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Evaluating Willingness-to-Pay for Bison Attributes: An Experimental Auction Approach

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  • Jill E. Hobbs
  • Kim Sanderson
  • Morteza Haghiri

Abstract

"Domestic bison herds in Canada and the United States have grown rapidly over the past decade. For this growth to be sustainable, viable markets for bison meat products are necessary. Bison products are available at the retail level to only a limited extent in some localized markets. Very little is known about consumer preferences for bison in Canada. A consumer research study was conducted across five Canadian locations. An experimental auction was used to evaluate willingness-to-pay (WTP) for bison versus beef, plus the marginal WTP for bison with additional health-related attributes. Bison products verified to be lower in fat than beef, and bison verified to have been produced without the use of growth hormones were evaluated. Results suggest that there was no significant WTP for bison over beef, either with or without the additional quality assurances. Delivering a positive eating experience to consumers was more important than the health-related attributes "per se". Distinct market segments with significantly different WTP for bison are identified. Some regional differences are also apparent. The industry cannot rely solely on the touted health benefits of bison to deliver a competitive advantage over beef. While some consumers may be willing to pay more for these health-related attributes, consumers in general are unlikely to compromise eating experience." Copyright 2006 Canadian Agricultural Economics Society.

Suggested Citation

  • Jill E. Hobbs & Kim Sanderson & Morteza Haghiri, 2006. "Evaluating Willingness-to-Pay for Bison Attributes: An Experimental Auction Approach," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 54(2), pages 269-287, June.
  • Handle: RePEc:bla:canjag:v:54:y:2006:i:2:p:269-287
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    References listed on IDEAS

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    1. Menkhaus, Dale J., 2001. "Experimental Auctions: New Theoretical Developments And Empirical Findings - Discussion," 2001 Annual Meeting, July 8-11, 2001, Logan, Utah 36112, Western Agricultural Economics Association.
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    Cited by:

    1. Baba, Yasmina & Kallas, Zein & Gil, Jose M. & Realini, Carolina, 2015. "Impact of hedonic evaluation on consumers’ preferences for beef enriched with Omega 3: A Generalized Multinomial Logit Model approach," 2015 Conference, August 9-14, 2015, Milan, Italy 211191, International Association of Agricultural Economists.
    2. Hans D. Steur & Jeroen Buysse & Shuyi Feng & Xavier Gellynck, 2013. "Role of Information on Consumers’ Willingness-to-pay for Genetically-modified Rice with Health Benefits: An Application to China," Asian Economic Journal, East Asian Economic Association, vol. 27(4), pages 391-408, December.
    3. Bodo Steiner & Fei Gao & Jim Unterschultz, 2010. "Alberta Consumers' Valuation of Extrinsic and Intrinsic Red Meat Attributes: A Choice Experimental Approach," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 58(2), pages 171-189, June.
    4. Giovannucci, Daniele & Josling, Timothy & Kerr, William & O'Connor, Bernard & Yeung, May T., 2009. "Guide to Geographical Indications: Linking Products and Their Origins (Summary)," MPRA Paper 27955, University Library of Munich, Germany.
    5. Hellyer, Nicole Elizabeth & Fraser, Iain & Haddock-Fraser, Janet, 2010. "Food Choice, Nutritional Information And Functional Ingredients: An Experimental Auction Employing Bread," 115th Joint EAAE/AAEA Seminar, September 15-17, 2010, Freising-Weihenstephan, Germany 116424, European Association of Agricultural Economists;Agricultural and Applied Economics Association.
    6. Combris, Pierre & Pinto, Alexandra Seabra & Fragata, Antonio & Giraud-Heraud, Eric, 2007. "Does taste beat food safety? Evidence from the Pera Rocha case in Portugal," 105th Seminar, March 8-10, 2007, Bologna, Italy 7879, European Association of Agricultural Economists.
    7. Hellyer, Nicole Elizabeth & Fraser, Iain & Haddock-Fraser, Janet, 2012. "Food choice, health information and functional ingredients: An experimental auction employing bread," Food Policy, Elsevier, vol. 37(3), pages 232-245.
    8. Maria Aguiar Fontes & Eric Giraud-Héraud & Alexandra Seabra Pinto, 2013. "Consumers' behaviour towards food safety: A litterature review," Working Papers hal-00912476, HAL.

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