Economic Effects of Purity Standards in Biotech Labeling Laws
AbstractThis paper develops a model of heterogeneous consumer preferences and imperfectly competitive suppliers to analyze the market and welfare effects of purity standards for non-GM food products. Analytical results show that purity standards affect the equilibrium prices and quantities of both the GM and non-GM products as well as the welfare of the groups involved. A change in purity standards is shown to create winners and losers among the consumers and the suppliers of the GM and non-GM products. Our analysis provides insights on labeling policies and the position of interest groups in countries with different adoption of, and attitudes towards genetically modified products.
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Bibliographic InfoArticle provided by De Gruyter in its journal Journal of Agricultural & Food Industrial Organization.
Volume (Year): 9 (2011)
Issue (Month): 1 (April)
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Web page: http://www.degruyter.com
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