Experimental Evidence of Risk Aversion in Consumer Markets: The Case of Beef Tenderness



Table 3. Preferences toward Risk

Hypothetical Trials

_______Real Trials

H1

H2

R1

R2

R3

R4

Mean

Mean risk premium

7.75

8.04

7.00

6.44

4.96

3.59

5.50

Standard deviation

10.64

7.45

7.50

7.84

9.75

10.19

6.96

Wilcoxon test p valuea

0.00

0.00

0.00

0.00

0.00

0.01

0.00

Mean risk ratio

0.89

0.89

0.91

0.91

0.93

0.96

0.93

Standard deviation

0.15

0.12

0.10

0.11

0.14

0.15

0.10

# Risk averse

38

43

43

39

35

32

38

# Risk neutral

1

3

2

3

4

1

0

# Risk seeking

12

5

6

9

12

18

13

a Wilcoxon signed rank test. H0: Mean risk premium equal zero.

Not graded

Quality V

Very tender


Tender


Less tender


Graded

Quality A

Quality B

Quality C

Very tender

Tender

Less tender

Figure 1. Tenderness Grading

11



More intriguing information

1. Developments and Development Directions of Electronic Trade Platforms in US and European Agri-Food Markets: Impact on Sector Organization
2. Testing Gribat´s Law Across Regions. Evidence from Spain.
3. Change in firm population and spatial variations: The case of Turkey
4. Forecasting Financial Crises and Contagion in Asia using Dynamic Factor Analysis
5. The name is absent
6. Fiscal federalism and Fiscal Autonomy: Lessons for the UK from other Industrialised Countries
7. The name is absent
8. Does South Africa Have the Potential and Capacity to Grow at 7 Per Cent?: A Labour Market Perspective
9. Detecting Multiple Breaks in Financial Market Volatility Dynamics
10. Regulation of the Electricity Industry in Bolivia: Its Impact on Access to the Poor, Prices and Quality