English, Article, Journal or magazine article edition: Experimental Evidence of Risk Aversion in Consumer Markets: The Case of Beef Tenderness Alfnes, Frode; Rickertsen, Kyrre; Ueland, Oydis

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Bookmark: http://trove.nla.gov.au/version/148784
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Experimental Evidence of Risk Aversion in Consumer Markets: The Case of Beef Tenderness
Author
  • Alfnes, Frode
  • Rickertsen, Kyrre
  • Ueland, Oydis
Physical Description
  • preprint
Notes
  • Consistency of quality is important for brand loyalty and market share in consumer markets. Among consumers of beef, tenderness is the primary quality attribute. We use an experimental auction market to investigate how inconsistency in tenderness affects consumers’ willingness to pay (WTP) for beef. We find that both the level and the spread of tenderness affect consumers’ WTP for beef. Categorization the beef into various classes of tenderness increased the total value of the beef by 8%, which suggests that improved tenderness labeling may be a profitable strategy.
  • beef tenderness, consumer demand, experimental auction, marketing, risk aversion, Consumer/​Household Economics, C91, D12, D8, Q13,
  • RePEc:ags:eaae05:24553
  • We use an experimental auction market to investigate how inconsistency in tenderness affects consumers' WTP for beef. We find that both the level and the spread of tenderness affect consumers' WTP. Categorization the beef into various classes of tenderness increased the total value of the beef by 8%.
  • Consumer/​Household Economics,
  • RePEc:ags:aaea05:19285
Language
  • English
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