Consumer Willingness to Pay Price Premiums for Credence Attributes of Livestock Products – A Meta‐Analysis

2019 ◽  
Vol 70 (3) ◽  
pp. 618-639 ◽  
Author(s):  
Wei Yang ◽  
Alan Renwick
Keyword(s):  
Willingness To Pay ◽  
Meta Analysis ◽  
Price Premiums ◽  
Credence Attributes ◽  
Livestock Products

scholarly journals The Impact of Environmental Sustainability Labels on Willingness-to-Pay for Foods: A Systematic Review and Meta-Analysis of Discrete Choice Experiments

Nutrients ◽  
2021 ◽  
Vol 13 (8) ◽  
pp. 2677
Author(s):  
Anastasios Bastounis ◽  
John Buckell ◽  
Jamie Hartmann-Boyce ◽  
Brian Cook ◽  
Sarah King ◽  
...  
Keyword(s):  
Willingness To Pay ◽  
Discrete Choice ◽  
Environmental Sustainability ◽  
Purchasing Power Parity ◽  
Meta Analysis ◽  
Choice Experiments ◽  
Discrete Choice Experiments ◽  
Environmental Damage ◽  
Environmentally Sustainable ◽  
The Impact

Food production is a major contributor to environmental damage. More environmentally sustainable foods could incur higher costs for consumers. In this review, we explore whether consumers are willing to pay (WTP) more for foods with environmental sustainability labels (‘ecolabels’). Six electronic databases were searched for experiments on consumers’ willingness to pay for ecolabelled food. Monetary values were converted to Purchasing Power Parity dollars and adjusted for country-specific inflation. Studies were meta-analysed and effect sizes with confidence intervals were calculated for the whole sample and for pre-specified subgroups defined as meat-dairy, seafood, and fruits-vegetables-nuts. Meta-regressions tested the role of label attributes and demographic characteristics on participants’ WTP. Forty-three discrete choice experiments (DCEs) with 41,777 participants were eligible for inclusion. Thirty-five DCEs (n = 35,725) had usable data for the meta-analysis. Participants were willing to pay a premium of 3.79 PPP$/kg (95%CI 2.7, 4.89, p ≤ 0.001) for ecolabelled foods. WTP was higher for organic labels compared to other labels. Women and people with lower levels of education expressed higher WTP. Ecolabels may increase consumers’ willingness to pay more for environmentally sustainable products and could be part of a strategy to encourage a transition to more sustainable diets.

scholarly journals The Sustainable Seafood Movement Is a Governance Concert, with the Audience Playing a Key Role

2018 ◽  
Vol 10 (1) ◽  
pp. 180 ◽  
Author(s):  
Kate Barclay ◽  
Alice Miller
Keyword(s):  
Literature Review ◽  
Willingness To Pay ◽  
Market Share ◽  
Consumer Demand ◽  
Price Premiums ◽  
Private Standards ◽  
Sustainable Seafood ◽  
Individual Actor ◽  
Qualitative Literature ◽  
Sustainable Sourcing

Private standards, including ecolabels, have been posed as a governance solution for the global fisheries crisis. The conventional logic is that ecolabels meet consumer demand for certified “sustainable” seafood, with “good” players rewarded with price premiums or market share and “bad” players punished by reduced sales. Empirically, however, in the markets where ecolabeling has taken hold, retailers and brands—rather than consumers—are demanding sustainable sourcing, to build and protect their reputation. The aim of this paper is to devise a more accurate logic for understanding the sustainable seafood movement, using a qualitative literature review and reflection on our previous research. We find that replacing the consumer-driven logic with a retailer/brand-driven logic does not go far enough in making research into the sustainable seafood movement more useful. Governance is a “concert” and cannot be adequately explained through individual actor groups. We propose a new logic going beyond consumer- or retailer/brand-driven models, and call on researchers to build on the partial pictures given by studies on prices and willingness-to-pay, investigating more fully the motivations of actors in the sustainable seafood movement, and considering audience beyond the direct consumption of the product in question.

scholarly journals The Role of Credence Attributes in Consumer Choices of Sustainable Fish Products: A Review

2020 ◽  
Vol 12 (23) ◽  
pp. 8
Author(s):  
Giulia Maesano ◽  
Giuseppe Di Vita ◽  
Gaetano Chinnici ◽  
Gioacchino Pappalardo ◽  
Mario D'Amico
Keyword(s):  
Willingness To Pay ◽  
Consumer Choice ◽  
Research Question ◽  
Taste Perception ◽  
Fish Welfare ◽  
Fish Products ◽  
Credence Attributes ◽  
Consumer Choices ◽  
Premium Price ◽  
By Catch

