Endowments, expectations, and the value of food safety certification: experimental evidence from fish markets in Nigeria
We study the impact of endowments and expectations on reference point formation and measure the value of food safety certification in the context of fish trading on real markets in Nigeria. In our field experiment, consumers can trade a known food item for a novel food item that is superior in terms...
| Autores principales: | , , , |
|---|---|
| Formato: | Journal Article |
| Lenguaje: | Inglés |
| Publicado: |
Cambridge University Press
2023
|
| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/132583 |
| _version_ | 1855521708726812672 |
|---|---|
| author | Shikuku, Kelvin Mashisia Bulte, Erwin Lagerkvist, Carl Johan Nhuong Tran |
| author_browse | Bulte, Erwin Lagerkvist, Carl Johan Nhuong Tran Shikuku, Kelvin Mashisia |
| author_facet | Shikuku, Kelvin Mashisia Bulte, Erwin Lagerkvist, Carl Johan Nhuong Tran |
| author_sort | Shikuku, Kelvin Mashisia |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | We study the impact of endowments and expectations on reference point formation and measure the value of food safety certification in the context of fish trading on real markets in Nigeria. In our field experiment, consumers can trade a known food item for a novel food item that is superior in terms of food safety––or vice versa. Endowments matter for reference point formation, but we also document a reverse endowment effect for a subsample of respondents. The effect of expectations about future ownership is weak and mixed. While expectations seem to affect bidding behavior for subjects “trading up” to obtain the certified food product (a marginally significant effect), it does not affect bids for subjects “trading down” to give up this novel food item. Finally, willingness to pay for safety certified food is large for our respondents—our estimate of the premium is bounded between 37 and 53% of the price of conventional, uncertified food. |
| format | Journal Article |
| id | CGSpace132583 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2023 |
| publishDateRange | 2023 |
| publishDateSort | 2023 |
| publisher | Cambridge University Press |
| publisherStr | Cambridge University Press |
| record_format | dspace |
| spelling | CGSpace1325832025-10-26T12:51:33Z Endowments, expectations, and the value of food safety certification: experimental evidence from fish markets in Nigeria Shikuku, Kelvin Mashisia Bulte, Erwin Lagerkvist, Carl Johan Nhuong Tran certification consumers economics finance fish food safety markets nigeria ownership trade We study the impact of endowments and expectations on reference point formation and measure the value of food safety certification in the context of fish trading on real markets in Nigeria. In our field experiment, consumers can trade a known food item for a novel food item that is superior in terms of food safety––or vice versa. Endowments matter for reference point formation, but we also document a reverse endowment effect for a subsample of respondents. The effect of expectations about future ownership is weak and mixed. While expectations seem to affect bidding behavior for subjects “trading up” to obtain the certified food product (a marginally significant effect), it does not affect bids for subjects “trading down” to give up this novel food item. Finally, willingness to pay for safety certified food is large for our respondents—our estimate of the premium is bounded between 37 and 53% of the price of conventional, uncertified food. 2023-11 2023-10-31T12:27:34Z 2023-10-31T12:27:34Z Journal Article https://hdl.handle.net/10568/132583 en Open Access Cambridge University Press Shikuku, K.M., Bulte, E., Lagerkvist, C.J. and Nhuong Tran. 2023. Endowments, expectations, and the value of food safety certification: experimental evidence from fish markets in Nigeria. Experimental Economics |
| spellingShingle | certification consumers economics finance fish food safety markets nigeria ownership trade Shikuku, Kelvin Mashisia Bulte, Erwin Lagerkvist, Carl Johan Nhuong Tran Endowments, expectations, and the value of food safety certification: experimental evidence from fish markets in Nigeria |
| title | Endowments, expectations, and the value of food safety certification: experimental evidence from fish markets in Nigeria |
| title_full | Endowments, expectations, and the value of food safety certification: experimental evidence from fish markets in Nigeria |
| title_fullStr | Endowments, expectations, and the value of food safety certification: experimental evidence from fish markets in Nigeria |
| title_full_unstemmed | Endowments, expectations, and the value of food safety certification: experimental evidence from fish markets in Nigeria |
| title_short | Endowments, expectations, and the value of food safety certification: experimental evidence from fish markets in Nigeria |
| title_sort | endowments expectations and the value of food safety certification experimental evidence from fish markets in nigeria |
| topic | certification consumers economics finance fish food safety markets nigeria ownership trade |
| url | https://hdl.handle.net/10568/132583 |
| work_keys_str_mv | AT shikukukelvinmashisia endowmentsexpectationsandthevalueoffoodsafetycertificationexperimentalevidencefromfishmarketsinnigeria AT bulteerwin endowmentsexpectationsandthevalueoffoodsafetycertificationexperimentalevidencefromfishmarketsinnigeria AT lagerkvistcarljohan endowmentsexpectationsandthevalueoffoodsafetycertificationexperimentalevidencefromfishmarketsinnigeria AT nhuongtran endowmentsexpectationsandthevalueoffoodsafetycertificationexperimentalevidencefromfishmarketsinnigeria |