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Willingness-To-Pay For Information: Experimental Evidence On Product Traceability From The U.S.A., Canada, The U.K., And Japan, David L. Dickenson, Deevon Bailey
Willingness-To-Pay For Information: Experimental Evidence On Product Traceability From The U.S.A., Canada, The U.K., And Japan, David L. Dickenson, Deevon Bailey
Economic Research Institute Study Papers
Traceable product systems provide a tool to track the inputs of a final good throughout the entire production chain. This tool can provide valuable information to consumers on verifiable characteristics of the product, can improve the speed of product recall, and can help identify areas of inefficiency in the product chain. Recent examples of traceable systems include those used in the diamond, lumber, and food industries. This article reports results from a case study on traceability using Vickrey auctions to generate willingness-to-pay (WTP) data for traceability and related product characteristics. Specifically, we examine WTP for traceable meat, which is a …