Estimating Willingness to Pay for New Mandarin Cultivars: A Revealed Preference Approach
Xiang Bi, Lisa House, Zhifeng Gao, and Frederick Gmitter
To determine consumer willingness to pay for specific attributes, UF/IFAS economists combined sensory evaluation and experimental auctions in a unique way, by comparing two different types of ‘Sugar Belle’ (SB1 and SB2) with the main competing product to identify the most desirable characteristics and to determine the best marketing and pricing strategy.