Document Type

Article

Journal/Book Title/Conference

Economics Research Institute Study Paper

Volume

14

Publisher

Utah State University Department of Economics

Publication Date

2001

First Page

1

Last Page

29

Abstract

This article reports the results from a series of laboratory auction markets in which consumers bid on meat characteristics. The characteristics examined include meat traceability (i.e., the ability to trace the retail meat back to the farm or animal or origin), transparency (e.g., knowing that the meat was produced without growth hormones, or knowing the animal was humanely treated), and extra assurances (e.g., extra meat safety assurances). This laboratory study provides non-hypothetical bid data on U.S. consumer preferences for traceability, transparency, and assurances (TTA) in red meat at a time when the U.S. currently lags other 111 countries in development ofTTA meat systems. Our results suggest that U.S. consumers would be willing to pay for such TT A meat characteristics, and the magnitude of the consumer bids suggest a likely profitable market for development of U.S. TTA systems.


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