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Does it pay to be good?
By Susan Thomas, Assistant Director, Electronic Communications, Boston College Center
Consumers say they like the idea of purchasing ethically produced goods. But will they pay more for them? And if so, how much more?
These are the questions posed by Remi Trudel and June Cotte, who summarize their research in the Winter 2009 issue of MIT’s Sloan Management Review. They conducted a series of experiments that they say proved three things:
- Yes, customers will pay a premium for ethically produced goods.
- Conversely, they will punish companies (by demanding a lower price) that are not seen as ethical.
- The punishment exacted is greater than the premium customers are willing to pay.
- Companies needn’t be 100% ethical to be rewarded.
Read the full story at http://sloanreview.mit.edu/the-magazine/articles/2009/winter/50213/does-it-pay-to-be-good/.
February 5th, 2009 at 4:15 PM
Why is the assumption that ethically produced goods cost more ?
Has it been proven ?
What if they cost less or the same ?