Consumers' valuation for a novel food waste reducing technology: The case of natural coating

Abstract

AbstractThis study analyzes consumers' valuation for a natural coating that extends the shelf life of produce. Specifically, we examine the effect of providing information about the natural coating's ability to reduce food waste on consumers' willingness to pay (WTP) using bananas and tomatoes as products of interest. We found higher WTP among participants provided with the information. Our study underscores the importance of cognitive and noncognitive factors in understanding the implications of food‐waste related interventions. We also used Query Theory to explore participants' thought processes. The results indicate that those provided with the information generated more value‐increasing thoughts than those not provided with the information.