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Market and Welfare Effects of Second-Generation, Consumer-Oriented GM Products

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  • Konstantinos Giannakas
  • Amalia Yiannaka
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    Abstract

    We examine the economic effects of the introduction of consumer-oriented genetically modified (GM) products into the food system by developing a model of heterogeneous consumers and producers that allows for vertical and horizontal differentiation between the products available to consumers. The model facilitates the estimation of consumer and producer surpluses in the product/utility and product/net returns spaces. Results show that the introduction of consumer-oriented GM products can change the relationship between GM and conventional and organic products from one of vertical to one of horizontal product differentiation and can enhance both economic welfare and the market acceptance and growth of agricultural biotechnology. Copyright 2008, Oxford University Press.

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    File URL: http://hdl.handle.net/10.1111/j.1467-8276.2007.01053.x
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    Bibliographic Info

    Article provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.

    Volume (Year): 90 (2008)
    Issue (Month): 1 ()
    Pages: 152-171

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    Handle: RePEc:oup:ajagec:v:90:y:2008:i:1:p:152-171

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    Cited by:
    1. Bonroy, O. & Constantatos, C., 2013. "On the economics of labels : a review of the theoretical literature," Working Papers 2013-01, Grenoble Applied Economics Laboratory (GAEL).
    2. Hu, Wuyang & Woods, Timothy A. & Bastin, Sandra & Cox, Linda J. & You, Wen, 2011. "Assessing Consumer Willingness to Pay for Value-Added Blueberry Products Using a Payment Card Survey," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 43(02), May.
    3. Hajderllari, Eliona & Karantininis, Kostas, 2011. "Genetically modified foods in vertically differentiated and vertically oligopolistic markets," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114774, European Association of Agricultural Economists.
    4. Manuel Thiel & Rainer Marggraf, 2009. "Gentechnik oder nicht Gentechnik - Bestimmungsgründe der Wahl von (nicht) gentechnisch veränderten Produkten," Yearbook of Socioeconomics in Agriculture, Swiss Society for Agricultural Economics and Rural Sociology, vol. 2(1), pages 35-58.
    5. Awada, Lana & Yiannaka, Amalia, 2012. "Consumer perceptions and the effects of country of origin labeling on purchasing decisions and welfare," Food Policy, Elsevier, vol. 37(1), pages 21-30.
    6. Khachaturyan, Marianna & Yiannaka, Amalia, 2012. "The Market Acceptance And Welfare Impacts Of Genetic Use Restriction Technologies (Gurts)," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 126880, International Association of Agricultural Economists.

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