Preferences and willingness to pay for a novel carbon label: A choice experiment in the United States

Abstract

AbstractThis study investigates how US consumers respond to and value a new technology‐based carbon label on food products. Results indicate that individual valuation of the carbon‐labeled bread is $4/20 oz, marginally lower than the valuation of the conventional and organic bread products. Moreover, individuals belonging to certain market segments, such as non‐White, liberal, and well‐educated consumers, and those having a high level of knowledge about the causes of climate change, exhibit a higher valuation for the novel carbon label.