Modelling functional food choice and health care impacts: A literature review
AbstractThe global market for functional foods is estimated to be worth about US$33 billion (Hilliam, 2000). Given the information asymmetry inherent in functional foods, labelling information plays a key role in allowing consumers to make informed choices. Understanding consumer choices with respect to functional foods is an important new area of research. Several potential consumer choice models are available to assess consumer choices for functional food. This paper provides an overview of key consumer research questions, and a review of several different models, including the Stated Preference Choice Model with Discrete Choice Analysis, Dependent Preference Model, and modified Protection Motivation Theory.
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Bibliographic InfoPaper provided by University of Alberta, Department of Resource Economics and Environmental Sociology in its series Consumer and Market Demand Network Papers with number 91556.
Date of creation: Nov 2006
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information asymmetry; stated preference models; protection motivation; functional food; Food Consumption/Nutrition/Food Safety; Q13; I1; D12; D82;
Find related papers by JEL classification:
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
- I1 - Health, Education, and Welfare - - Health
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
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- Veneziani, Mario & Sckokai, Paolo & Moro, Daniele, 2012. "Consumers’ willingness to pay for a functional food," Congress Papers 124101, Italian Association of Agricultural and Applied Economics (AIEAA).
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