Market Evidence of Packer Willingness to Pay for Traceability
This article measures the willingness to pay for the traceability of steers. I use data on the price of steers in Quebec and Ontario to identify a demand shifter in a hedonic framework. I estimate error correction models to provide the first market-based econometric estimates of the willingness to pay for traceability. My best assessment is that a premium between C$0.02 and C$0.05 per pound of carcass (between 1.2% and 3.1%) is paid for traceable steers.
|Date of creation:||17 Apr 2011|
|Publication status:||Published in American Journal of Agricultural Economics, April 2011, vol. 93 no. 3, pp. 735-751|
|Contact details of provider:|| Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070|
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
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