CONSUMERS' WILLINGNESS TO PAY FOR THE COLOR OF SALMON:A CHOICE EXPERIMENT WITH REAL ECONOMIC INCENTIVES

Abstract

We designed an experimental market with posted prices to investigate consumers' willingness to pay for the color of salmon. Salmon fillets varying in color and price were displayed in 20 choice scenarios. In each scenario, the participants chose which of two salmon fillets they wanted to buy. To induce real economic incentives, each participant drew one unique binding scenario; the participants then had to buy the salmon fillet they had chosen in their binding scenario.Consumer/Household Economics,