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Estimating the Value Consumers Derive from Product Labeling

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Author Info
Matthew C. Rousu
Jay R. Corrigan

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Abstract

Firms spend billions of dollars annually on new product and label designs in order to attract and retain customers. The issue of labeling is also important to government agencies and nonprofit labeling organizations. For example, the U.S. Food and Drug Administration has an organizational body in its Office of Nutritional Products that deals with issues of food and dietary supplement labeling. The U.S. Department of Agriculture’s Food Safety and Inspection Service also deals with labeling through its Labeling and Consumer Protection Staff. These government agencies spend millions of dollars trying to ensure that food labels adequately inform consumers. One issue that has not been examined is the welfare difference to consumers from alternative labeling schemes/regulations. It seems likely that different labels would differ in effectiveness at informing consumers.

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File URL: http://economics.kenyon.edu/corrigan/publications/Estimating%20the%20Value%20Consumers%20Derive%20from%20Product%20Labelling.pdf
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Paper provided by Kenyon College, Department of Economics in its series Working Papers with number 0802.

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Date of creation: 2008
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Handle: RePEc:ken:wpaper:0802

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Web page: http://economics.kenyon.edu/
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  1. Todd L. Cherry & Peter Frykblom & John List & Jason Shogren & Melonie Williams, 2002. "Laboratory Testbeds and Nonmarket Valuation: The Case of Bidding Behavior in a Second Price Auction with an Outside Option," Working Papers 02-13, Department of Economics, Appalachian State University.
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  2. Shogren, Jason F. & Seung Y. Shin & Dermot J. Hayes & James B. Kliebenstein, 1994. "Resolving Differences in Willingness to Pay and Willingness to Accept," American Economic Review, American Economic Association, vol. 84(1), pages 255-70, March.
  3. Glenn W. Harrison & John A. List, 2004. "Field Experiments," Journal of Economic Literature, American Economic Association, vol. 42(4), pages 1009-1055, December. [Downloadable!] (restricted)
  4. Rousu, Matthew & Huffman, Wallace & Shogren, Jason F. & Tegene, Abebayehu, 2002. "The Value of Verifiable Information in a Controversial Market: Evidence from Lab Auctions of Genetically Modified Food," Staff General Research Papers 10009, Iowa State University, Department of Economics. [Downloadable!]
  5. Huffman, Wallace & Shogren, J. E. & Rousu, M. & Tegene, A., 2005. "Consumer Willingness to Pay for Genetically Modified Food Labels in a Market with Diverse Information: Evidence from Experimental Auctions," Staff General Research Papers 12256, Iowa State University, Department of Economics.
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  6. J.L. Lusk & J.A. Fox & T.C. Schroeder & J. Mintert & M. Koohmaraie, 2001. "In-Store Valuation of Steak Tenderness," Framed Field Experiments 0058, The Field Experiments Website.
  7. Jay R. Corrigan & Matthew C. Rousu, 2006. "Posted Prices and Bid Affiliation: Evidence from Experimental Auctions," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 88(4), pages 1078-1090, November. [Downloadable!] (restricted)
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  8. Rousu, Matthew C. & Shogren, Jason F., 2006. "Valuing Conflicting Public Information About a New Technology: The Case of Irradiated Foods," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 31(03), December. [Downloadable!]
  9. Jay R. Corrigan & Matthew C. Rousu, 2006. "The Effect of Initial Endowments in Experimental Auctions," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 88(2), pages 448-457, 05. [Downloadable!] (restricted)
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  10. 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. [Downloadable!] (restricted)
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