scholarly journals Eat MO beef : effects of regional labeling on Missouri consumers' beef preferences

2021 ◽  
Author(s):  
◽  
Caleb Robertson
Keyword(s):  
Willingness To Pay ◽  
Discrete Choice ◽  
Value Added ◽  
Processing Capacity ◽  
Discrete Choice Analysis ◽  
Meat Processing ◽  
Choice Analysis ◽  
Additional Processing ◽  
Consumer Data ◽  
Recent Activity

With recent activity suggesting a desire to increase Missouri's meat processing capacity, it is necessary to provide consumer data for industry consideration. The objective of this research is to empirically measure Missouri consumers' willingness-to-pay for various beef attributes and how this varies by age and location of respondents. Through a statewide survey and discrete choice analysis, this study found statistically significant premiums for all three variables under consideration: Missouri grown, local, and USDA prime. Of these, local demanded the highest premium across all demographics with a maximum of 2.23 [dollars] per pound of top loin steak. These premiums are indicative of value-added opportunities, but do not account for additional processing costs incurred and therefore do not guarantee increased profitability.

scholarly journals Determination of Additional Willingness to Pay for Socially Responsible Technical Products Using Discrete Choice Analysis

2016 ◽  
Vol 6 (1) ◽  
pp. 45
Author(s):  
Florian Vincent Haase ◽  
Maria Kohlmeyer ◽  
Beatrice Rich ◽  
Ralf Woll
Keyword(s):  
Social Responsibility ◽  
Willingness To Pay ◽  
Discrete Choice ◽  
Discrete Choice Analysis ◽  
Socially Responsible ◽  
Choice Analysis ◽  
Primary Goods ◽  
Technical Products

<p>Previous studies examined additional willingness to pay for socially responsible primary goods. However, technical products have not been considered. Therefore, the purpose of this study is to estimate additional willingness to pay for socially responsible technical products. Within an overview of given methods for measuring willingness to pay, the discrete choice analysis was applied to this study. As technical products, computer mice were chosen exemplary, since there is a partially fair mouse available. It was found that two of three fair labeled mice have a negative willingness to pay. Only consumers of the fair produced and labeled mouse has a positive willingness to pay. The consumers pay perhaps more attention to the aspect of social responsibility, if presented brands are comparatively unknown. In this connection, consumers allocate a higher value to social responsibility.</p>

scholarly journals A Discrete Choice Analysis Of Smallholder Farmers' Preferences And Willingness To Pay For Weather Derivatives: Evidence From Ethiopia

2014 ◽  
Vol 30 (6) ◽  
pp. 1671 ◽  
Author(s):  
Davide Castellani ◽  
Laura Vigan0 ◽  
Belaynesh Tamre
Keyword(s):  
Willingness To Pay ◽  
Financial Markets ◽  
Discrete Choice ◽  
Smallholder Farmers ◽  
Mixed Logit ◽  
Discrete Choice Analysis ◽  
Promising Alternative ◽  
Administrative Costs ◽  
Choice Analysis ◽  
Rational Choices

The ability of Ethiopian farmers to deal with rainfall risk is scanty due to the extension of land plots and incomplete and inefficient financial markets. Traditional drought insurance is flawed by information asymmetries, high administrative costs, and non-diversifiable risks. Insurance based on indexes is a promising alternative. Working on 120 rural households, we estimate the willingness to pay for a drought weather derivative through a mixed logit model allowing for random preferences. The results suggest that the premium, indemnity, and perceived frequency of drought are important determinants of the take-up. Apparent inconsistencies in behavior can be interpreted as rational choices.

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