In-store valuation of steak tenderness

Jayson L. Lusk, John A. Fox, Ted C. Schroeder, James Mintert, Mohammad Koohmaraie

Research output: Contribution to journalArticlepeer-review

Abstract

Experimental methods were used to examine consumer willingness-to-pay for steak tenderness in a grocery store setting. When relying on a taste test alone to determine product quality, the participants paid an average premium of $1.23/lb for a tender versus tough steak. Fifty-one percent of the participants were willing to pay an average of $1.84/lb when they had completed a taste test and were also provided information about the steak's tenderness. Results indicate that most consumers prefer more tender steaks and that many are willing to pay a premium for tender steaks.

Original languageEnglish (US)
Pages (from-to)539-550
Number of pages12
JournalAmerican Journal of Agricultural Economics
Volume83
Issue number3
DOIs
StatePublished - 2001
Externally publishedYes

Keywords

  • Beef
  • Consumer demand
  • Experimental economics
  • Field experiment
  • Tenderness
  • Willingness to pay

ASJC Scopus subject areas

  • Agricultural and Biological Sciences (miscellaneous)
  • Economics and Econometrics

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