Quotation Balogh, Péter and Bekesi, Daniel and Gorton, Matthew and Popp, József and Lengyel, Péter. 2016. Consumer willingness to pay for traditional food products. Food Policy 61, 176-184.


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Abstract

Reflecting the growing interest from both consumers and policymakers, and building on recent developments in Willingness to Pay (WTP) methodologies, we evaluate consumer preferences for an archetypal traditional food product. Specifically we draw on stated preference data from a discrete choice experiment, considering the traditional Hungarian mangalitza salami. A WTP space specification of the generalized multinomial logit model is employed, which accounts for not only heterogeneity in preferences but also differences in the scale of the idiosyncratic error term. Results indicate that traditional food products can command a substantial premium, albeit contingent on effective quality certification, authentic product composition and effective choice of retail outlet. Promising consumer segments and policy implications are identified.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Food Policy
Citation Index SSCI
WU-Journal-Rating new VW-D, WH-B
Language English
Title Consumer willingness to pay for traditional food products
Volume 61
Year 2016
Page from 176
Page to 184
Reviewed? Y
URL http://www.sciencedirect.com/science/article/pii/S0306919216300161
DOI http://dx.doi.org/10.1016/j.foodpol.2016.03.005

Associations

People
Bekesi, Daniel (Details)
External
Balogh, Péter ( Faculty of Economics and Business, University of Debrecen, Hungary)
Gorton, Matthew (Marketing, Operations and Systems Subject Group, Newcastle University Business School, United Kingdom)
Lengyel, Péter (Faculty of Economics and Business, University of Debrecen, Hungary)
Popp, József (Faculty of Economics and Business, University of Debrecen, Hungary)
Organization
Institute for Economic Policy and Industrial Economics IN (Details)
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