Sustainability · 2020 · 142 citations · 39 references
AgricultureAgricultural EconomicsFood ScienceAgricultural MarketingFood EconomicsPricing StrategyConsumer Food ChoiceFood Consumption EconomicsFood Demand AnalysisFood Marketing EconomicsFood PricesUtility Elicitation MethodsFood Consumption BehaviorFood Pricing StrategyOrganic Food ChoiceOrganic Food ConsumptionOrganic Food DemandOrganic Food EconomicsPremium Price WillingnessSustainable Food Consumption
During the last decades, organic food products have become the main sustainable alternative to conventional food consumption. Among the several organic food attributes that consumers recognize in organic food, healthiness has been reported as the primary motivation to buy products certified as organic. The objective of the current study is to assess the relative weight of the health attribute among other recognized organic food attributes. To achieve this aim, a multiple price list (MPL) methodology is adopted to elicit consumers’ Willingness to Pay (WTP) for organic extra virgin olive oil (EVOO). Findings show that the contribution of the health attribute to determine the average premium price for organic EVOO is 78.9% of its total premium price. The study generates managerial implications to promote further expansion of the organic food market.
39