An analysis of the impacts of tasting experience and peer effects on consumers’ willingness to pay for novel foods

Research output: Contribution to journalJournal articlepeer-review

Standard

An analysis of the impacts of tasting experience and peer effects on consumers’ willingness to pay for novel foods. / Alemu, Mohammed Hussen; Olsen, Søren Bøye.

In: Agribusiness, Vol. 36, No. 4, 2020, p. 653-674.

Research output: Contribution to journalJournal articlepeer-review

Harvard

Alemu, MH & Olsen, SB 2020, 'An analysis of the impacts of tasting experience and peer effects on consumers’ willingness to pay for novel foods', Agribusiness, vol. 36, no. 4, pp. 653-674. https://doi.org/10.1002/agr.21644

APA

Alemu, M. H., & Olsen, S. B. (2020). An analysis of the impacts of tasting experience and peer effects on consumers’ willingness to pay for novel foods. Agribusiness, 36(4), 653-674. https://doi.org/10.1002/agr.21644

Vancouver

Alemu MH, Olsen SB. An analysis of the impacts of tasting experience and peer effects on consumers’ willingness to pay for novel foods. Agribusiness. 2020;36(4):653-674. https://doi.org/10.1002/agr.21644

Author

Alemu, Mohammed Hussen ; Olsen, Søren Bøye. / An analysis of the impacts of tasting experience and peer effects on consumers’ willingness to pay for novel foods. In: Agribusiness. 2020 ; Vol. 36, No. 4. pp. 653-674.

Bibtex

@article{0c37e059823749b484e3d86b821367ae,
title = "An analysis of the impacts of tasting experience and peer effects on consumers{\textquoteright} willingness to pay for novel foods",
abstract = "This paper investigates the impacts of tasting experience and observing peers{\textquoteright} taste preferences on consumers' willingness to pay (WTP) for novel insect-based food products. In an empirical incentivized discrete choice experiment (DCE) developed to estimate Kenyan consumers' WTP for buns made with cricket flour, we test two treatments against a control treatment using a between-subject design. The control treatment is a typical DCE questionnaire survey. Treatment 1 is identical to the control except that respondents are asked to taste the buns before answering the questionnaire. In Treatment 2, respondents are also given the tasting experience but they additionally observe their peers' taste preferences for the buns. The results suggest that tasting experience is important since Treatment 1 obtains significantly higher WTP estimates than the control. However, allowing additionally for peer effects in Treatment 2 significantly reduces the WTP estimates again countering the effect of tasting in Treatment 1. According to the results, this is partly related to the observation of peers reacting negatively in terms of disliking the bun products. [EconLit Citations: D12, D90, Q13].",
keywords = "incentivized discrete choice experiment, insects, peer effects, taste, willingness to pay",
author = "Alemu, {Mohammed Hussen} and Olsen, {S{\o}ren B{\o}ye}",
year = "2020",
doi = "10.1002/agr.21644",
language = "English",
volume = "36",
pages = "653--674",
journal = "Agribusiness",
issn = "0742-4477",
publisher = "Wiley",
number = "4",

}

RIS

TY - JOUR

T1 - An analysis of the impacts of tasting experience and peer effects on consumers’ willingness to pay for novel foods

AU - Alemu, Mohammed Hussen

AU - Olsen, Søren Bøye

PY - 2020

Y1 - 2020

N2 - This paper investigates the impacts of tasting experience and observing peers’ taste preferences on consumers' willingness to pay (WTP) for novel insect-based food products. In an empirical incentivized discrete choice experiment (DCE) developed to estimate Kenyan consumers' WTP for buns made with cricket flour, we test two treatments against a control treatment using a between-subject design. The control treatment is a typical DCE questionnaire survey. Treatment 1 is identical to the control except that respondents are asked to taste the buns before answering the questionnaire. In Treatment 2, respondents are also given the tasting experience but they additionally observe their peers' taste preferences for the buns. The results suggest that tasting experience is important since Treatment 1 obtains significantly higher WTP estimates than the control. However, allowing additionally for peer effects in Treatment 2 significantly reduces the WTP estimates again countering the effect of tasting in Treatment 1. According to the results, this is partly related to the observation of peers reacting negatively in terms of disliking the bun products. [EconLit Citations: D12, D90, Q13].

AB - This paper investigates the impacts of tasting experience and observing peers’ taste preferences on consumers' willingness to pay (WTP) for novel insect-based food products. In an empirical incentivized discrete choice experiment (DCE) developed to estimate Kenyan consumers' WTP for buns made with cricket flour, we test two treatments against a control treatment using a between-subject design. The control treatment is a typical DCE questionnaire survey. Treatment 1 is identical to the control except that respondents are asked to taste the buns before answering the questionnaire. In Treatment 2, respondents are also given the tasting experience but they additionally observe their peers' taste preferences for the buns. The results suggest that tasting experience is important since Treatment 1 obtains significantly higher WTP estimates than the control. However, allowing additionally for peer effects in Treatment 2 significantly reduces the WTP estimates again countering the effect of tasting in Treatment 1. According to the results, this is partly related to the observation of peers reacting negatively in terms of disliking the bun products. [EconLit Citations: D12, D90, Q13].

KW - incentivized discrete choice experiment

KW - insects

KW - peer effects

KW - taste

KW - willingness to pay

U2 - 10.1002/agr.21644

DO - 10.1002/agr.21644

M3 - Journal article

AN - SCOPUS:85082064904

VL - 36

SP - 653

EP - 674

JO - Agribusiness

JF - Agribusiness

SN - 0742-4477

IS - 4

ER -

ID: 238674465