Hispanic Consumersâ Preferences and Willingness-to-Pay for Grass-Fed Beef in Virginia
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A bivariate Probit model was estimated to determine Hispanic consumersâ visual and taste preferences for grass-fed beef and to explore the relationship between their expected and experienced quality of grass-fed beef. A two-step decision process examined Hispanic consumersâ WTP and investigated the factors influencing their valuations on grass-fed beef. Approximately 50% of Hispanic consumers sampled preferred grass-fed to conventional grain-fed beef steak and the vast majority of grass-fed preferring consumers were willing to pay a price premium for it. Hispanic consumers were able to distinguish the appearance and taste between grass-fed and conventional grain-fed beef steaks. A positive correlation between visual and taste preferences for grass-fed beef was captured.
- Doctoral Dissertations