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A Study on Consumers’ Preference and Willingness to Pay for Traceable Information Attributes of Seafood Based on an Empirical Analysis of Selection Experiments

April 25, 2019
Chen Yusheng, Xue Xiaolei, Fengxin and Chen Ning

(College of Management, Ocean University of China, Qingdao Shandong)

 

Abstract Traceability system is an important tool for the alleviation of information asymmetry in the food market. This paper, by using the Multi - National Logit model and RPL model and based on the method of selection experiment, discusses consumers' preference and willingness to pay for traceable information attributes of seafood products. The results show that consumers’ highest preference is the diversified credit supervision attribute with the government and the third party credit supervision agencies as the main body, and their highest willingness to pay is also found with this arrangement. The lowest preference is found to be price attribute, while, on the other hand, the willingness to pay for the brand attribute is found to be the lowest. The conclusion drawn thereby is that efforts should therefore be made to strengthen the construction of traceable information credit supervision system, encourage the third party credit regulatory agencies with due qualifications in their participation in the credit regulatory business, facilitate the brand building of traceable seafood, and heighten the consumers' awareness of the quality and safety of seafood, so as to ensure the quality of traceable seafood and its safe consumption.

 

Key words: seafood, traceable information, properties, preference, selection experiment