@article{Kim:330624,
      recid = {330624},
      author = {Kim, Sungyong},
      title = {An Analysis of Consumers' Preferences for Quality-Graded  Beef Products},
      journal = {Journal of Rural Development/Nongchon-Gyeongje},
      address = {2014-09-21},
      number = {1071-2023-335},
      month = {Sep},
      year = {2014},
      abstract = {This paper analyzes consumer preferences for  quality-graded beef products within a vertical product  differentiation framework. Based on a theoretical  discussion of consumers demand for vertically  differentiated products, we suggest an ordered probit model  with sample selection as an empirical demand function for  quality-graded beef products. We employ cross-sectional  data sets obtained from the 2013 Consumers Survey on Food  Consumption Behavior conducted by the Korea Rural Economic  Institute and examine factors affecting consumers choice of  the grade on purchasing beef products. The empirical  results show that i) about half of sample consumers refer  to various label information other than grade in order to  choose beef products which match their preference, ii)  those consumers who are younger and have higher income  level are more likely to choose higher graded beef  products, and iii) the on-going beef grading systems have  not thoroughly solved out the asymmetry problem of quality  information between producers and consumers because their  evaluation schemes do not appropriately reflect consumers'  preference for quality attributes of beef products.},
      url = {http://ageconsearch.umn.edu/record/330624},
      doi = {https://doi.org/10.22004/ag.econ.330624},
}