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Planting Decisions And Uncertain Consumer Acceptance Of Genetically Modified Crop Varieties

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Author Info
Saak, Alexander E.
Hennessy, David A.

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Abstract

There exists much uncertainty about consumer attitudes towards genetically modified foods. If it happens that sufficient (insufficient) acres are planted under non-modified seed to meet post-harvest demand, then a price premium will not (will) emerge for the non-modified varieties. A non-linearity originates in the fact that a price premium may be supported. This non-linearity interacts with the extent of demand uncertainty to determine equilibrium varietal plantings and the probability that post-harvest varietal prices will differ. Also, as planting approaches signals will be received by growers about the nature of demand they will be planting into. We show how the non-linearity affects the order on the types of signals that risk-neutral growers will prefer to receive.

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Publisher Info
Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2001 Annual meeting, August 5-8, Chicago, IL with number 20581.

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Date of creation: 2001
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Handle: RePEc:ags:aaea01:20581

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Related research
Keywords: Consumer/Household Economics; Crop Production/Industries;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Lapan, Harvey E & Moschini, Giancarlo, 2000. "Incomplete Adoption of a Superior Innovation," Economica, London School of Economics and Political Science, vol. 67(268), pages 525-42, November. [Downloadable!] (restricted)
    Other versions:
  2. Jonathan Levin & Susan Athey, 2001. "The Value of Information in Monotone Decision Problems," Working Papers 01003, Stanford University, Department of Economics. [Downloadable!]
    Other versions:
  3. Lence, Sergio H. & Hayes, Dermot J., 2001. "Response to an Asymmetric Demand for Attributes: An Application to the Market for Genetically Modified Crops," Staff General Research Papers 2021, Iowa State University, Department of Economics. [Downloadable!]
    Other versions:
  4. Babcock, Bruce A., 2003. "Value of Weather Information in Market Equilibrium (The)," Staff General Research Papers 10592, Iowa State University, Department of Economics.
  5. Milgrom, Paul & Shannon, Chris, 1994. "Monotone Comparative Statics," Econometrica, Econometric Society, vol. 62(1), pages 157-80, January. [Downloadable!] (restricted)
    Other versions:
  6. Henry, Claude, 1974. "Investment Decisions Under Uncertainty: The "Irreversibility Effect."," American Economic Review, American Economic Association, vol. 64(6), pages 1006-12, December. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Saak, Alexander E., 2003. "Identity Preservation And False Non-Gmo Labeling In The Food Supply Chain," 2003 Annual meeting, July 27-30, Montreal, Canada 22182, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  2. Alexander E. Saak, 2002. "Identity Preservation and False Labeling in the Food Supply Chain," Food and Agricultural Policy Research Institute (FAPRI) Publications 02-wp295, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University. [Downloadable!]
  3. Saak, Alexander E., 2002. "Identity Preservation and False Labeling in the Food Supply Chain," Staff General Research Papers 2062, Iowa State University, Department of Economics. [Downloadable!]
  4. Saak, Alexander, 2003. "Spatial Production Concentration, Demand Uncertainty, and Multiple Markets," Staff General Research Papers 10679, Iowa State University, Department of Economics. [Downloadable!]
  5. Alexander E. Saak, 2003. "Location, Planting Decisions, and the Marketing of Quality-Differentiated Agricultural Commodities," Center for Agricultural and Rural Development (CARD) Publications 03-wp331, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
  6. Alexander E. Saak, 2003. "Spatial Production Concentration, Demand Uncertainty, and Multiple Markets," Center for Agricultural and Rural Development (CARD) Publications 03-wp340, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
  7. Alexander E. Saak, 2003. "Spatial Production Concentration, Demand Uncertainty, and Multiple Markets," Food and Agricultural Policy Research Institute (FAPRI) Publications 03-wp340, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University. [Downloadable!]
  8. Alexander E. Saak, 2003. "Location, Planting Decisions, and the Marketing of Quality-Differentiated Agricultural Commodities," Food and Agricultural Policy Research Institute (FAPRI) Publications 03-wp331, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University. [Downloadable!]
  9. Ganiere, Pierre & Chern, Wen S., 2004. "Consumer Acceptance Of Genetically Modified Foods: A Profile Of American Consumers," 2004 Annual meeting, August 1-4, Denver, CO 19972, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  10. Ganiere, Pierre & Chern, Wen S. & Hahn, David, 2004. "Who Are Proponents And Opponents Of Genetically Modified Foods In The United States?," Working Papers 28315, Ohio State University, Department of Agricultural, Environmental and Development Economics. [Downloadable!]
  11. Saak, Alexander, 2003. "Location, Planting Decisions, and the Marketing of Quality-Differentiated Agricultural Commodities," Staff General Research Papers 10359, Iowa State University, Department of Economics. [Downloadable!]
  12. Alexander E. Saak, 2002. "Identity Preservation and False Labeling in the Food Supply Chain," Center for Agricultural and Rural Development (CARD) Publications 02-wp295, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
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