The Chicken Wears No Skin: Ordering E ects in Elicitation of Willingness to Pay for Multiple Credence Attributes in Ethical and Novel Food Products
AbstractWe investigate whether consumer preferences for food products embodying multiple credence attributes are easily satiated. Results from two treatments of an experiment suggest choices are not a ected by the order in which attributes are presented. Initial evidence suggests diminishing marginal utility in the number of attributes included in food products embodying multiple credence attributes. However, further testing reveals that preferences are consistent with constant marginal utility in the number of product attributes, suggesting that preferences are not easily satiated.
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Bibliographic InfoPaper provided by Agricultural and Applied Economics Association in its series 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. with number 150364.
Date of creation: 2013
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Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Livestock Production/Industries;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-06-24 (All new papers)
- NEP-DCM-2013-06-24 (Discrete Choice Models)
- NEP-UPT-2013-06-24 (Utility Models & Prospect Theory)
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