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 Sustainable agri-food products: A review of consumer preference studies through experimental economics

2018 ◽  
Vol 64 (No. 12) ◽  
pp. 554-565 ◽  
Author(s):  
Lucio CECCHINI ◽  
Biancamaria TORQUATI ◽  
Massimo CHIORRI
Keyword(s):  
Willingness To Pay ◽  
Experimental Economics ◽  
Consumer Choice ◽  
Consumer Preferences ◽  
Consumer Preference ◽  
Food Products ◽  
Sustainable Food ◽  
Additional Information ◽  
Premium Price ◽  
Increased Sensitivity

In the last few decades, the interest of consumers towards sustainable agri-food products has been growing. This trend reflects changes in the consumption patterns, which have been deeply influenced by the increased sensitivity concerning social and environmental issues. In this sense, several studies, with different methodological approaches, have investigated consumers’ willingness to pay and its determinants for products with different sustainability labels. To systematise the obtained results, this paper offers a review of the studies that used experimental economics in studying consumer preferences for sustainable food and agricultural products. The 41 studies included in the review were selected on the basis of the pre-identified criterion according to the systematic review approach. Albeit discordant, the results show that a large share of consumers is willing to pay a premium price for products with eco-friendly and organic certifications. Animal welfare, ‘local’ production, or social certification appear to have a lower influence on consumer choice of purchasing. Additional information is able to modify consumer expectations and consequentially their willingness to pay, depending on the individual’s responsibility and awareness.

A Study on Behavioral Intention of Consumers Purchasing Fine Decoration Residence Based on Logit Model

2013 ◽  
Vol 838-841 ◽  
pp. 3208-3211 ◽  
Author(s):  
Ying Wang ◽  
Jing Guo
Keyword(s):  
Willingness To Pay ◽  
Behavioral Intention ◽  
Consumer Choice ◽  
Logit Model ◽  
Choice Behavior ◽  
Main Factors ◽  
Consumer Choice Behavior

This paper use the investigation data of Xi'an as the foundation, to examine consumer choice behavior of fine decoration residence. It analyzes the main factors which influence consumer choice behavior of fine decoration residence by using logit model. The results show that culture degree of consumer, understanding of fine decoration residence, willingness to pay as well as views on the quality of the decoration and style of fine decoration residence have a significant impact on consumer decisionmaking behavior in purchasing.

scholarly journals THE EFFECT OF CONSUMER PERCEPTIONS AND LIFESTYLE ON WILLINGNESS TO PAY PREMIUM PRICE WAGYU PRODUCTS

2020 ◽  
Vol 16 (2) ◽  
pp. 129
Author(s):  
Yuli Kartika Dewi ◽  
Jessica Gosal Gosal
Keyword(s):  
Regression Analysis ◽  
Willingness To Pay ◽  
Research Method ◽  
Quantitative Research ◽  
Meat Products ◽  
Sampling Technique ◽  
Total Sample ◽  
Analytical Tool ◽  
Consumer Perceptions ◽  
Premium Price

<p class="Abstract1">Willingness to pay premium price is the willingness of individuals to spend a greater amount of money with the aim of getting a product or service of higher quality than other products or services. This study conducted a study of the effect of consumer perceptions and lifestyles on the willingness to pay premium prices of Wagyu products. As we know that the price of Wagyu beef is quite high, around Rp. 300,000 - Rp. 850,000 per kilogram depending on the quality. The purpose of this study was to determine: (1) the effect of consumer perceptions on the willingness to pay premium prices of Wagyu products; (2) the influence of lifestyle on the willingness to pay premium price of Wagyu products. The research method used is quantitative research. The population in this study are all consumers who have bought Wagyu meat in different cities with an infinite amount. Sampling in this study used a purposive sampling technique with a total sample of 123 people who had bought Wagyu products. Data collection techniques using a questionnaire with a Likert scale. This study uses multiple regression analysis test as an analytical tool to test hypotheses. Data from the questionnaire were analyzed to test factors and test variables using SPSS 21. The results of this study showed: (1) consumer perceptions had a positive and significant effect on willingness to pay premium prices for Wagyu meat products; (2) lifestyle has a positive and significant effect on the willingness to pay premium prices of Wagyu products.</p>

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 The attitude of consumers towards “Made in Italy” products. An empirical analysis among Italian customers

