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Consumer willingness to pay for traditional food products

Balogh, Péter and Bekesi, Daniel and Gorton, Matthew and Popp, József and Lengyel, Péter (2016) Consumer willingness to pay for traditional food products. Food Policy, 61. pp. 176-184. ISSN 0306-9192

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Abstract

Reflecting the growing interest from both consumers and policymakers, and building on recent developments in Willingness to Pay (WTP) methodologies, we evaluate consumer preferences for an archetypal traditional food product. Specifically we draw on stated preference data from a discrete choice experiment, considering the traditional Hungarian mangalitza salami. A WTP space specification of the generalized multinomial logit model is employed, which accounts for not only heterogeneity in preferences but also differences in the scale of the idiosyncratic error term. Results indicate that traditional food products can command a substantial premium, albeit contingent on effective quality certification, authentic product composition and effective choice of retail outlet. Promising consumer segments and policy implications are identified. (authors' abstract)

Item Type: Article
Keywords: Traditional Foods / Discrete choice Experiment / Preference heterogeneity / Generalized multinomial logit model / WTP space
Divisions: Departments > Volkswirtschaft > Volkswirtschaftspolitik u Industrieökon.
Version of the Document: Published
Depositing User: Gertraud Novotny
Date Deposited: 26 Apr 2016 12:15
Last Modified: 20 Sep 2017 04:37
Related URLs:
FIDES Link: https://bach.wu.ac.at/d/research/results/76849/
URI: http://epub.wu.ac.at/id/eprint/5018

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