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http://dx.doi.org/10.5762/KAIS.2015.16.7.4489

Consumer's Demand and Willingness to Pay for Horse Meat  

Jeon, Seong-Won (Korea Racing Authority)
Choi, Seung-Churl (Food Science & Biotechnology of Animal Resources, Kon-Kuk University)
Shin, Yong-Kwang (Dept. of general Education, Korea national college of Agriculture and Fisheries)
Publication Information
Journal of the Korea Academia-Industrial cooperation Society / v.16, no.7, 2015 , pp. 4489-4497 More about this Journal
Abstract
This study aims at estimating the consumer's demand and willingness to pay(WTP) for horse meat in Korea. Three econometric models are employed to examine the multiple layers of the demand, including the current demand, the potential demand and latent demand. Findings indicate a substantial demand for horse meat. Dichotomous choice contingent valuation method is used to elicit the WTP. We assess the mean WTP for horse meat using a double-bounded logistic model. As a result, consumers are willing to pay at 67.8 percent of the beef prices of the third quality grade to purchase horse meat. And, for the factors that influence on WTP, only sex, age and recognition of horse meat are statistically significant.
Keywords
Dichotomous choice contingent valuation method(DC-CVM); Horse meat; demand; willingness to pay(WTP);
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Times Cited By KSCI : 1  (Citation Analysis)
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