Degree Name
Master of Science
Graduate Program
Agribusiness Economics
Advisor
Sanders, Dwight R.
Abstract
There are many food products sold with labels on them that may be misleading to the consumer. Almost every one of these labels comes with a price premium that consumers must pay if they wish to purchase those specific items. Many consumers place a value on these specific food labels and determine that paying more for a product with these labels is worth it to them, despite many consumers not understanding the true meaning of the labels. This study looks at and compares what the price premiums are for different food products at different stores in both the Carbondale, Illinois area as well as in Naperville, Illinois. The results show that different labels result in different price premiums, as well as that on average consumers in Naperville, Illinois are willing to pay higher price premiums for the same labels than the consumers in the Carbondale, Illinois area.