Determinants of Decision to Pay a Price Premium for Modified Food in Korea
Article first published online: 15 FEB 2013
© 2013 Wiley Periodicals, Inc.
Volume 29, Issue 2, pages 172–193, Spring 2013
How to Cite
Kaya, O., Florkowski, W. J., Yen, S. T. and Suh, D.-K. (2013), Determinants of Decision to Pay a Price Premium for Modified Food in Korea. Agribusiness, 29: 172–193. doi: 10.1002/agr.21329
- Issue published online: 21 MAR 2013
- Article first published online: 15 FEB 2013
The knowledge of whether or not consumers are willing to pay a price premiums and the amount of the willingness to pay (WTP) when buying foods with more fiber, vitamins, protein, fat, and less saturated fat shapes food manufacturer and distributor marketing strategies and supports the development of public health programs. In this study we analyze survey data collected in Korea to identify consumer profiles associated with both the binary decision and the level of WTP for foods with nutritionally desired attributes. Results indicate the importance of socio-economic variables, location, variables representing the risk of health problems, implicit lifestyle differences and attributes related to food preparation. [EconLit Classification: Q130, Q180].