Effects of Attribute Importance on the Willingness to Pay for Animal Welfare Certified Eggs
2023
Chang, J.B. | Lee, Y.G.
This research examines the impact of attributes importance perception on consumer willingness to pay for animal welfare certified eggs. Specifically, we assess consumer perception of egg attributes by utilizing the best-worst scaling approach. Based on previous literature related to egg consumption and preferences, a list of eight egg attributes was complied. We then identify whether consumer perception of attribute importance affects willingness to pay (WTP) premiums for animal welfare certified eggs. Using data from a nationwide survey about animal welfare, we find that about 25 percent of respondents are willing to pay zero premium for animal welfare certified eggs. Overall, estimates from a interval censored regression models suggest consumers would be willing to pay range from 1,193KRW to 2,712KRW per 10 eggs more for animal welfare certified eggs on average depending on the econometric models. The WTP premiums for animal welfare certified are substantively influenced by consumer perception of attributes importance and by demographic characteristics.
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