In models with unobserved taste heterogeneity, distributional assumptions can be placed in two ways: (1) by specifying the distribution of coefficients in the utility function and deriving the distribution of willingness to pay (wtp), or (2) by specifying the distribution of wtp and deriving the...

A random utility approach is used to estimate logit equations which indicate what factors affect the likelihood of consumption of non-GM and GM foods, and, whether or not consumers are willing to pay a premium for non-GM/GM foods. Ceteris paribus as the price difference between non-GM and GM...

Data from a discrete choice experiment is used to investigate the implications offailing to account for attribute processing strategies (APSs). The research was designed to elicit the economic benefits associated with landscape restoration activities that were intended to remediate environmental...

The knowledge of the overall willingness-to-pay and the specific price premiums consumers accept when buying foods with less fat, saturated fat, sodium, sugar and more fiber shapes food manufacturer and distributor marketing strategies and supports the development of public health strategies....

Although mixed logit models are common in stated preference applications, resulting welfare estimates can be sensitive to minor changes in specification. This can be of critical relevance for policy and welfare analysis, particularly if policymakers are unaware of practical implications. Drawing...

Rankings of different risk management portfolios including Average Crop Revenue Election (ACRE), traditional government payment programs, crop insurance and hedging in futures; and optimal choices of insurance coverage levels and hedge ratios are evaluated for a representative central Indiana...

A unique discrete choice experiment (DCE) is used to estimate the relative importance ofquality attributes to Australian beef consumers. In the DCE, consumers choose theirpreferred beef steaks from options varying in a large number of intrinsic (marbling and fattrim) and extrinsic/credence...

Stated preference analyses commonly impose strong and unrealistic assumptions in response to spatial welfare heterogeneity. These include spatial homogeneity or continuous distance decay. Despite their ubiquity in the valuation literature, global assumptions such as these have been increasingly...

Coffee consumption in China is increasing rapidly over the recent years. This study offers one of the few initial attempts to not only understand general consumption behavior associated with Chinese coffee, but to explore the viability of niche markets for coffee with the credence attribute...