A recent study examining the reasons why consumers pay higher prices for certain foods — be it for fashion, social standing or to advance a healthier lifestyle — revealed food costs may be too high for some consumers.
Dr. Marco Palma, Dr. David Anderson and Meghan Ness, all with the department of agricultural economics at Texas A&M University in College Station, conducted field experiments to see why consumers pay more for certain foods with perceived premium labeling. The study was published recently in the Applied Economics journal.
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