This review aims to assess consumer choices of sustainable fish products, considering a number of attributes that have been considered in the academic literature on this topic. In order to examine the effectiveness of sustainable labels, the research question was focused on the relation between sustainable fish labels and consumers’ willingness to pay (WTP). The findings showed how, overall, consumers have positive perceptions regarding sustainable fish products and show a willingness to pay a premium price for the attribute of sustainability. According to the results, the country of origin attribute was found to be the most important attribute in relation to consumer choice. The results indicated a high WTP for local fish products, relative to imported alternatives. Consumers prefer wild-caught fish for its perceived quality, better safety and health aspects, and taste perception than the farm-raised option. As for animal welfare, the results show that consumers are willing to pay a moderate premium price for products that have an improved fish welfare or those that avoid by-catch, such as products with eco-labels like “turtle safe”. With regard to organic labels, the studies identified a positive organic price premium for fish products. However, organic labels do not play a major role in consumer choice, when compared with other attributes.

scholarly journals Cost-effectiveness of selective digestive decontamination (SDD) versus selective oropharyngeal decontamination (SOD) in intensive care units with low levels of antimicrobial resistance: an individual patient data meta-analysis

BMJ Open ◽  
2019 ◽  
Vol 9 (9) ◽  
pp. e028876 ◽  
Author(s):  
Denise van Hout ◽  
Nienke L Plantinga ◽  
Patricia C Bruijning-Verhagen ◽  
Evelien A N Oostdijk ◽  
Anne Marie G A de Smet ◽  
...  
Keyword(s):  
Intensive Care ◽  
Cost Effectiveness ◽  
Antimicrobial Resistance ◽  
Hospital Mortality ◽  
Willingness To Pay ◽  
Individual Patient Data ◽  
Meta Analysis ◽  
Hospital Death ◽  
Selective Oropharyngeal Decontamination ◽  
Low Levels

ObjectiveTo determine the cost-effectiveness of selective digestive decontamination (SDD) as compared to selective oropharyngeal decontamination (SOD) in intensive care units (ICUs) with low levels of antimicrobial resistance.DesignPost-hoc analysis of a previously performed individual patient data meta-analysis of two cluster-randomised cross-over trials.Setting24 ICUs in the Netherlands.Participants12 952 ICU patients who were treated with ≥1 dose of SDD (n=6720) or SOD (n=6232).InterventionsSDD versus SOD.Primary and secondary outcome measuresThe incremental cost-effectiveness ratio (ICER; ie, costs to prevent one in-hospital death) was calculated by comparing differences in direct healthcare costs and in-hospital mortality of patients treated with SDD versus SOD. A willingness-to-pay curve was plotted to reflect the probability of cost-effectiveness of SDD for a range of different values of maximum costs per prevented in-hospital death.ResultsThe ICER resulting from the fixed-effect meta-analysis, adjusted for clustering and differences in baseline characteristics, showed that SDD significantly reduced in-hospital mortality (adjusted absolute risk reduction 0.0195, 95% CI 0.0050 to 0.0338) with no difference in costs (adjusted cost difference €62 in favour of SDD, 95% CI –€1079 to €935). Thus, SDD yielded significantly lower in-hospital mortality and comparable costs as compared with SOD. At a willingness-to-pay value of €33 633 per one prevented in-hospital death, SDD had a probability of 90.0% to be cost-effective as compared with SOD.ConclusionIn Dutch ICUs, SDD has a very high probability of cost-effectiveness as compared to SOD. These data support the implementation of SDD in settings with low levels of antimicrobial resistance.

scholarly journals Verifying Credence Attributes in Livestock Production

2010 ◽  
Vol 42 (3) ◽  
pp. 439-452 ◽  
Author(s):  
Nicole J. Olynk ◽  
Glynn T. Tonsor ◽  
Christopher A. Wolf
Keyword(s):  
Decision Making ◽  
Willingness To Pay ◽  
Production Process ◽  
Consumer Demand ◽  
Livestock Production ◽  
Farm Level ◽  
Credence Attributes ◽  
Selection Of

Livestock producers can respond to increasing consumer demand for certain production process attributes by providing verifiable information on the practices used. Consumer willingness to pay data were used to inform producer decision-making regarding selection of verification entities for four key production process attributes in the production of pork chops and milk. The potential for informing farm-level decision-making with information about consumer demand for product and production process attributes exists beyond the two products assessed as example cases in this analysis.

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