A Taste for Safer Beef? How Much Does Consumers’ Perceived Risk Influence Willingness to Pay for Country-of-Origin Labeled Beef
Article first published online: 19 DEC 2013
© 2013 Wiley Periodicals, Inc.
Special Issue: Emerging Issues in Global Animal Product Trade
Volume 30, Issue 1, pages 17–30, Winter 2014
How to Cite
Lim, K. H., Hu, W., Maynard, L. J. and Goddard, E. (2014), A Taste for Safer Beef? How Much Does Consumers’ Perceived Risk Influence Willingness to Pay for Country-of-Origin Labeled Beef. Agribusiness, 30: 17–30. doi: 10.1002/agr.21365
- Issue published online: 10 JAN 2014
- Article first published online: 19 DEC 2013
- Korea University and by Consumer
- Market Demand Policy Research Networks
Past studies have shown that country of origin labeling (COOL) affects consumers’ demand for food products. However, besides the rationale of ethnocentrism or the desire to support domestic farmers, the underlying motivation for such behavior is not well understood. This study assesses consumers’ preferences for imported and domestic beef through a choice experiment. We found that willingness to pay for country-of-origin labeled imported beefsteak is associated with (a) consumers’ perceptions of the categorical risk from consuming beef, (b) consumers’ risk aversion to risks from beef consumption, and (c) consumers’ perceptions of the food-safety level of imported beef. Results from this study suggest that the advantage of domestic beef over imported beef can be partly explained by consumers’ risk handling behavior. [EconLit citations: Q130].