RELATIVE AND ABSOLUTE RISK FORMAT IN ELICITING WILLINGNESS-TO-PAY FOR BEEF IRRADIATION

Rimal, Arbindra; Fletcher, Stanley M.; McWatters, Kay H.

doi:10.22004/ag.econ.21825

RELATIVE AND ABSOLUTE RISK FORMAT IN ELICITING WILLINGNESS-TO-PAY FOR BEEF IRRADIATION

Rimal, Arbindra ; Fletcher, Stanley M. ; McWatters, Kay H.

The relationship between the valuation of reduced risk through irradiation and framing of risk information was determined using absolute and relative risk formats. A double-bounded CV survey was used to measure willingness-to-pay (WTP) for irradiated beef among 740 U.S. households. Results show that the WTP was sensitive to the risk formats.

Keywords:

beef irradiation ; relative risk format ; absolute risk format ; willingness-to-pay ; double-bounded CV questions

Subject(s):

Consumer/Household Economics

Issue Date:

2000

Publication Type:

Conference Paper/ Presentation

DOI and Other Identifiers:

10.22004/ag.econ.21825

Record Identifier:

https://ageconsearch.umn.edu/record/21825