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Assessing Korean Consumers’ Valuation for Domestic and Imported Rice: Importance of Country of Origin and Food Miles Information

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Author Info

  • Han, Doo Bong
  • Nayga, Rodolfo M., Jr.
  • Lee, Ji Yong
  • Yoon, Jong Min

Abstract

The aim of this paper is to determine Korean consumers’ valuation for domestic rice and imported rice from China and the US. Using revealed preference data from random nth price auction mechanism, our results generally suggest that consumers’ willingness to pay (WTP) for domestic rice is higher than the WTP for imported rice. Results also suggest that while country of origin and food miles information positively influences consumers’ WTP for domestic rice, country of origin information provides higher valuation for domestic rice than food miles information. Country of origin and food miles information has no statistically significant effect on WTP for the imported Chinese rice product but food miles information has a negative effect on WTP for the imported US rice product. Implications of the findings for rice industries for Korea, the US and China are discussed.

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Bibliographic Info

Paper provided by Southern Agricultural Economics Association in its series 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama with number 119817.

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Date of creation: Jan 2012
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Handle: RePEc:ags:saea12:119817

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Related research

Keywords: Rice; Country of origin information; Food mile information; Experimental auction; Agricultural and Food Policy; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety;

This paper has been announced in the following NEP Reports:

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  1. Lusk,Jayson L. & Shogren,Jason F., 2007. "Experimental Auctions," Cambridge Books, Cambridge University Press, number 9780521671248, October.
  2. repec:feb:artefa:0069 is not listed on IDEAS
  3. List, John A, 2003. "Using Random nth Price Auctions to Value Non-market Goods and Services," Journal of Regulatory Economics, Springer, vol. 23(2), pages 193-205, March.
  4. Noussair, Charles & Robin, Stephane & Ruffieux, Bernard, 2004. "Revealing consumers' willingness-to-pay: A comparison of the BDM mechanism and the Vickrey auction," Journal of Economic Psychology, Elsevier, vol. 25(6), pages 725-741, December.
  5. Shogren, Jason F. & Margolis, Michael & Koo, Cannon & List, John A., 2001. "A random nth-price auction," Journal of Economic Behavior & Organization, Elsevier, vol. 46(4), pages 409-421, December.
  6. Jayson Lusk & T Feldkamp & T Schroeder, 2004. "Experimental auction procedure: Impact on valuation of quality differentiated goods," Artefactual Field Experiments 00097, The Field Experiments Website.
  7. Peterson, Hikaru Hanawa & Yoshida, Kentaro, 2004. "Quality Perceptions and Willingness-to-Pay for Imported Rice in Japan," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 36(01), April.
  8. Frode Alfnes, 2009. "Valuing product attributes in Vickrey auctions when market substitutes are available," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 36(2), pages 133-149, June.
  9. Jay R. Corrigan & Matthew C. Rousu, 2006. "The Effect of Initial Endowments in Experimental Auctions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(2), pages 448-457.
  10. Ji Yong Lee & Doo Bong Han & Rodolfo M. Nayga Jr & Song Soo Lim, 2011. "Valuing traceability of imported beef in Korea: an experimental auction approach," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 55(3), pages 360-373, 07.
  11. David L. Dickinson, 2004. "Negative Values in Vickrey Auctions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(1), pages 222-235.
  12. W. Bruce Traill, 2004. "Effect of information about benefits of biotechnology on consumer acceptance of genetically modified food: evidence from experimental auctions in the United States, England, and France," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 31(2), pages 179-204, June.
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