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Volume 18, Number 02, December 1993 >
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|Title: ||QUANTIFYING THE EFFECTS OF NEW PRODUCT DEVELOPMENT: THE CASE OF LOW-FAT GROUND BEEF|
|Authors: ||Brester, Gary W.|
Goodwin, Barry K.
Hunt, Melvin C.
|Issue Date: ||1993-12|
|Abstract: ||Low-fat ground beef (LFGB) is a new product designed to be as palatable as beef products that contain significantly higher levels of fat. A hedonic model shows that each unitary increase in the leanness of ground beef products carries a price premium of $.0206/lb. If LFGB garners a 10% share of the ground beef market, the retail price of all ground beef products will increase by $.01/lb. and consumption will increase by 39.75 million lbs. The price of commercial cows will increase by $.56/cwt. Price quantity, and welfare measures are magnified as the market share captured by LFGB increases.|
|Institution/Association: ||Journal of Agricultural and Resource Economics>Volume 18, Number 02, December 1993|
|Total Pages: ||12|
|From Page: ||239|
|To Page: ||250|
|Collections:||Volume 18, Number 02, December 1993|
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