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1st Conference on Economics and Politics of Chocolate September , 16-18, 2012 – Leuven , Belgium. An experimental approach of chocolate preferences. Emilie GINON LESSAC, ESC Dijon Bourgogne, France Youenn LOHEAC ESC Bretagne Brest, France

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slide1

1st Conference on Economics and Politics of Chocolate

September, 16-18, 2012 – Leuven, Belgium

An experimentalapproach of chocolatepreferences

Emilie GINON

LESSAC, ESC Dijon Bourgogne, France

Youenn LOHEAC

ESC Bretagne Brest, France

CREM, CNRS & Université Rennes 1, France

slide2

CONTEXT

We are interesting by

BEHAVIORAL ECONOMICS

EXPERIMENTAL ECONOMICS

SENSORY STUDIES

& CHOCOLATE

slide3

PLAN

  • Introduction
  • A smallpiece
    • Design
    • Results
  • The full tablet/bar
    • Elements
    • Design
    • Results
  • Conclusions
slide4

Introduction (1)

ABOUT CHOCOLATE

Interestingproductfor exploringconsumers’ behaviors:

--- Important variety of characteristics (origin, organic, fair-trade, ingredients, cocoa %, etc.)

--- Specificproductwithsomeinfleunces and interactions withhumanphysiology and behaviors

Someexperiments (not exhaustive): Tagbata & Sirieix (2008), Mahé (2009), Teyssier et al. (2012), Kimura et al. (2012), Torres-Moreno et al. (2012), Savastano (2012)…

slide5

Introduction (2)

ABOUT EXPERIMENTAL ECONOMICS

--- generatingbehaviors in a controlledenvironment (lab)

--- to test theories or to explore behaviors

--- includesreal incentivesystems (generallywith real money)

slide6

1. A smallpiece --- Design (1)

HOW DO WE DECIDE WITH

&

???

slide7

1. A smallpiece --- Design (2)

RISK AVERSION

--- MPL from Holt & Laury (2002)

--- 10 situations with increasing likelihood of lower gain and choice between safe and risky lotteries.

--- real incentive with money and chocolate

DICTATOR GAME

--- sharing of a given amount (1.5€ / 10 miniatures)

--- real incentive with money and chocolate

48 PARTICIPANTS

slide8

1. A smallpiece--- Results (1)

RISK AVERSION

--- after excluding for non-consistency

--- score on 10

slide9

1. A smallpiece--- Results (2)

RISK AVERSION

--- Women (definitively) more risk averse

--- Men: more risk lovers with money

slide10

1. A smallpiece--- Results (3)

DICTATOR GAME

--- sharing express in %

slide11

2. The full tablet/bar --- Questions

How consumersreactbetweenblindtasting and full information tasting ?

Is theredifferencebetweenelicitationmethodologies ?

Correlationsbetweenbuying intention, willingness-to-pay and:

--- hedonic score

--- sensorydescriptors

--- individualcharacteristics

--- individual opinion

slide14

2. The full tablet/bar --- Design (3)

THE FOUR PRODUCTS

1.185 €

1.86 €

1.38 €

1.08 €

Prices in retail store (feb. 2012)

slide15

2. The full tablet/bar --- Design (4)

INCENTIVE SYSTEM

--- to avoid hypothetical bias

--- subjects could really buy the products

--- In accordance with the elicitation methods, in a precise random condition, subjects who give a WTP higher than an offered price really buy the product at this offered price

slide16

2. The full tablet/bar --- Design (5)

ELICITATION METHODOLOGIES

BDM mechanism (Becker et al., 1963)

- for a randomly drawn product

- in a randomly drawn phase (A/D)

- if subject willing to buy the product

- he/she randomly drawn a selling price in a uniform price distribution (market prices)

- WTP < selling price  no exchange.

- WTP ≥ selling price  subject buys the chocolate tablet at the drawn selling price.

Random nth price (RNP) auction (Shogren et al., 2001)

- for a randomly drawn product

- in a randomly drawn phase (A/D)

- a number n is randomly drawn between 2 and N (number of participants).

- after ordering all the WTP, n is the price at which the (n-1) higher WTP buy the product at this price.

Details: Lusk & Shogren (2007), Lohéac & Issanchou (2007)

slide17

2. The full tablet/bar --- Subjects

Students (master degree) from Dijon Business School

--- N = 53

--- 48 observations used due to absence in one part

slide18

2. The full tablet/bar --- Results (1)

WTP ELICITATION

--- 384 buying opportunities  145 real purchases

--- average WTP = 2.00 €

WTP (€)

BUYING INTENTION (%)

slide19

2. The full tablet/bar --- Results (2)

SENSORY ANALYSIS

--- Hedonic score

slide20

2. The full tablet/bar --- Results (3)

SENSORY ANALYSIS

--- Intensity

slide21

2. The full tablet/bar --- Results (4)

SENSORY ANALYSIS

--- MCO on hedonic scores (BLIND)

slide22

2. The full tablet/bar --- Results (5)

Link between hedonic score and buying intention

-- correlation between WTP and hedonic score: 55%

-- but low correlation between WTP and descriptors

slide23

2. The full tablet/bar --- Results (6)

Due to treatment/session effect split analysis by treatment

WTP (€)

BUYING INTENTION (%)

slide24

2. The full tablet/bar --- Results (7)

Probit on buying intention by treatment

slide26

CONCLUSION … (1)

In “a small piece”

- Women are more risk averse

-- Men are more risk lovers with money (chocolate averse?)

--- Lower sharing with chocolate

In “the full tablet/bar”

- Methodological effect … but a session effect

-- Sugar, bitter & aroma have a weight in hedonic score

--- strong link between hedonic score and buying intention… but not with WTP

---- some other significant effects

slide27

CONCLUSION… (2)

BUT

- A toosmallsample (N = 48)

-- Only one session by treatment

--- The name of chocolate are written on it

SOLUTIONS

- Reconduct the experiment € € € €

-- To scrape the chocolatepieces …

slide28

1st Conference on Economics and Politics of Chocolate

September, 16-18, 2012 – Leuven, Belgium

Thankyouverymuch

(if you have any question or request)

Emilie GINON

emilie.ginon@escdijon.eu

Youenn LOHEAC

yloheac@esc-bretagne-brest.com