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Consumer Valuation Of Beef Ribeye Steak Attributes

Author

Listed:
  • Lusk, Jayson L.
  • Fox, John A.

Abstract

A choice experiment (conjoint analysis) was used to investigate consumer demand for several beef ribeye steak attributes. Respondents indicated that they would prefer a "hormone free" ribeye steak priced up to $6.68/lb. more than a "non-hormone" free ribeye steak. Tenderness was also identified as an important attribute in the consumer purchasing decision as a one-unit increase in the tenderness of a steak (on a scale of one to 10) was associated with a $1.13/lb. premium. Steak marbling and whether the animal was fed genetically modified corn were of less importance to consumers.

Suggested Citation

  • Lusk, Jayson L. & Fox, John A., 2000. "Consumer Valuation Of Beef Ribeye Steak Attributes," 2000 Annual meeting, July 30-August 2, Tampa, FL 21793, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea00:21793
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    File URL: http://ageconsearch.umn.edu/record/21793/files/sp00lu01.pdf
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    References listed on IDEAS

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    2. Lawrence Rubey & Frank Lupi, 1997. "Predicting the Effects of Market Reform in Zimbabwe: A Stated Preference Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(1), pages 89-99.
    3. Lusk, Jayson & Fox, John & Schroeder, Ted & Mintert, James & Koohmaraie, Mohammad, 1999. "Will Consumers Pay for Guaranteed Tender Steak?," Staff Papers 232530, Virginia Tech, Department of Agricultural and Applied Economics.
    4. T.S. Jayne & Lawrence Rubey & Frank Lupi & David Tschirley & Michael T. Weber, 1996. "Estimating Consumer Response to Food Market Reform Using Stated Preference Data: Evidence from Eastern and Southern Africa," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(3), pages 820-824.
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    Cited by:

    1. Goss, Jody & Holcomb, Rodney B. & Ward, Clement E., 2002. "Factors Influencing Consumer Decisions Related To "Natural" Beef In The Southern Plains," Journal of Food Distribution Research, Food Distribution Research Society, vol. 33(01), March.
    2. Evans, Jason R. & D'Souza, Gerard E. & Collins, Alan R. & Brown, Cheryl & Sperow, Mark, 2011. "Determining Consumer Perceptions of and Willingness to Pay for Appalachian Grass-Fed Beef: An Experimental Economics Approach," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 40(2), August.
    3. Ventura-Lucas, Maria Raquel, 2004. "Consumer Perceptions and Attitudes Towards Food Safety in Portugal," 84th Seminar, February 8-11, 2004, Zeist, The Netherlands 24986, European Association of Agricultural Economists.
    4. Kennedy Otieno, Pambo, 2013. "Analysis of Consumer Awareness and Preferences for Fortified Sugar in Kenya," Research Theses 243455, Collaborative Masters Program in Agricultural and Applied Economics.
    5. Teratanavat, Ratapol P. & Hooker, Neal H., 2005. "Exploring Consumer Valuation and Preference Heterogeneity for Functional Foods Using a Choice Experiment: A Case Study of Tomato Juice Containing Soy in Ohio," 2005 Annual meeting, July 24-27, Providence, RI 19556, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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