Consumers' Willingness to Pay a Price for Organic Beef Meat

The goal of this paper is to estimate the maximum price consumers are willing to pay (MPWTP) for organic beef meat. To this purpose, a theoretical and econometric approach is presented, based on the RUM model and on a Contingent Valuation technique. The results show that consumers' MPWTP is quite high, thus suggesting that organic beef meat might gain an appreciable market share. This is also an encouraging signal for prospective producers of organic meat, who might compensate the likely increase in production costs with a substantial premium for the new good.


Issue Date:
2002
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/24923
Total Pages:
18
Series Statement:
Contributed Paper




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

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