This study incorporates reference point effects into a stated choice survey of consumer demand for food with credence attributes. Parametric tests can be applied to the utility function to examine the existence of reference price effects. Results are consistent with prospect theory in that...

In this study we found that Japanese consumers value the conventional health claim “low in saturated fat†more than the relatively newer claims, such as “high in oleic acid.†In addition, consumers do not prefer oil with genetically modified ingredients or oil that is not...