News | Prof. Ren Yanjun's Team Awarded High-Quality A Achievement in the Eighth Postgraduate Innovation Exhibition of Shaanxi Province

Recently, Prof. Ren Yanjun's team declared "Does risk preference matter to
consumers' willingness to pay for
functional food: Evidence from lab
experiments using the eye-tracking
technology
The results were recognized as the high-quality of the 8th Postgraduate Innovation Achievement Exhibition in Shaanxi Province.Category AResults.

Project Team Members: Zhen Shihang, Huang Luchen, Cao Yihan, Chen Xuan, Liu Qi

Instructor: Prof. Ren Yanjun, ,Prof. Xia Xianli

‍‍‍‍‍Results Summary: As nutritional health issues are becoming more prominent globally, functional foods are thought to address this challenge by realizing nutritional health benefits. However, whether consumers are willing to pay for functional foods, the impact of risk preference characteristics on their willingness to pay, and the exploration of physiological mechanisms behind consumption decisions are unclear. This study used a discrete choice experiment to investigate the effect of risk preferences on consumers' preferences and willingness to pay for functional foods, focusing on four attributes: dairy product origin, organic labeling, functionality, and price. In addition, the study further explored the physiological mechanisms behind through eye-tracking technology. The results show that consumers' preferences and willingness to pay for dairy products differ across attributes. Consumers with high risk preference had higher preference and willingness to pay for functional foods. Eye-tracking experiments showed that visual attention to attributes was positively correlated with consumption preference, and high-risk preference consumers paid more attention to the functional attributes of dairy products and were more inclined to purchase functional dairy products.

It is reported thatAccording to the relevant requirements for the exhibition of the eighth postgraduate innovation achievements of Shaanxi Province, the Department of Education of Shaanxi Province and the Provincial Degree Committee organized and held the eighth postgraduate innovation achievements exhibition. After the declaration of schools, formal review, expert deliberation, and consideration by the Office Council, 57 items of high-quality achievements of A grade, 108 items of B grade, and 195 items of C grade were drawn up.