Consumer Demand and Willingness to Pay for Healthy Food ...
Consumer Demand and Willingness to Pay for Healthy Food ...
Consumer Demand and Willingness to Pay for Healthy Food ...
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3. Theory<strong>Consumer</strong> Goods Characteristcs Approach• Derivation of dem<strong>and</strong> functions– Solving <strong>for</strong> optimal quantities of the characteristics byusing the implicit function theorem– <strong>Dem<strong>and</strong></strong> function <strong>for</strong> <strong>Healthy</strong> <strong>Food</strong> Diversity:HFD=Cdj =HFDdj( p ,Y,K)– <strong>Dem<strong>and</strong></strong> function <strong>for</strong> other nutritional characteristics( p ,Y,K)• Derivation of implicit pricespi⎛ m1 ⎜ ∂U=λ ⎜∑2 ∂C⎝ j = 1 j*∂C∂qij+∂U∂HFD*∂HFD∂qi⎞+ λ ⎟1⎟⎠24
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