CONSUMER VALUATION OF BEEF RIBEYE STEAK ATTRIBUTES

A choice experiment (conjoint analysis) was used to investigate consumer demand for several beef ribeye steak attributes. Respondents indicated that they would prefer a "“hormone free"” ribeye steak priced up to $6.68/lb. more than a “"non-hormone" free” ribeye steak. Tenderness was also identified as an important attribute in the consumer purchasing decision as a one-unit increase in the tenderness of a steak (on a scale of one to 10) was associated with a $1.13/lb. premium. Steak marbling and whether the animal was fed genetically modified corn were of less importance to consumers.


Issue Date:
2000
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/21793
Total Pages:
29
Series Statement:
Selected Paper




 Record created 2017-04-01, last modified 2017-04-26

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