Latent Classes coefficients (standard errors) and estimated mean willingness-to-pay (WTP) [95 per cent confidence interval] for aged-beef by Information levels (n = 1,275)
| . | High information level (n = 639) . | Low information level (n = 636) . | . | ||
|---|---|---|---|---|---|
| Variable . | Coefficient (SE) . | WTP (|${\$}$|/lb.) . | coefficient (SE) . | WTP (|${\$}$|/lb.) . | p-value Comparing difference in WTP between information levels . |
| Class 1 | |||||
| Price | –0.16***(0.01) | –0.19***(0.01) | |||
| Dry-aged | 0.03 (0.03) | 0.35 [–0.57, 1.14] | –0.01(0.03) | –0.06[–0.70, 0.54] | 0.20 |
| Wet-aged | 0.06* (0.03) | 0.82 [–0.10, 1.66] | 0.07**(0.03) | 0.77 [0.13, 1.41] | 0.45 |
| Prime | 0.61***(0.04) | 7.91 [6.62, 9.59] | 0.65***(0.04) | 7.01[6.00, 8.34] | 0.18 |
| Choice | 0.51***(0.04) | 6.55 [5.18, 8.41] | 0.50***(0.04) | 5.38 [4.41, 6.55] | 0.11 |
| Select | 0.38***(0.04) | 4.93 [3.78, 6.30] | 0.35***(0.04) | 3.80 [2.85, 4.89] | *0.08 |
| Opt out | –3.35***(0.14) | –21.5 [–24.50, –19.30] | –3.65***(0.13) | –19.66 [–21.60, –18.04] | 0.89 |
| Class 2 | |||||
| Price | –0.35***(0.03) | –0.40***(0.03) | |||
| Dry-aged | –0.52***(0.08) | –2.97 [–4.31, –1.89] | –0.88***(0.10) | –4.41[–5.62, –3.41] | **0.04 |
| Wet-aged | –0.43***(0.08) | –2.44 [–3.56, –1.48] | –0.60***(0.07) | –3.02[–3.94, –2.26] | 0.20 |
| Prime | 0.54***(0.10) | 3.10 [1.87, 4.43] | 0.60***(0.09) | 3.03[2.16, 4.04] | 0.45 |
| Choice | 0.48***(0.09) | 2.72 [1.63, 3.81] | 0.50***(0.09) | 2.51[1.61, 3.50] | 0.37 |
| Select | 0.19* (0.10) | 1.06 [–0.14, 2.16] | 0.32*** (0.09) | 1.60 [0.67, 2.58] | 0.76 |
| Opt out | –1.14*** (0.29) | –3.27 [–4.39, –1.83] | –1.50*** (0.27) | –3.76 [–4.67, –2.64] | 0.27 |
| Estimates LCM probabilities | |||||
| Prob class 1 | 0.6710*** (0.03) | 0.6708*** (0.02) | |||
| Prob class 2 | 0.3290*** (0.03) | 0.3292*** (0.02) | |||
| . | High information level (n = 639) . | Low information level (n = 636) . | . | ||
|---|---|---|---|---|---|
| Variable . | Coefficient (SE) . | WTP (|${\$}$|/lb.) . | coefficient (SE) . | WTP (|${\$}$|/lb.) . | p-value Comparing difference in WTP between information levels . |
| Class 1 | |||||
| Price | –0.16***(0.01) | –0.19***(0.01) | |||
| Dry-aged | 0.03 (0.03) | 0.35 [–0.57, 1.14] | –0.01(0.03) | –0.06[–0.70, 0.54] | 0.20 |
| Wet-aged | 0.06* (0.03) | 0.82 [–0.10, 1.66] | 0.07**(0.03) | 0.77 [0.13, 1.41] | 0.45 |
| Prime | 0.61***(0.04) | 7.91 [6.62, 9.59] | 0.65***(0.04) | 7.01[6.00, 8.34] | 0.18 |
