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Economic Valuation of Food E-labels for Restaurant Offerings*

Asian Journal of Business Environment / Asian Journal of Business Environment, (P)2765-6934; (E)2765-7027
2024, v.14 no.3, pp.13-21
https://doi.org/10.13106/ajbe.2024.vol14.no3.13
Jinwook JEONG (Pusan National University)
Tongjoo SUH (Pusan National University)
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Abstract

Purpose: This study explores the potential use of food e-labels for restaurants to solve the current inadequacies in food labeling within the restaurant sector. Additionally, the study examines the feasibility and scalability of implementing e-labels for food labeling purposes, investigates consumers’ perceptions of e-labels for restaurant offerings, and assesses the value of implementing e-labels. Research design, data and methodology: The value of food e-labels was estimated using the contingent valuation method. Samples were selected from the survey, considering the distribution of population, using stratified sampling method. In the survey, respondents were provided with information explaining the food e-label and were asked whether they would accept the proposed amount for food e-labeling. Results: Estimation resultsrevealed that the individual demographic factors of the respondentssignificantly influenced their willingness to pay (WTP), along with their food purchasing behavior and the degree of food labeling checking. Based on the estimated results, WTP was calculated to be 2,624 KRW. Conclusions: The study findings can serve as a reference for related businesses and policies, suggesting the need for further research and detailed discussions. To activate food e-labeling, promotion and education are essential complements to mere regulatory implementation

keywords
Food e-label, Restaurant offerings, Economic valuation, Korea
Submission Date
2024-03-27
Revised Date
2024-04-10
Accepted Date
2024-07-05

Asian Journal of Business Environment