In-Store Valuation of Steak Tenderness |
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Authors: | Jayson L. Lusk,John A. Fox,Ted C. Schroeder,James Mintert,& Mohammad Koohmaraie |
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Affiliation: | Mississippi State University,;Kansas State University,;Meat Research Unit, USDA-ARS U.S. Meat Animal Research Center |
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Abstract: | Experimental methods were used to examine consumer willingness-to-pay for steak tenderness in a grocery store setting. When relying on a taste test alone to determine product quality, the participants paid an average premium of $1.23/lb for a tender versus tough steak. Fifty-one percent of the participants were willing to pay an average of $1.84/lb when they had completed a taste test and were also provided information about the steak's tenderness. Results indicate that most consumers prefer more tender steaks and that many are willing to pay a premium for tender steaks. |
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Keywords: | beef consumer demand experimental economics field experiment tenderness willingness to pay |
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