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Journal of Agricultural and Resource Economics >
Volume 18, Number 02, December 1993 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/30958
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| Title: | QUANTIFYING THE EFFECTS OF NEW PRODUCT DEVELOPMENT: THE CASE OF LOW-FAT GROUND BEEF |
| Authors: | Brester, Gary W.
Lhermite, Pascale
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. |
| URI: | http://purl.umn.edu/30958 |
| Institution/Association: | Journal of Agricultural and Resource Economics>Volume 18, Number 02, December 1993 |
| Total Pages: | 12 |
| Language: | English |
| From Page: | 239 |
| To Page: | 250 |
| Collections: | Volume 18, Number 02, December 1993
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