ICES Experimental Economics Brown Bag Lecture
Starving for Information? An Experiment in Willingness to Pay for Nutritional Attributes
Monday, April 24, 2023 12:00 PM to 1:00 PM EDT
Vernon Smith Hall (formerly Metropolitan Building), Room 5075
The Interdisciplinary Center for Economic Science (ICES) presents an ICES Brown Bag Lecture featuring:
George Mason University
Starving for Information? An Experiment in Willingness to Pay for Nutritional Attributes
Abstract
As the cost of rising obesity levels becomes of greater public policy concern, more attention has been given to policies that enforce menu labeling and health warnings. Thus, it is important to uncover the efficacy of such interventions that intend to nudge consumer behavior towards healthier eating. This paper investigates if increased salience of information for nutritional characteristics garners a higher willingness to pay for healthier options using a discrete choice experiment to elicit consumer preferences. While other research has focused on generic or “fad” nutritional claims, this study focuses on how advertisement and labeling information of actual nutritional attributes impacts consumer choice, and how consumer risk preferences affect their willingness to pay for nutritional attributes, based on the “framing” of the label presented. This study serves to provide evidence-based solutions for the rising obesity epidemic impacting both developed and developing countries and serves to form policy conclusions regarding food and nutrition.
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