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The Economics of Chocolate$
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Mara P. Squicciarini and Johan Swinnen

Print publication date: 2016

Print ISBN-13: 9780198726449

Published to Oxford Scholarship Online: March 2016

DOI: 10.1093/acprof:oso/9780198726449.001.0001

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Consumers’ Willingness to Pay for Fair Trade Chocolate

Consumers’ Willingness to Pay for Fair Trade Chocolate

(p.180) 10 Consumers’ Willingness to Pay for Fair Trade Chocolate
The Economics of Chocolate

Pieter Vlaeminck

Jana Vandoren

Liesbet Vranken

Oxford University Press

Most studies on socially responsible products show that the majority of consumers are willing to pay a price premium for products that live up to certain ethical standards. In reality, however, actual market shares still represent a small fraction of the total market. A key question is why this demand has remained low. Do consumers not care about these ethical characteristics or are other factors in play? After summarizing the literature on the willingness to pay (WTP) for Fair Trade (FT) products, particularly chocolate, we provide insights from a survey and a choice experiment (CE) that were conducted in Belgium on how to expand the FT market in the future.

Keywords:   attitude behaviour gap, chocolate, Fair Trade, label effectiveness, willingness to pay, choice experiment, Belgium

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