Taste and Visual Influences on Hispanic Consumers' Preferences and Willingness-to-Pay for Pasture-Fed Beef
AbstractExperimental Economics methods are used to determine Hispanic consumers’ sensory acceptance of pasture-fed beef and evaluate visual and taste influences on their overall preferences and willingness-to-pay (WTP). Two hundred and thirty-one Hispanic consumers in four experimental sites in Virginia participated in a laboratory experimental procedure where they visually examined and tasted pasture-fed and conventionally produced grain-fed beef, and then participated in a non-hypothetical Multiple Price Lists (MPL) experiment to determine their WTP. Hispanic consumers perceived significant differences between pasture-fed and grain-fed beef’s appearance and taste. Visual and taste acceptances are closely correlated to and significantly influence overall preferences. More than fifty percent of Hispanic consumers prefer pasture-fed beef and the majority of them consistently are willing to pay a price premium. Approximately, half consumers who generally prefer pasture-fed beef consistently consider the appearance and taste of pasture-fed beef more favorable but another half of them indicated discrepant visual and taste acceptances. Nevertheless, this inconsistency doesn’t lead to a lower WTP for pasture-fed beef.
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Bibliographic InfoPaper provided by Agricultural and Applied Economics Association in its series 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin with number 49457.
Date of creation: 2009
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Pasture-Fed Beef; Experimental Economics; Multiple Price Lists; Preference; Willingness-to-pay; Agribusiness; Consumer/Household Economics; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Livestock Production/Industries; Marketing;
This paper has been announced in the following NEP Reports:
- NEP-AGR-2009-05-16 (Agricultural Economics)
- NEP-ALL-2009-05-16 (All new papers)
- NEP-EXP-2009-05-16 (Experimental Economics)
- NEP-MKT-2009-05-16 (Marketing)
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