Document Type
Article
Journal/Book Title/Conference
Economics Research Institute Study Paper
Volume
10
Publisher
Utah State University Department of Economics
Publication Date
2006
Rights
Copyright for this work is held by the author. Transmission or reproduction of materials protected by copyright beyond that allowed by fair use requires the written permission of the copyright owners. Works not in the public domain cannot be commercially exploited without permission of the copyright owner. Responsibility for any use rests exclusively with the user. For more information contact the Institutional Repository Librarian at digitalcommons@usu.edu.
First Page
1
Last Page
30
Abstract
This research used Vickrey auctions to generate willingness-to-pay (WTP) data for red meat traceability and related product characteristics using comparable experimental auctions in the US, Canada, the UK, and Japan. The results show that subjects are willing to pay a nontrivial premium for traceability, but the same subjects show even higher WTP for traceability-provided characteristics like additional meat safety and humane animal treatment guarantees. The implication is that producers might be able to implement traceable meat systems profitably by tailoring the verifiable characteristics of the product to consumer preferences.
Recommended Citation
Dickenson, David L. and Bailey, DeeVon, "Willingness-to-Pay For Information: Experimental Evidence on Red Meat Traceability For the US, Canada, the U.K., and Japan" (2006). Economic Research Institute Study Papers. Paper 323.
https://digitalcommons.usu.edu/eri/323