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In-Store Valuation of Steak Tenderness

Author

Listed:
  • Jayson L. Lusk
  • John A. Fox
  • Ted C. Schroeder
  • James Mintert
  • Mohammad Koohmaraie
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. Copyright 2001, Oxford University Press.

Suggested Citation

  • Jayson L. Lusk & John A. Fox & Ted C. Schroeder & James Mintert & Mohammad Koohmaraie, 2001. "In-Store Valuation of Steak Tenderness," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(3), pages 539-550.
    • Handle: RePEc:oup:ajagec:v:83:y:2001:i:3:p:539-550
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    File URL: http://hdl.handle.net/10.1111/0002-9092.00176
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    References listed on IDEAS

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