Implicit Value of Retail Beef Product Attributes
By: Ward, Clement E.; Lusk, Jayson L.; Dutton, Jennifer M.
Ward, Clement E.; Lusk, Jayson L.; Dutton, Jennifer M., Implicit Value of Retail Beef Product Attributes, Journal of Agricultural and Resource Economics, Volume 33, Issue 3, December 2008, Pages 364-381
To identify the value consumers place on observable characteristics of fresh beef products, primary data were collected on over 1,350 packages of beef from 66 randomly selected grocery stores located in three metropolitan areas--Oklahoma City and Tulsa, Oklahoma, and Denver, Colorado. Estimated linear and log-linear hedonic models reveal ground beef prices were significantly influenced by store location (i.e., metropolitan area) and store type, fat content, package size and type, expiration date, brand category, and special labels. Factors influencing steak prices included store location, product type, quality grade, package size and type, brand category, and special labels.