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Valuing Conflicting Public Information About a New Technology: The Case of Irradiated Foods

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Author Info

  • Rousu, Matthew C.
  • Shogren, Jason F.

Abstract

Scientists and advocates can disagree on the value of new products or technologies, such as growth hormones, genetically modified organisms, and food irradiation. Both sides of the debate disseminate information to the public hoping to influence public opinion. This study assesses the economic value of both pro and anti public information using food irradiation as a case study. The value of information sources is estimated in isolation and in combination. In isolation, the results indicate each set of information has value. In combination, only the anti-irradiation information is found to have net positive value (persuading some consumers to purchase non-irradiated products). Pro-irradiation information worked to decrease the value of anti-irradiation information by 68% per person.

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Bibliographic Info

Article provided by Western Agricultural Economics Association in its journal Journal of Agricultural and Resource Economics.

Volume (Year): 31 (2006)
Issue (Month): 03 (December)
Pages:

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Handle: RePEc:ags:jlaare:8623

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Web page: http://waeaonline.org/
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Related research

Keywords: experimental auctions; irradiation; value of information; Research and Development/Tech Change/Emerging Technologies;

References

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  1. Matthew C. Rousu & Wallace E. Huffman & Jason F. Shogren & Abebayehu Tegene, 2004. "Estimating the Public Value of Conflicting Information: The Case of Genetically Modified Foods," Land Economics, University of Wisconsin Press, vol. 80(1), pages 125-135.
  2. Fox, John A. & Hayes, Dermot J. & Shogren, Jason F. & Kliebenstein, James B., 1996. "Experimental Methods In Consumer Preference Studies," Journal of Food Distribution Research, Food Distribution Research Society, Food Distribution Research Society, vol. 27(2), July.
  3. Trudy Cameron, 2005. "Updating Subjective Risks in the Presence of Conflicting Information: An Application to Climate Change," Journal of Risk and Uncertainty, Springer, Springer, vol. 30(1), pages 63-97, January.
  4. Wallace E. Huffman & Matthew Rousu & Jason F. Shogren & Abebayehu Tegene, 2003. "The Public Good Value of Information from Agribusinesses on Genetically Modified Foods," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, Agricultural and Applied Economics Association, vol. 85(5), pages 1309-1315.
  5. Jay R. Corrigan & Matthew C. Rousu, 2006. "The Effect of Initial Endowments in Experimental Auctions," Working Papers, Kenyon College, Department of Economics 0601, Kenyon College, Department of Economics.
  6. Mario F. Teisl & Nancy E. Bockstael & Alan Levy, 2001. "Measuring the Welfare Effects of Nutrition Information," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, Agricultural and Applied Economics Association, vol. 83(1), pages 133-149.
  7. Lusk, Jayson L. & House, Lisa O. & Valli, Carlotta & Jaeger, Sara R. & Moore, Melissa & Morrow, Bert & Traill, W. Bruce, 2005. "Consumer welfare effects of introducing and labeling genetically modified food," Economics Letters, Elsevier, vol. 88(3), pages 382-388, September.
  8. Samuelson, William & Zeckhauser, Richard, 1988. " Status Quo Bias in Decision Making," Journal of Risk and Uncertainty, Springer, Springer, vol. 1(1), pages 7-59, March.
  9. Rousu, Matthew & Huffman, Wallace & Shogren, Jason F. & Tegene, Abebayehu, 2007. "Effects and Value of Verifiable Information in a Controversial Market: Evidence from Lab Auctions of Genetically Modified Food," Staff General Research Papers 12702, Iowa State University, Department of Economics.
  10. Foster, William & Just, Richard E., 1989. "Measuring welfare effects of product contamination with consumer uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 17(3), pages 266-283, November.
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Citations

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Cited by:
  1. Marette Stéphan & Roosen Jutta & Blanchemanche Sandrine, 2011. "The Combination of Lab and Field Experiments for Benefit-Cost Analysis," Journal of Benefit-Cost Analysis, De Gruyter, De Gruyter, vol. 2(3), pages 1-36, August.
  2. Rousu, Matthew C. & Nonnemaker, James & Farrelly, Matthew, 2009. "The Value of Countermarketing Information to Smokers: Evidence from Field Auctions," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin, Agricultural and Applied Economics Association 49219, Agricultural and Applied Economics Association.
  3. Matthew Rousu & Jay Corrigan, 2008. "Estimating the value consumers derive from product labeling," Framed Field Experiments 00192, The Field Experiments Website.
  4. David M. Bruner & William L. Huth & David M. McEvoy & O. Ashton Morgan, 2011. "Accounting for Taste: Consumer Valuations for Food-Safety Technologies," Working Papers 11-09, Department of Economics, Appalachian State University.
  5. Morten Mørkbak & Jonas Nordström, 2009. "The Impact of Information on Consumer Preferences for Different Animal Food Production Methods," Journal of Consumer Policy, Springer, Springer, vol. 32(4), pages 313-331, December.

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