scholarly journals Analysis of Consumer Preference for Milk Produced through Sustainable Farming: The Case of Mountainous Dairy Farming

2020 ◽  
Vol 12 (7) ◽  
pp. 3039 ◽  
Author(s):  
Kyungsoo Nam ◽  
Heesun Lim ◽  
Byeong-il Ahn
Keyword(s):  
Willingness To Pay ◽  
Dairy Products ◽  
Consumer Preference ◽  
Dairy Farming ◽  
Economic Feasibility ◽  
Consumer Group ◽  
Sustainable Farming ◽  
Livestock Farming ◽  
Marginal Willingness To Pay ◽  
Production Pattern

As income is rising and urbanization progressing, the consumption of meat and dairy products is increasing, especially in developing countries. However, increasing livestock production leads to challenges that need to be addressed, such as yielding environmental pollution and causing climate change. Due to these circumstances, the importance of sustainable livestock farming has been highlighted in order to effectively utilize natural resources and to protect the environment. We analyzed consumers’ preference and willingness to pay for milk, one of the representative dairy products, which was produced in a sustainable way. Among the various attributes of milk, marginal willingness to pay for “performing sustainability” through mountainous farming was estimated to be the biggest. The willingness to pay was revealed to be higher for the consumer group with a high awareness of sustainable farming than the consumer group with low awareness. The empirical results in this study suggest that it is important to consider the economic feasibility of dairy farming by forming a consensus with consumers through publicity and changing the production pattern to promote sustainability.

scholarly journals Information Values on the Consumer’s Valuation of non-GM Material: The Case of Cooking Oil in Korea

2020 ◽  
Vol 12 (19) ◽  
pp. 7876
Author(s):  
Kyungsoo Nam ◽  
Heesun Lim ◽  
Byeong-il Ahn
Keyword(s):  
Willingness To Pay ◽  
Prior Knowledge ◽  
Genetically Modified Organisms ◽  
Raw Materials ◽  
Contingent Valuation Method ◽  
Genetically Modified ◽  
Consumer Preference ◽  
Gm Crops ◽  
Consumer Group ◽  
Cooking Oil

This paper analyzes the changes in consumer preference that may occur when the current Genetically Modified (GM) crops policy is strengthened by applying mandatory labeling to all processed food that uses GM crops as raw materials. We estimate the change in consumers’ willingness to pays for cooking oil before and after providing the information on GM raw material contained in the currently marketed cooking oil to consumers. To this end, a hypothetical cooking oil product using non-GM raw materials is set up, and consumers are classified into high and low awareness groups for genetically modified organisms (GMOs) and those who prefer and do not prefer organic foods. The Contingent Valuation Method (CVM) analyses show the amount of willingness to pay before providing the information for high and low awareness groups for GMOs increases from 23.8 dollars and 18.0 dollars per 1.8 L to 25.6 dollars and 20.3 dollars, respectively. The value of the information on GM raw materials of a consumer group with high prior knowledge of GMOs is estimated to be 1.8 dollars, and the value of the information of a consumer group with low prior knowledge is estimated to be 2.4 dollars per 1.8 L. The willingness to pay (WTP) change according to the information provision of the group with the highest prior knowledge of GMOs is estimated to be 0.6 dollars, and the WTP change is estimated to be 3.6 dollars for the group with lowest prior knowledge. This implies that the lower the prior knowledge possessed by a consumer, the higher the value of information on GM raw materials elicited.

scholarly journals Estimation of the Values of Wooden Materials in Urban Regeneration: The Case of Seoullo in Korea

2021 ◽  
Vol 13 (17) ◽  
pp. 9810
Author(s):  
Heesun Lim ◽  
Chang-Deuk Eom ◽  
Byeong-il Ahn
Keyword(s):  
Willingness To Pay ◽  
Rural Areas ◽  
Energy Efficient ◽  
Urban Regeneration ◽  
Economic Feasibility ◽  
Storage Effect ◽  
Wood Material ◽  
Marginal Willingness To Pay ◽  
The Government ◽  
Tax Payments

The importance of wooden buildings has been highlighted in recent years due to the energy-efficient and carbon storage effect of wood. This study investigates the willingness to pay for one-time tax payments of the citizens currently living in Seoul when Seoullo uses wood as a material for covering the surface of the facilities. The study examines the economic feasibility of Seoullo, which is a part of the government urban regeneration project that built a park on the desolate bridge in 2017. The result indicates that Seoul citizens who participated in the survey feel a greater preference for wood material rather than existing concrete used in Seoullo despite the tax burden. As a result, it is found that the respondents with children under the age of 8, respondents who are aware of the urban regeneration project, and respondents with respiratory disease have a lower marginal willingness to pay than those in the opposite groups. Moreover, the result shows that the respondents who consider farming or returning to rural areas, respondents in need of city improvement, respondents who chose wood as a preferred building material, and respondents with the experience of visiting Seoullo have a greater marginal willingness to pay for the wooden material than those in the opposite groups.