| Choice | 0.51***(0.04) | 6.55 [5.18, 8.41] | 0.50***(0.04) | 5.38 [4.41, 6.55] | 0.11 |
| Select | 0.38***(0.04) | 4.93 [3.78, 6.30] | 0.35***(0.04) | 3.80 [2.85, 4.89] | *0.08 |
| Opt out | –3.35***(0.14) | –21.5 [–24.50, –19.30] | –3.65***(0.13) | –19.66 [–21.60, –18.04] | 0.89 |
| Class 2 | |||||
| Price | –0.35***(0.03) | –0.40***(0.03) | |||
| Dry-aged | –0.52***(0.08) | –2.97 [–4.31, –1.89] | –0.88***(0.10) | –4.41[–5.62, –3.41] | **0.04 |
| Wet-aged | –0.43***(0.08) | –2.44 [–3.56, –1.48] | –0.60***(0.07) | –3.02[–3.94, –2.26] | 0.20 |
| Prime | 0.54***(0.10) | 3.10 [1.87, 4.43] | 0.60***(0.09) | 3.03[2.16, 4.04] | 0.45 |
| Choice | 0.48***(0.09) | 2.72 [1.63, 3.81] | 0.50***(0.09) | 2.51[1.61, 3.50] | 0.37 |
| Select | 0.19* (0.10) | 1.06 [–0.14, 2.16] | 0.32*** (0.09) | 1.60 [0.67, 2.58] | 0.76 |
| Opt out | –1.14*** (0.29) | –3.27 [–4.39, –1.83] | –1.50*** (0.27) | –3.76 [–4.67, –2.64] | 0.27 |
| Estimates LCM probabilities | |||||
| Prob class 1 | 0.6710*** (0.03) | 0.6708*** (0.02) | |||
| Prob class 2 | 0.3290*** (0.03) | 0.3292*** (0.02) | |||
***,**,* Indicates significance at the p < 1%, p < 5% and p < 10% level respectively.
Latent Classes coefficients (standard errors) and estimated mean willingness-to-pay (WTP) [95 per cent confidence interval] for aged-beef by Information levels (n = 1,275)
| . | High information level (n = 639) . | Low information level (n = 636) . | . | ||
|---|---|---|---|---|---|
| Variable . | Coefficient (SE) . | WTP (|${\$}$|/lb.) . | coefficient (SE) . | WTP (|${\$}$|/lb.) . | p-value Comparing difference in WTP between information levels . |
| Class 1 | |||||
| Price | –0.16***(0.01) | –0.19***(0.01) | |||
| Dry-aged | 0.03 (0.03) | 0.35 [–0.57, 1.14] | –0.01(0.03) | –0.06[–0.70, 0.54] | 0.20 |
| Wet-aged | 0.06* (0.03) | 0.82 [–0.10, 1.66] | 0.07**(0.03) | 0.77 [0.13, 1.41] | 0.45 |
| Prime | 0.61***(0.04) | 7.91 [6.62, 9.59] | 0.65***(0.04) | 7.01[6.00, 8.34] | 0.18 |
| Choice | 0.51***(0.04) | 6.55 [5.18, 8.41] | 0.50***(0.04) | 5.38 [4.41, 6.55] | 0.11 |
| Select | 0.38***(0.04) | 4.93 [3.78, 6.30] | 0.35***(0.04) | 3.80 [2.85, 4.89] | *0.08 |
| Opt out | –3.35***(0.14) | –21.5 [–24.50, –19.30] | –3.65***(0.13) | –19.66 [–21.60, –18.04] | 0.89 |
| Class 2 | |||||
| Price | –0.35***(0.03) | –0.40***(0.03) | |||
| Dry-aged | –0.52***(0.08) | –2.97 [–4.31, –1.89] | –0.88***(0.10) | –4.41[–5.62, –3.41] | **0.04 |
