Are all meats substitutes? A basket‐and‐expenditure‐based approach

Abstract

This study examines the relationship among animal‐based meat and plant‐based meat alternatives (PBMAs) using a basket‐and‐expenditure‐based choice experiment. In particular, we examine whether animal‐based meat products are substitutes or complements with PBMAs. Further, we incorporate consumer beliefs about their diet and environmental attitudes into the analysis. What we find is that PBMAs are not substitutes but rather complements or independent from one another. We also find that environmental and diet beliefs positively contribute to consumer utility for plant‐based alternatives. This study also demonstrates the strength of a basket‐based approach to examining complex consumer choices that require both discrete and continuous decisions in food purchasing.