Willingness to Pay for Imported Beef and Risk Perception: An application of Individual-Level Parameter
The controversy surrounding the Mandatory Country-of-Origin Labeling (COOL) has attracted research attentions. A number of studies have reported consumers are willing to pay more for beef labeled with U.S. origin versus beef from unknown or other origins. Despite that, relatively little is known about what motivates consumers’ preference for origin-labeled food products (Lusk et al 2006). Using Individual-Level Parameters following a mixed logit model, we found that U.S. consumers were willing to pay significantly less for imported steak from Australia and Canada compare to U.S. steak. Further, we found that the negative willingness to pay is associated strongly with consumers’ perception of food safety on the exporting country.
|Date of creation:||17 Jan 2012|
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- Caswell, Julie A., 1998. "How Labeling Of Safety And Process Attributes Affects Markets For Food," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 27(2), October.
- Søren Olsen, 2009. "Choosing Between Internet and Mail Survey Modes for Choice Experiment Surveys Considering Non-Market Goods," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 44(4), pages 591-610, December.
- Jayson L. Lusk & Jason Brown & Tyler Mark & Idlir Proseku & Rachel Thompson & Jody Welsh, 2006. "Consumer Behavior, Public Policy, and Country-of-Origin Labeling," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 28(2), pages 284-292.
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