• Title/Summary/Keyword: Mutinomial Logit

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An Analysis on Consumers' Preference of Agricultural Products Cultivated from Plants Factory System (식물공장 농산물에 대한 소비자 선호속성 탐색)

  • Kim, Yean-Jung;Kim, Bae-Sung
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.13 no.11
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    • pp.5052-5059
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    • 2012
  • This study was carried out to find consumers' attributes and willingness to pay(WTP) of agricultural products cultivated from plants factory system. The agricultural products were sorted into lettuce, strawberry, Ligularia fischeri(wild edible greens), and ginseng. We made the questionaires to survey consumers' purchasing attributes and preference of agricultural products. Finally, 200 valid replies were selected to analyze consumers' attributes and to estimate marginal willingness to pay. We used conjoint analysis and multinomial logit model for empirical analysis. MWTPs of commodities are estimated as follows; Lettuce is 1,016KW(100g), Strawberry is 6,014KW(2kg), Ligularia fischeri is 3,652KW(100g), and Ginseng is 5,905KW(100g). Several attributes of consumers' purchasing behavior were identified from this study. We suggested several implications to formulate more appropriate policy of plants factory system.