Summary
This article is behind a paywall. It has been included in the database and summarized below solely based on the content of the abstract.
The catalyst for this research, published in 2016, was the near record-breaking prices of American beef and pork in 2014. Using choice experiment data from over 12,000 consumers during this period of high meat prices, the authors found that chicken breast price influenced demand for ground beef, steak, and pork chops. As prices rose, the price of separate categories of meat products had less influence on the demand of each other. Consumer income also influenced purchasing behavior. Higher income consumers were more responsive to changes in relative price change between products rather than price changes of single products. These consumers were also more likely to choose steak and chicken breasts compared to lower income consumers.
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