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The objective of this study is to identify product characteristics that affect retail prices of fresheggs. The study develops a hedonic price model to estimate implicit prices of product attributesof Korean fresh eggs. Then, the estimated shadow prices of attributes are used to identify apreference ranking of different levels of the same attribute and the relative importance of theattributes. The study uses store-level scanner data which include prices, sales quantities, andproduct attributes for all egg transactions for an entire one-year period. Unlike many earlierhedonic price models, the model developed in this study considers the potential effect of quantitysold in estimating implicit prices of attributes. Results suggest that sales quantity is one ofimportant variables in hedonic price models, and therefore omitting the quantity variable couldlead to a biased result, particularly when prices and sales vary widely across observations.Results also indicate that Korean consumers put a significantly high value on fertile, organic,free-range-feeding, and larger sized eggs, plus smaller package sizes. The findings could helpboth producers and retailers formulate better production and marketing strategies by focusing onthese attributes.

Keywords: hedonic price ; store scanner data ; Korean egg market ; attribute ; marketing

Subject(s): Consumer/Household Economics

Food Consumption/Nutrition/Food Safety

Livestock Production/Industries

Issue Date: 2011-11

Publication Type: Journal Article

PURL Identifier: http://purl.umn.edu/139428 Published in: Journal of Food Distribution Research, Volume 42, Number 3 Page range: 14-27

Total Pages: 14

Record appears in: Food Distribution Research Society > Journal of Food Distribution Research

Autor: Kim, Changhee ; Chung, Chanjin

Fuente: http://ageconsearch.umn.edu/record/139428?ln=en

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