RELATIVE AND ABSOLUTE RISK FORMAT IN ELICITING WILLINGNESS-TO-PAY FOR BEEF IRRADIATION

Abstract

The relationship between the valuation of reduced risk through irradiation and framing of risk information was determined using absolute and relative risk formats. A double-bounded CV survey was used to measure willingness-to-pay (WTP) for irradiated beef among 740 U.S. households. Results show that the WTP was sensitive to the risk formats.beef irradiation, relative risk format, absolute risk format, willingness-to-pay, double-bounded CV questions, Consumer/Household Economics,