Time preferences and food choices : Evidence from a choice experiment

Time preferences have been recognized by numerous studies as an important driver of a number of healthy and environmentally-friendly behaviors. In this study, we first examined if healthy and environmentally-friendly food labels (e.g., USDA organic, carbon trust, health claim, and calories) are relevant in driving food choices. Second, using the Consideration of Future Consequences (CFC) scale we analyzed if individuals with different time preferences have different choice behavior and valuations in relation to these labels. Results indicate that consumers value both healthy and environmentally-friendly attributes displayed on labels. Results also suggest that time preferences can significantly influence consumers' valuation for the USDA organic label, the presence of health claims and the calorie amount attribute.