The Effect of Information Choice and Discussion on Consumers' Willingness-to-Pay for Nanotechnologies in Food
AbstractWe evaluate the impact of different information sequences on participantsâ€™ hypothetical willingness to pay (WTP) for food produced using nanotechnology. In three treatment groups, information on the health, societal, or environmental impact linked to nanotechnology was revealed in different sequences: an imposed order, a chosen order, and a chosen order after a discussion among participants. Results show that information choice is important. While in the imposed order, the first information revealed has no effect on WTP, the information chosen first has a strong impact. Discussion has no further impact. Health information was a priority and significantly decreased WTP, while societal and environmental information did not significantly influence WTP.
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Bibliographic InfoArticle provided by Western Agricultural Economics Association in its journal Journal of Agricultural and Resource Economics.
Volume (Year): 36 (2011)
Issue (Month): 2 (August)
discussion; experimental economics; food nanotechnology; information choice; willingness to pay; Demand and Price Analysis;
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