Qin Ming, Li Yue and Wang Zhigang
(School of Agricultural Economics and Rural Development, Renmin University of China)
Abstract: With the development of social economy, the life that consumers pursuit is developing from subsistence to nutritional health. Based on Contingent Value Method, this paper estimates how much consumers in urban and rural would like to pay for safe oil and analyzes the influencing factors of WTP. The results show that urban consumers would like to pay 18.57% higher than the price of ordinary oil, while the rural consumers pay 15.32% higher than. Whats more, urban and rural residents willingness to pay is mainly influenced by household characteristics, information awareness and bid values. In addition, individual characteristics of rural residents affect the payment. In particular, the effect of age of urban and rural residents is just opposite on the payment. Finally, it puts forward accordingly policy suggestions.
Key Words: Urban and Rural Residents; Safe oil; Nutrition Label; Willingness to Pay