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Consumer Willingness to Pay for Nano-packaged Food Products: Evidence from Eye-tracking Technology and Experimental Auctions

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  • Katare, Bhagyashree
  • Yue, Chengyan
  • Hurley, Terrance M.

Abstract

Using eye-tracking technology and experimental auctions, this paper evaluates the impact of information from various sources on consumers’ real willingness to pay (WTP) for nano-packaged food products with varying shelf-lives. Information about the risks and benefits of nanotechnology in food processing from various sources was presented to consumers and consumers’ eyes were tracked and the time they spent on viewing the information was recorded. Double hurdle models estimation results show that the specific information about nanotechnology from various sources has a negative effect on the probability of consumer submitting positive bids for the nano-packaged products. Conditional on participants’ willingness to submit positive bids, general and specific information about nanotechnology had a positive effect on participants’ WTP for nano-packaged salads and apple sauce which are products with a relatively shorter shelf-life. The eye-tracking data in the analysis showed the proportion of the normalized time viewing the information from private industry significantly increased the WTP conditional on participants submitting a positive bid for apple sauce as compared with the proportion of normalized time viewing the information from environmental protection groups.

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Bibliographic Info

Paper provided by Agricultural and Applied Economics Association in its series 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. with number 149676.

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Date of creation: 2013
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Handle: RePEc:ags:aaea13:149676

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Keywords: nanotechnology; willingness to pay; shelf-life; experimental auction; eye-tracking; Agricultural and Food Policy; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Marketing; Q13; Q16;

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  1. Batte, Marvin T. & Hooker, Neal H. & Haab, Timothy C. & Beaverson, Jeremy, 2007. "Putting their money where their mouths are: Consumer willingness to pay for multi-ingredient, processed organic food products," Food Policy, Elsevier, vol. 32(2), pages 145-159, April.
  2. Jayson Lusk & John Fox & T Schroeder & J Mintert & M Koohmaraie, 2001. "In-store valuation of steak tenderness," Framed Field Experiments 00186, The Field Experiments Website.
  3. Noussair, C.N. & Ruffieux, B. & Robin , S., 2004. "Revealing consumers' willingness to pay: A comparison of the BDM mechanism and the vickrey auction," Open Access publications from Tilburg University urn:nbn:nl:ui:12-377937, Tilburg University.
  4. Faical Akaichi & Rodolfo M. Nayga, Jr & José M. Gil, 2012. "Assessing Consumers’ Willingness to Pay for Different Units of Organic Milk: Evidence from Multiunit Auctions," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 60(4), pages 469-494, December.
  5. Roosen, Jutta & Bieberstein, Andrea & Marette, Stephan & Blanchemanche, Sandrine & Vandermoere, Frederic, 2011. "The Effect of Information Choice and Discussion on Consumers' Willingness-to-Pay for Nanotechnologies in Food," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 36(2), August.
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