2019 ◽  
Vol 14 (1) ◽  
pp. 31-47 ◽  
Author(s):  
Lucio Cappelli ◽  
Fabrizio D’ascenzo ◽  
Roberto Ruggieri ◽  
Francesca Rossetti ◽  
Alessandra Scalingi
Keyword(s):  
Willingness To Pay ◽  
Empirical Investigation ◽  
Public Policies ◽  
Food Sector ◽  
Premium Price ◽  
Research Questions ◽  
The Relationship ◽  
Theoretical Standpoint ◽  
Made In

Abstract The paper is part of a broader research project studying consumer’s attitude towards “Made in Italy” products through empirical investigation. The research questions addressed are: 1) Does recognition in terms of the qualitative characterization of “Made in Italy” products exist? And if so, 2) are people willing to pay, in quantitative terms, a premium price for such products? From a theoretical standpoint, the research seeks to fill a gap in the literature, since studies combining the “made in” characteristic with measured “willingness to pay” are neither conventional nor numerous. The specific purpose of this contribution is to analyze the relationship between the purchase of “Made in Italy” products, recognition of the quality and willingness to pay a premium price on the part of Italian consumers, reporting the results of an empirical research. The survey involved a total of 315 Italian consumers while three commodity sectors were analysed: food, fashion and mechanical automation. The results confirm that there is a propensity to purchase “Made in Italy” products which does not seem to be a matter of irrational consumer behaviour. “Made in Italy” is confirmed as a conceptual category consolidated in the minds of consumers, since there is clear recognition of these products in terms of qualitative characterization. These and other results of the research (which need to be confirmed and extended with further empirical investigations) should prove relevant both to the literature and as indications for public policies and the strategies of companies operating in the sectors examined. For the literature this research can be useful because there is no complete overview of quantitative data on the premium price. It can also serve for public policies because quantification of the premium price can influence the choices and strategies of companies. This study shows a significant willingness to pay a premium price for the three sectors analyzed, although the premium price is not homogeneous: while the measures range mostly between 10 and 30%, higher values appear for products in the food sector.

scholarly journals The Willingness to Pay in the Food Sector. Testing the Hypothesis of Consumer Preferences for Some Made in Italy Products

2020 ◽  
Vol 12 (15) ◽  
pp. 6275 ◽  
Author(s):  
Lucio Cappelli ◽  
Fabrizio D’Ascenzo ◽  
Maria Felice Arezzo ◽  
Roberto Ruggieri ◽  
Irina Gorelova
Keyword(s):  
Willingness To Pay ◽  
Consumer Preferences ◽  
Value Systems ◽  
Specific Reference ◽  
Extensive Literature ◽  
Food Sector ◽  
Sustainable Food ◽  
Mass Consumption ◽  
Premium Price ◽  
Made In

Previous publications have shown that Italian consumers are willing to pay a premium price for certain categories of Made in Italy products. The premium price has proven to be higher in the food sector. This study provides an extensive literature review on the topic and aims to test a hypothesis regarding consumer preferences towards some Made in Italy food products of mass consumption (olive oil, meat and fish), with specific reference to the value systems that influence the purchase. This paper studies the correlation between the potential willingness to pay a premium price for the mentioned products and the characteristics of consumers’ sample. The results obtained confirm the willingness to pay for Made in Italy products and correlate the willingness to pay a premium price with the level of education of the respondents to the questionnaire. Thus, these findings show that consumers with a higher educational level tend to make more sustainable food choices and by doing so lean toward a sustainable lifestyle.

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.

scholarly journals Pavlovian Processes in Consumer Choice: The Physical Presence of a Good Increases Willingness-to-Pay

2010 ◽  
Vol 100 (4) ◽  
pp. 1556-1571 ◽  
Author(s):  
Benjamin Bushong ◽  
Lindsay M King ◽  
Colin F Camerer ◽  
Antonio Rangel
Keyword(s):  
Willingness To Pay ◽  
Consumer Choice ◽  
Laboratory Experiments ◽  
The Real ◽  
Physical Presence ◽  
Image Displays

This paper describes a series of laboratory experiments studying whether the form in which items are displayed at the time of decision affects the dollar value that subjects place on them. Using a Becker-DeGroot auction under three different conditions—(i) text displays, (ii) image displays, and (iii) displays of the actual items—we find that subjects' willingness-to-pay is 40–61 percent larger in the real than in the image and text displays. Furthermore, follow-up experiments suggest the presence of the real item triggers preprogrammed consummatory Pavlovian processes that promote behaviors that lead to contact with appetitive items whenever they are available. (JEL C91, D03, D12, D87)

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