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A Non-Hypothetical and Incentive Compatible Method for Estimating Consumer Willingness-to-Pay for a Novel Functional Food: The Case of Pomegranates

Author

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  • McAdams, Callie P.
  • Palma, Marco A.
  • Ishdorj, Ariun
  • Hall, Charles R.

Abstract

A preference and valuation mechanism that compared results of an experimental auction and nonhypothetical preference rankings was developed and used to elicit preferences for pomegranate products from a representative sample of shoppers in Texas. Familiarity with pomegranate products increased willingness-to-pay (WTP) for pomegranates, as did tasting and providing additional information on the health benefits of the products. Ready-to-eat and juice products were preferred to whole fruit products. Subjects did not indicate an increased WTP for Texas varieties over California Wonderful pomegranate based on auction bids but indicated a preference for one Texas variety in the nonhypothetical ranking procedure; thus, the auction results and nonhypothetical preference ranking procedures were divergent. Further, there were interaction effects of the information treatments with the product characteristics.

Suggested Citation

  • McAdams, Callie P. & Palma, Marco A. & Ishdorj, Ariun & Hall, Charles R., 2011. "A Non-Hypothetical and Incentive Compatible Method for Estimating Consumer Willingness-to-Pay for a Novel Functional Food: The Case of Pomegranates," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103682, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea11:103682
    DOI: 10.22004/ag.econ.103682
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    Keywords

    Food Consumption/Nutrition/Food Safety; Marketing;

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