.econ.21793
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    References listed on IDEAS

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    Cited by:

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    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), pages 1-18, August.
    5. 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).

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