Valuing Attributes of Fluid Milk Using Choice-Based Conjoint Experimental Design
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A choice-based conjoint (CBC) experiment was employed to analyze Chinese consumers' preferences for fluid milk defined by four choice attributes: production processing method, fat content level, taste, and price. The results from two analysis approaches (counting and multinomial logit models) indicated that Chinese consumers are willing to pay a premium for pasteurized, low fat content, and natural tasting milk, but that they require a discount for choosing ultra high temperature (UHT), high fat content, and flavored milk. In addition, this study estimated the trade-offs among attributes' levels and simulated the effects of income on the probabilities of choosing attribute-specified milk.