Exploring Consumer Valuation and Preference Heterogeneity for Functional Foods Using a Choice Experiment: A Case Study of Tomato Juice Containing Soy in Ohio
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A discrete choice experiment is applied to examine consumer valuation of a new generation of functional foods. Data were collected from 1,704 households in Ohio through a mail survey. Results indicate health benefits and ingredient naturalness are positively valued but such preferences depend on individual's education, income, and food purchase behavior.