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Experimental Evidence of Risk Aversion in Consumer Markets: The Case of Beef Tenderness
Alfnes, Frode; Rickertsen, Kyrre; Ueland, Oydis
2005
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Abstract

We use an experimental auction market to investigate how inconsistency in tenderness affects consumers' WTP for beef. We find that both the level and the spread of tenderness affect consumers' WTP. Categorization the beef into various classes of tenderness increased the total value of the beef by 8%.

Details

Title
Experimental Evidence of Risk Aversion in Consumer Markets: The Case of Beef Tenderness
Author(s)
Alfnes, Frode
Rickertsen, Kyrre
Ueland, Oydis
Subject(s)
Issue Date
2005
Publication Type
Conference Paper/ Presentation
DOI and Other Identifiers
10.22004/ag.econ.19285
Record Identifier
https://ageconsearch.umn.edu/record/19285
PURL Identifier
http://purl.umn.edu/19285
Language
English
Total Pages
29
Series Statement
Selected Paper 136321
Record Appears in
Agricultural and Applied Economics Association (AAEA) > Agricultural and Applied Economics Association (AAEA) Conferences > 2005 Annual meeting, July 24-27, Providence, RI

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