| Wet-aged | –0.43***(0.08) | –2.44 [–3.56, –1.48] | –0.60***(0.07) | –3.02[–3.94, –2.26] | 0.20 |
| Prime | 0.54***(0.10) | 3.10 [1.87, 4.43] | 0.60***(0.09) | 3.03[2.16, 4.04] | 0.45 |
| Choice | 0.48***(0.09) | 2.72 [1.63, 3.81] | 0.50***(0.09) | 2.51[1.61, 3.50] | 0.37 |
| Select | 0.19* (0.10) | 1.06 [–0.14, 2.16] | 0.32*** (0.09) | 1.60 [0.67, 2.58] | 0.76 |
| Opt out | –1.14*** (0.29) | –3.27 [–4.39, –1.83] | –1.50*** (0.27) | –3.76 [–4.67, –2.64] | 0.27 |
| Estimates LCM probabilities | |||||
| Prob class 1 | 0.6710*** (0.03) | 0.6708*** (0.02) | |||
| Prob class 2 | 0.3290*** (0.03) | 0.3292*** (0.02) | |||
| . | High information level (n = 639) . | Low information level (n = 636) . | . | ||
|---|---|---|---|---|---|
| Variable . | Coefficient (SE) . | WTP (|${\$}$|/lb.) . | coefficient (SE) . | WTP (|${\$}$|/lb.) . | p-value Comparing difference in WTP between information levels . |
| Class 1 | |||||
| Price | –0.16***(0.01) | –0.19***(0.01) | |||
| Dry-aged | 0.03 (0.03) | 0.35 [–0.57, 1.14] | –0.01(0.03) | –0.06[–0.70, 0.54] | 0.20 |
| Wet-aged | 0.06* (0.03) | 0.82 [–0.10, 1.66] | 0.07**(0.03) | 0.77 [0.13, 1.41] | 0.45 |
| Prime | 0.61***(0.04) | 7.91 [6.62, 9.59] | 0.65***(0.04) | 7.01[6.00, 8.34] | 0.18 |
| Choice | 0.51***(0.04) | 6.55 [5.18, 8.41] | 0.50***(0.04) | 5.38 [4.41, 6.55] | 0.11 |
| Select | 0.38***(0.04) | 4.93 [3.78, 6.30] | 0.35***(0.04) | 3.80 [2.85, 4.89] | *0.08 |
| Opt out | –3.35***(0.14) | –21.5 [–24.50, –19.30] | –3.65***(0.13) | –19.66 [–21.60, –18.04] | 0.89 |
| Class 2 | |||||
| Price | –0.35***(0.03) | –0.40***(0.03) | |||
| Dry-aged | –0.52***(0.08) | –2.97 [–4.31, –1.89] | –0.88***(0.10) | –4.41[–5.62, –3.41] | **0.04 |
| Wet-aged | –0.43***(0.08) | –2.44 [–3.56, –1.48] | –0.60***(0.07) | –3.02[–3.94, –2.26] | 0.20 |
| Prime | 0.54***(0.10) | 3.10 [1.87, 4.43] | 0.60***(0.09) | 3.03[2.16, 4.04] | 0.45 |
| Choice | 0.48***(0.09) | 2.72 [1.63, 3.81] | 0.50***(0.09) | 2.51[1.61, 3.50] | 0.37 |
| Select | 0.19* (0.10) | 1.06 [–0.14, 2.16] | 0.32*** (0.09) | 1.60 [0.67, 2.58] | 0.76 |
| Opt out | –1.14*** (0.29) | –3.27 [–4.39, –1.83] | –1.50*** (0.27) | –3.76 [–4.67, –2.64] | 0.27 |
| Estimates LCM probabilities | |||||
| Prob class 1 | 0.6710*** (0.03) | 0.6708*** (0.02) | |||
| Prob class 2 | 0.3290*** (0.03) | 0.3292*** (0.02) | |||
***,**,* Indicates significance at the p < 1%, p < 5% and p < 10% level respectively.
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