Pérez Torres, Paulymar H.

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Disposición a pagar de los consumidores por leche de calidad superior en Puerto Rico: resultados del método de valoración contingente
(2020-07-24) Pérez Torres, Paulymar H.; Tavárez Vargas, Héctor S.; College of Agricultural Sciences; Álamo González, Carmen; Ortiz Colón, Guillermo; Department of Agricultural Economics and Rural Sociology; Pérez Pinedo, Yakaira
The dairy industry is the most important sector in Puerto Rico's agricultural economy but has been affected by changes in consumer preferences. One strategy to address this issue is to offer consumers unique products with characteristics or attributes that they want and are willing to pay. Product differentiation is a strategy used to develop products with the attributes that the consumer is looking for and that may increase profits by selling in market segments with higher prices. The main objectives of this study were to estimate consumers' willingness to pay (WTP) for high-quality fresh milk and to identify the factors that affect WTP. To estimate the WTP, the contingent valuation method was used with the simple dichotomous selection format using surveys. The results of Logit regression models suggest that consumers are willing to pay $1.88 for half-gallon (64 oz) of high-quality fresh milk, in addition to current price.In addition, it was found that the income and perception of characteristics about differentiated products affect WTP