ARE at AAEA: Ashley Spalding: Willingness to Pay for Local, Value-Added Goods
July 31, 2018
Time: 10–11:30 a.m. Monday, Aug. 6
Location: Park Tower Room 8219 - Session #1007, titled "Willingness to Pay for Attributes of U.S. Foods"
Despite growing participation in and support for local food markets by consumers, farmers, and government policies, value-based food economies are not well understood. We utilize weekly sales data from a natural foods retailer in combination with a unique collected dictionary of all labeled product attributes to estimate implicit price premiums and demand for local, value-added food products in two product categories. Controlling for a large number of labels and product claims, a hedonic price model indicates that there is a small positive premium for preserves and some baked goods with a local place of origin specified on its packaging.
*This is information about one of the 17 people from ARE with a presentation at the 2018 AAEA Annual Meeting Aug. 5–7 in Washington, D.C.
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