Demand for and Value of Credence Characteristics: Case Beef
AbstractThe 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 our 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. 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. Genetically modified organisms (GMOs) are not considered as the mosthazardous risk factor in food products. However, if the beef products contain GMOs used in animals, then consumers also start requiring additional information.
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Bibliographic InfoPaper provided by European Association of Agricultural Economists in its series 2002 International Congress, August 28-31, 2002, Zaragoza, Spain with number 24841.
Date of creation: 2002
Date of revision:
beef; information; credence attributes; contingent valuation; willingness to pay; Food Consumption/Nutrition/Food Safety;
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