Heterogeneous consumers and differentiated food markets: Implications for quality signaling in food supply chains

The Fellow's address begins by noting several recent consumer food trends and the changing way in which we perceive value‐added. I then focus on the topic of heterogeneity in consumer behavior, reviewing contributions from the literature that enhance our ability as economists to model and measure heterogeneity. Supply chain responses to consumer heterogeneity are examined, including a discussion of information flows within supply chains and the role of certification and verification. I close with a consideration of policy implications flowing from consumer heterogeneity.