WTA-WTP disparity for vegan food products
There has been an enormous amount of research on the disparity between the willingness-to-accept (WTA) and the willingness-to-pay (WTP), however if you look at the changing world in terms of sustainability and vegan foods the body of literature is still lacking. Therefore, the main point of research was to investigate whether the WTA and WTP differ for some chosen vegan foods. With the use of data from a survey with 124 valid responses, mostly under students, an answer to this was given with the use of OLS regressions. The research also looked at the role of independent variables often used in WTA-WTP research in the case of vegan foods. These variables are loss aversion, valuation uncertainty, familiarity, opinion about vegan foods, gender, age and income. The analysis points out that for vegan foods on average the WTA is significantly higher than the WTP. In terms of other results, lower valuation uncertainty turned out to increase the gap which opposes some available literature. For gender, males showed a higher gap than women also opposing some research. Most other variables showed insignificant results. With the expected growth of vegan foods, this research can function as a starting point for future research.
Faculteit der Managementwetenschappen