THE CHARACTERISTICS AFFECTING CONSUMERS' PERCEPTIONS AND PREFERENCES FOR UNITED STATES VERSUS IMPORTED BEEF

In 2002, consumers from Chicago and Denver participated in an experimental auction and taste panel to elicit willingness to pay for beef originating from the United States, Australia and Canada. Approximately 69% of the consumers were willing to pay a premium of 19% more for a "Guaranteed U.S" steak than for an unlabeled steak. When comparing consumers' taste preferences for beef originating from various countries of origin, it appears that a segment of the population prefers the taste and is willing to pay a premium for beef originating from Australia. A larger segment of the experimental population, 34% of the consumers, preferred the taste and was willing to pay a premium for the Canadian steak. However, on average, consumers were willing to pay premiums of approximately 31% and 10% more for the U.S. steak than for the Australian and Canadian steaks, respectively