Abstract This paper investigates the competitiveness of small and medium-scale maize milling enterprises in South Africa from estimates of a translog stochastic cost frontier model. Results suggest that small and medium-scale maize mills in South Africa are cost-inefficient, operating at 59...

The difference between hypothetical and real values when evaluating consumers’ preferences (termed ‘hypothetical bias’) has received significant attention in scientific literature, as the outcome of this bias is often an overestimation of willingness to pay (WTP) values. This is the main...