The Role of Health Information in Consumers’ Willingness to Pay for Canned Crushed Tomatoes Enriched with Lycopene

Abstract

The paper investigated whether information about the health benefit produced by lycopene could influence consumers’ willingness to pay (WTP) for canned crushed tomatoes enriched with lycopene. An additional aim was to determine whether the main socio-demographic variables, such as sex, age, income and selected attitudinal factors, affect WTP. To this end, a non-hypothetical experimental auction was carried on with five repeated rounds. Results show a relevant impact of information on WTP in the case of lycopene-enriched products, whereas no difference in bids emerges for the conventional product, either on average or at the quantiles. Previous knowledge seems to have a modest influence upon WTP, but it shows a significant interaction with the information shock provided during the experiment, so that the effect of the latter is more pronounced when previous knowledge is low. In addition, age, sex, food technology neophobia, trust in science and implicit attitudes towards food technology significantly affect participants’ WTP.