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Demand For Credence Characteristics In Beef

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  • Kola, Jukka
  • Latvala, Terhi
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    Abstract

    The recent food crises in Europe have raised public concerns about the quality and safety of food. The growing concern among the consumers towards food safety issues has increased the demand for quality attributes. 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. The aim of this study is to evaluate, both qualitatively and quantitatively, the value of new information about and the information systems set for credence characteristics of beef. Economics of information is the theoretical framework. The quantitative approach focuses to measure the ex ante value of credence characteristics, and the method of contingent valuation is applied for this purpose. In the beef supply chain there are two parallel information-based policies in Finland, which will increase the credence characteristics of beef quality and safety. First, the National Quality Strategy was drawn up by all parties involved in foodstuffs production to express the competitive advantages and strengths of Finnish food products relating to quality, safety, ethics, and ecology. Secondly, a beef identification and labelling system of the European Union was developed primarily to secure the safety of beef products and to increase the transparency and traceability of beef products in the supply chain. Through these systems more information about the credence characteristics of beef safety and quality will be made available to consumers. Results indicate that 59 % of Finnish consumers are willing to pay more to get information about safety and quality of beef products. Consumers are most concerned with diseases caused by food of animal origin. In addition, consumers desire more information about the use of GMOs in livestock production, the country of origin, and use of hormones in livestock production. Key words: beef, information, credence attributes, contingent valuation, willingness to pay

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    Bibliographic Info

    Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2002 Annual meeting, July 28-31, Long Beach, CA with number 19703.

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    Date of creation: 2002
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    Handle: RePEc:ags:aaea02:19703

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    Keywords: beef; information; credence attributes; contingent valuation; willingness to pay; Demand and Price Analysis;

    References

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    1. 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.
    2. 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.
    3. Caswell, Julie A. & Mojduszka, Eliza M., 1996. "Using Informational Labeling To Influence The Market For Quality In Food Products," Working Papers 25989, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance.
    4. Jensen, Helen H. & Basiotis, P. Peter, 1993. "Food Safety/Food Quality Data," Emerging Data Issues in Food Demand Analysis, Proceedings of the S216 Workshop, October 1993 11849, Regional Research Project S-278 Food Demand, Nutrition and Consumer Behavior.
    5. 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.
    6. 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.
    7. Buzby, Jean C. & Roberts, Tanya & Lin, Chung-Tung Jordan & MacDonald, James M., 1996. "Bacterial Foodborne Disease: Medical Costs and Productivity Losses," Agricultural Economics Reports 33991, United States Department of Agriculture, Economic Research Service.
    8. Spencer Henson & Mario Mazzocchi, 2002. "Impact of Bovine Spongiform Encephalopathy on Agribusiness in the United Kingdom: Results of an Event Study of Equity Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(2), pages 370-386.
    9. 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.
    10. 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.
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    Cited by:
    1. Souza Monteiro, Diogo M. & Caswell, Julie A., 2005. "The Economics of Traceability for Multi-Ingredient Products: A Network Approach," 2005 Annual meeting, July 24-27, Providence, RI 19143, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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