Assessing consumer's preference for local rice in Brunei: an application of choice model
2010
Galawat, F. | Yabe, M., Kyushu Univ., 6-10-1, Hakozaki, Higashi-ku, Fukuoka City 812-8581 (Japan). Dept. of Agriculture and Resource Economics
Consumer analysis was undertaken on preference for rice consumption in Brunei with the aim to study which attributes of rice consumers are valued. The specific methodological approach employed was Choice Model Technique which is used to evaluate non-market good by eliciting people's stated preference for different options in a hypothetical setting. It is capable of eliciting respondent preferences for new products and outcomes that do not currently exist in the market place. The economic valuation in this study also involves consumer willingness to pay, which is defined as the maximum value of money that an individual contributed to equalize utility. Our analysis shows how it can yield invaluable information regarding consumer demand that can uniquely assists Brunei policy makers, particularly the government and farmers, in developing new domestic rice production, pricing and marketing strategies.
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