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The Strategy of Voluntary Certification in Italian Olive Oil Industry: Who and Why?

The phenomenon of asymmetric information is central in the agri-food sector, in which often there is not full information transparency about product quality. This condition is particularly complex considering the high-end products. In order to reduce this information gap, a company can choose voluntarily to participate in certification programs that can be viewed also as a simplification of some organization issues. The research aims to understand the characteristics of firms oriented to use voluntary certifications as a tool to reduce information asymmetries between producers and final consumers. In particular, we want to consider two contexts of analysis: a structural one, considering some specific internal aspects and investment choices of the firms; a second one that takes into account some decisions related to market relationships. The study concerns small and medium olive oil company of Southern Italy. The results show significant values in both the two dimensions considered. Among the first one, there are significances in immaterial company investments but also in physical assets related to the olive oil process. There are several scientific developments relevant to the olive oil process and some of these patents have been reviewed in this paper. In the second part of analysis there are significances in some distribution channels as well as in the export activity. This work aims to contribute to the debate about the addressing of quality policy for a reduction of asymmetric information in the high-end products.