Consumer willingness to pay for locally grown products: the case of South Carolina
TLDR
A contingent valuation framework is used to evaluate South Carolina consumers' willingness to pay for the "locally grown" characteristic in produce and animal products and identify the sociodemographic characteristics affecting consumer preferences for this characteristic.Abstract:
A contingent valuation framework is used to evaluate South Carolina consumers' willingness to pay for the “locally grown” characteristic (defined here as South Carolina grown) in produce and animal products and to identify the sociodemographic characteristics affecting consumer preferences for this characteristic. Findings show that South Carolina consumers are willing to pay an average premium of 27% for local produce and 23% for local animal products. Premiums for local products are influenced by age, gender, and income as well as by perceived product quality, a desire to support the local economy, patronage of farmers markets, and consumer ties to agriculture. [JEL Categories: D12, Q13]. © 2009 Wiley Periodicals, Inc.read more
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References
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Decomposing Local: A Conjoint Analysis of Locally Produced Foods
TL;DR: This article used stated preference data from a choice-based conjoint instrument to address two issues surrounding consumer demand for locally produced goods: (1) what is the geographical extent of local, and (2) is the value consumers place on local production distinct from other factors that are often confounded with locally produced foods such as farm size and product freshness.
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Effects of Cheap Talk on Consumer Willingness-to-Pay for Golden Rice
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