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Consumers' Willingness to Pay for Additional Information on Food Quality and Safety

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  • Latvala, Terhi
  • Kola, Jukka
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    Abstract

    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. Our objective is to assess how much consumers are willing to pay (WTP) for meat products, of which e.g. origins and production practices are known, especially with regard to safety issues. 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.

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    File URL: http://purl.umn.edu/24980
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    Bibliographic Info

    Paper provided by European Association of Agricultural Economists in its series 84th Seminar, February 8-11, 2004, Zeist, The Netherlands with number 24980.

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    Date of creation: 2004
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    Handle: RePEc:ags:eaae84:24980

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    Related research

    Keywords: beef; information; credence attributes; willingness to pay; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety;

    References

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    1. Julie A. Caswell & Eliza M. Mojduszka, 1996. "Using Informational Labeling to Influence the Market for Quality in Food Products," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(5), pages 1248-1253.
    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. 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.
    4. Jensen, Helen H. & Basiotis, P., 1995. "Food Safety/Food Quality Data," Staff General Research Papers 842, Iowa State University, Department of Economics.
    5. 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.
    6. 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.
    7. 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.
    8. 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.
    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.
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    Cited by:
    1. de Carlos, Pilar & Garcia Martinez, Marian & de Felipe, Isabel & Briz, Julian & Morais, Federico, 2005. "Analysis of Consumer Perceptions on Quality and Food Safety in the Spanish Beef Market: A Future Application in New Product Development," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24456, European Association of Agricultural Economists.
    2. Fortin, Corey & Goodwin, Harold L., Jr., 2008. "Valuation of Temp-Time's Fresh-CheckĀ® Indicator on Perishable Food Products in Belgium," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6766, Southern Agricultural Economics Association.
    3. Rosa, Franco & Sanchez Garcia, Mercedes & Barrena Figueroa, Ramo, 2006. "Trust in Label Information to Recuperate Consumer's Confidence for Meat: A Compared Analysis among Canada, Italy, and Spain," 99th Seminar, February 8-10, 2006, Bonn, Germany 7744, European Association of Agricultural Economists.

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