Effects of Label Information on Consumer Willingness‐to‐Pay for Food Attributes

Choice experiments (CEs) are often used to elicit consumer willingness‐to‐pay (WTP) for food attributes. A concern about these approaches is that food attributes provided to respondents are assumed independent of attributes not provided. We use surveys containing a series of CEs to investigate effects of adding beef steak attributes. WTP for important attributes in the CEs decrease when the number of attributes increases from three to four, while WTP increases when the number of attributes increases from four to five. Changes in WTP for attributes depend on their relationships with newly added attributes and the number of attributes presented.