Behavior of agents at food market, especially asymmetric information on the Dairy Market

This study deals with the problem of analysis of the attitudes toward food that influence the behavior and decision-making of consumer when buying food from particular processors. Also Czech consumers do not easy discover the origin of milk in dairy product that milk is from nearby farmers. This is because this credence information is not regularly available on food labels. The information about food processor may explain that the origin of milk was from nearby farmers. This could be misinterpreting because most of processors repackaging the cheese in the Czech Republic. In 2010 - 2011, about 900 students of Universities in the Czech Republic participated in the questionnaire. Study results, which were obtained by Logit Regression Models, thus indicate that intension of buying from a particular processor is positively associated with the place of origin of milk, safety, as well as with information about how food is produced. The changes in attitude influence consumer intension in decision making process. Therefore, the results of the paper confirm the existence of "familiarity bias" in the Czech dairy market. As we have seen, asymmetric information in this study means that students are not well informed about the origin of foodstuffs.