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A Non-Hypothetical and Incentive Compatible Method for Estimating Consumer Willingness-to-Pay for a Novel Functional Food: The Case of Pomegranates AgEcon
McAdams, Callie P.; Palma, Marco A.; Ishdorj, Ariun; Hall, Charles R..
A preference and valuation mechanism that compared results of an experimental auction and nonhypothetical preference rankings was developed and used to elicit preferences for pomegranate products from a representative sample of shoppers in Texas. Familiarity with pomegranate products increased willingness-to-pay (WTP) for pomegranates, as did tasting and providing additional information on the health benefits of the products. Ready-to-eat and juice products were preferred to whole fruit products. Subjects did not indicate an increased WTP for Texas varieties over California Wonderful pomegranate based on auction bids but indicated a preference for one Texas variety in the nonhypothetical ranking procedure; thus, the auction results and nonhypothetical...
Tipo: Conference Paper or Presentation Palavras-chave: Willingness-to-pay; Pomegranate; Experimental auction; Ranking; Health; Novel product; Food Consumption/Nutrition/Food Safety; Marketing; D12; Q13.
Ano: 2011 URL: http://purl.umn.edu/103682
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