The Interaction between Consumer Preference and Product Ethics: Implications on Coffee Trade in China

2014 ◽  
Vol 15 (1) ◽  
pp. 1-22
Author(s):  
Ping Qing ◽  
Wuyang Hu ◽  
Yun Liu
Keyword(s):  
Willingness To Pay ◽  
Linear Relationship ◽  
Consumer Preference ◽  
Regression Technique ◽  
Social Implications ◽  
Basic Definition ◽  
Amount Of Information ◽  
Product Choices

This study examines consumers??ethics concerns on their product choices in the context of coffee in China. Using an in-person survey, an interval regression technique was used to elicit willingness to pay. Respondents were randomly assigned to one of three different information scenarios including product ethics: basic definition, impact on sustainability and the environment, and information including both environmental and social implications. Results indicated that information played an important role in determining what types of consumers were responsive to ethical production. Furthermore, the amount of information provided and consumer willingness to pay did not follow a linear relationship.

scholarly journals A Choice Based Experiment of Community Supported Agriculture (CSA): A Valuation of Attributes

2018 ◽  
Vol 48 (1) ◽  
pp. 1-20 ◽  
Author(s):  
Qiushuo Yu ◽  
Ben Campbell ◽  
Yizao Liu ◽  
Jiff Martin
Keyword(s):  
Willingness To Pay ◽  
Choice Experiment ◽  
Online Survey ◽  
Risk Mitigation ◽  
Consumer Preference ◽  
Community Supported Agriculture ◽  
Organic Products

Community-supported agriculture (CSA) operators are becoming more innovative in their efforts to attract consumers to become CSA shareholders. Therefore, CSA operators must understand which attributes consumers value. Using an online survey of Connecticut consumers in conjunction with a choice experiment, we evaluate consumer preference and willingness to pay for various attributes, including risk mitigation. We find younger consumers are more likely to prefer CSAs with organic products, while a greater diversity of products in the CSA share will increase preference for a CSA for some consumers. Further, we find that consumers with and without CSA experience value the risk-mitigation attribute.

U.S. consumer preference and willingness-to-pay for domestic corn-fed beef versus international grass-fed beef measured through an experimental auction

Agribusiness ◽  
2002 ◽  
Vol 18 (4) ◽  
pp. 491-504 ◽  
Author(s):  
Wendy J. Umberger ◽  
Dillon M. Feuz ◽  
Chris R. Calkins ◽  
Karen Killinger-Mann
Keyword(s):  
Willingness To Pay ◽  
Consumer Preference ◽  
Experimental Auction

scholarly journals Consumer Information and Willingness to Pay an Additional Price for Food Safety of Dairy Products

2015 ◽  
Vol 5 (2) ◽  
pp. 53
Author(s):  
MSc. Xhevat Sopi ◽  
Dr.Sc. Engjëll Shkreli ◽  
MSc. Visar Sutaj
Keyword(s):  
Food Safety ◽  
Willingness To Pay ◽  
Dairy Products ◽  
Consumer Information ◽  
Chain Store ◽  
Premium Price ◽  
Food Quality And Safety ◽  
Information Consumers ◽  
The Impact ◽  
Additional Safety

Due to food safety incidents around the world, a number of research projects have found growing willingness to pay (WTP) premium price for additional safety of food products. However, this depends on the amount of information consumers have regarding food safety. The objective of this paper is to assess the level of information consumers have on the safety of dairy products in Kosovo and the impact of information on the consumers’ willingness to pay premium price for dairy products if they are certified with food safety standards.The results come from a survey conducted with 303 customers of Viva Fresh supermarket chain store, who were interviewed at the time of purchase in the supermarket. Descriptive statistics shows lack of knowledge of food safety; only 15% of respondents are aware of ISO9001 standard, 7% are aware of HACCP and only 10.2% of respondents can make a difference between the concepts of food quality and safety. With regard to information 66.3% of respondents have heard of food safety problems while 47.33% have heard through the media.Using a logistic regression model, the research found that consumers who have heard about the problems of food safety (p = 0.049) and those who are aware of the ISO 9001 (p = 0.002) are more likely to have a positive attitude towards WTP.

scholarly journals Revealed Preferences for Diamond Goods

2018 ◽  
Vol 10 (2) ◽  
pp. 83-117 ◽  
Author(s):  
Sam Cosaert
Keyword(s):  
Willingness To Pay ◽  
Observational Data ◽  
Revealed Preference ◽  
Conspicuous Consumption ◽  
Nonparametric Test ◽  
Revealed Preferences ◽  
Marginal Willingness To Pay ◽  
Monitoring Survey

When consumers care not only for the quantity but also the value of a product, it could be rational to purchase products as they become more expensive. This study provides nonparametric—revealed preference—conditions to measure consumers' marginal willingness to pay for value (i.e., diamondness) associated with particular goods. This is the first nonparametric test of price-dependent preferences. The proposed diamondness measure is applied to observational data from the Russia Longitudinal Monitoring Survey. The results show that this diamondness measure is related to a product's visibility to society, which indicates a certain degree of conspicuous consumption. (JEL D12, P36)

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