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Factors Explaining the Consumers' Willingness-to-Pay for a "Typical" Food Product in Spain: Evidence from Experimental Auctions

Author

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  • Akaichi, Faiçal
  • Gil, Jose Maria

Abstract

A random nth price experimental auction is used to elicit the willingness to pay (WTP) a premium for the locally produced and high quality white bean "Mongeta Ganxet" (MG) (Catalonia - Spain). Moreover, we are interested in testing the effect on the WTP of providing different pieces of information to participants. Results indicate that the provision of information on organoleptic, nutritional and cooking characteristics of the MG as well as their tasting has increased participants' WTP. Also, providing reference prices of substitutive products (both conventional and alternative high quality white beans) positively stimulates the premium participants are willing to pay for the MG. Finally, the level of consumption, the degree of knowledge about the product and the participants' previous experience increase the purchasing intention of the MG.

Suggested Citation

  • Akaichi, Faiçal & Gil, Jose Maria, 2008. "Factors Explaining the Consumers' Willingness-to-Pay for a "Typical" Food Product in Spain: Evidence from Experimental Auctions," 2009 Conference, August 16-22, 2009, Beijing, China 50107, International Association of Agricultural Economists.
    • Handle: RePEc:ags:iaae09:50107
    DOI: 10.22004/ag.econ.50107
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    References listed on IDEAS

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    1. Jason F. Shogren & John A. List & Dermot J. Hayes, 2000. "Preference Learning in Consecutive Experimental Auctions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(4), pages 1016-1021.
    2. 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.
    3. Jason F. Shogren & Dermot J. Hayes & James B. Kliebenstein & John A. Fox, 1994. "Bid Sensitivity and the Structure of the Vickrey Auction," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(5), pages 1089-1095.
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    Cited by:

    1. Claudio Acciani & Annalisa De Boni & Francesco Bozzo & Rocco Roma, 2020. "Pulses for Healthy and Sustainable Food Systems: The Effect of Origin on Market Price," Sustainability, MDPI, vol. 13(1), pages 1-15, December.
    2. Berges, Miriam & Casellas, Karina & Rodríguez, Ricardo & Errea, Damián, 2015. "Willingness to pay for quality attributes of fresh beef. Implications on the retail marketing," Nülan. Deposited Documents 2317, Universidad Nacional de Mar del Plata, Facultad de Ciencias Económicas y Sociales, Centro de Documentación.
    3. Berges, Miriam & Casellas, Karina & Rodriguez, Ricardo & Errea, Damian, 2015. "Willingness to Pay for Quality Attributes of Fresh Beef Implications on the Retail Marketing," 2015 Conference, August 9-14, 2015, Milan, Italy 211330, International Association of Agricultural Economists.
    4. Deselnicu, Oana C. & Costanigro, Marco & Souza-Monteiro, Diogo M. & McFadden, Dawn Thilmany, 2013. "A Meta-Analysis of Geographical Indication Food Valuation Studies: What Drives the Premium for Origin-Based Labels?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 38(2), pages 1-16, August.

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