Willingness to Pay for Sensory Attributes in Beer
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As microbrew beers have become more popular, the intrinsic characteristics of beer have become more important in consumer purchasing decisions. We identify sensory properties that influence consumers’ willingness to pay for beer using a contingent valuation model that includes subjective sensory evaluations and sociodemographic characteristics of consumers. We find that overall taste and hoppiness of a beer have a significant and positive impact on willingness to pay.