Experimental Evidence on Willingness to Pay of Red Meat Traceability in the United States, Canada, the United Kingdom, and Japan

Document Type

Article

Journal/Book Title/Conference

Journal of Agricultural and Applied Economics

Volume

37

Publication Date

2005

First Page

537

Last Page

548

Abstract

We employed Vickrey auctions to generate willingness-to-pay (WTP) data for red meat traceability and related product characteristics with comparable experimental auctions in the United States, Canada, the U.K., 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.

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