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Accounting for Taste: Consumer Valuations for Food-Safety Technologies

  • David M. Bruner
  • William L. Huth
  • David M. McEvoy
  • O. Ashton Morgan

Consumers’ willingness-to-pay (WTP) for post-harvest processed (PHP) raw oysters – oysters without health risks – is studied in experimental nth-price auction markets. The experimental design decomposes the effects of taste, objective risk information, and information on four PHP technologies on consumers’ valuations. Results show that relatively uninformed consumers are willing to pay equivalent amounts for PHP and traditional raw oysters. However, after a blind taste test consumers are willing to pay a significant premium for traditional raw oysters. The premium for traditional oysters persists after objective information on risk and processing technology is provided. The results are robust over PHP technologies. Key Words: experimental auction market, food safety, risk preference elicitation, consumer perceptions, oysters

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File URL: http://econ.appstate.edu/RePEc/pdf/wp1109.pdf
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Paper provided by Department of Economics, Appalachian State University in its series Working Papers with number 11-09.

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Date of creation: 2011
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Handle: RePEc:apl:wpaper:11-09
Contact details of provider: Postal: Thelma C. Raley Hall, Boone, North Carolina 28608
Phone: 828-262-2148
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Web page: http://www.business.appstate.edu/departments/economics/

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  1. Rousu, Matthew & Huffman, Wallace & Shogren, Jason F. & Tegene, Abebayehu, 2007. "Effects and Value of Verifiable Information in a Controversial Market: Evidence from Lab Auctions of Genetically Modified Food," Staff General Research Papers 12702, Iowa State University, Department of Economics.
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  10. Marette Stéphan & Roosen Jutta & Bieberstein Andrea & Blanchemanche Sandrine & Vandermoere Frederic, 2009. "Impact of Environmental, Societal and Health Information on Consumers' Choices for Nanofood," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 7(2), pages 1-27, December.
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  24. repec:cup:cbooks:9780521855167 is not listed on IDEAS
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