Buying your way into a healthier lifestyle: a latent class analysis of healthy food purchases
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2015 Taylor & Francis. A nonhypothetical second-price Vickrey auction was conducted to elicit consumer preferences and willingness-to-pay (WTP) for vegetable attributes, including production technique, origin, taste and health benefits. Using a latent class analysis (LCA) we segmented participants based on health-driven motivations, WTP estimates and socio-economic characteristics. Two latent classes were found and characterized as: Health Conscious and Health Redeemers. In particular, the Health Conscious consumers presented healthy lifestyle habits, expressed price premiums for domestic and local-specialty food products after a blind tasting treatment, but they did not have price premiums for health benefits of the products. On the contrary, the Health Redeemers presented unhealthy lifestyles but they were willing to pay more for healthy food products, perhaps in an attempt to make up for their unhealthy habits.