Innovation in traditional foods: A laboratory experiment on consumers' acceptance of extra-virgin olive oil extracted through ultrasounds

The use of ultrasounds for the extraction of extra-virgin olive oil is an emerging technology capable of improving both the efficiency of the process and the quality of the final product. However, this technology has not been introduced yet on the market mostly because of the uncertainty about consumers' acceptance. This study aimed to investigate consumers' preferences towards extra-virgin olive oil obtained through ultrasound-assisted extraction. For this purpose, a laboratory experiment was performed by combining sensory evaluation and experimental auction to elicit consumers' willingness-to-pay under different information scenarios. The results of the study suggested that extra-virgin olive oil extracted through ultrasounds may be, generally, accepted by consumers. Whilst, no empirical evidences emerged to support the hypothesis that consumers are also willing to pay a premium price for such innovative product.