Work

Consumers' Willingness to Pay for the Color of Salmon: A Choice Experiment with Real Economic Incentives

Year: 2006

Type: article

Abstract: In most retail markets, sellers post the price and consumers choose which products to buy. We designed an experimental market with posted prices to investigate consumers' willingness to pay for the color of salmon. Salmon fillets varying in color and price were displayed in twenty choice scenarios. In each scenario, the participants chose which of two salmon fillets they wanted to buy. To induce real economic incentives, each participant drew one binding scenario; the participants then had to buy the salmon fillet they had chosen in their binding scenario. The choice data were analyzed with a mixed logit model.

Source: American Journal of Agricultural Economics

DOI: 10.1111/j.1467-8276.2006.00915.x

Authors: Frode Alfnes, Atle G. Guttormsen, Gro Steine, Kari Kolstad

Institution: Norwegian University of Life Sciences

Language: English

Topic: Economic and Environmental Valuation

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W2136691649

FWCI: 24.83

Cites: 26

Cited by: 424

Related to: 10