Valuing traceability of imported beef in Korea: an experimental auction approach
- Authors
- Lee, Ji Yong; Han, Doo Bong; Nayga, Rodolfo M., Jr.; Lim, Song Soo
- Issue Date
- 7월-2011
- Publisher
- WILEY
- Keywords
- beef; experimental auction; information effect; traceability; willingness to pay
- Citation
- AUSTRALIAN JOURNAL OF AGRICULTURAL AND RESOURCE ECONOMICS, v.55, no.3, pp.360 - 373
- Indexed
- SCIE
SSCI
SCOPUS
- Journal Title
- AUSTRALIAN JOURNAL OF AGRICULTURAL AND RESOURCE ECONOMICS
- Volume
- 55
- Number
- 3
- Start Page
- 360
- End Page
- 373
- URI
- https://scholar.korea.ac.kr/handle/2021.sw.korea/112037
- DOI
- 10.1111/j.1467-8489.2011.00553.x
- ISSN
- 1364-985X
- Abstract
- The major objective of this study is to estimate Korean food shoppers' willingness to pay (WTP) for imported beef with traceability. We use an experimental elicitation method, the random nth price auction, to identify consumers' valuation for traceable imported beef. We also analyse the effect of different types of information on these valuations. Results indicate that consumers are generally willing to pay a 39 per cent premium for the traceable imported beef over similar beef without traceability. Results also suggest that in contrast to the insignificant effect of positive information, negative and two-sided information about traceability significantly reduces WTP.
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Collections - College of Life Sciences and Biotechnology > Department of Food and Resource Economics > 1. Journal Articles
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