Using Choice Experiments to Estimate the Value of Differentiated Cow's Milk in Puerto Rico
2021
Héctor Tavárez | Carmen Álamo
In Puerto Rico, we use a choice experiment method through in-person interviews to estimate consumer willingness to pay (WTP) for a half gallon of cow's milk that is produced locally, friendly to the environment and with ethics in animal management. The results from a random parameters logit model show that consumers are willing to pay a premium of up to 41% for differentiated milk, indicating a potential market for these products. We also find that consumer's income and education, and number of dependents affect WTP estimates. Implications for the development of differentiated milk products are discussed.
显示更多 [+] 显示较少 [-]