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Public Acceptance of and Willingness to Pay for Nanofood: Case of Canola Oil

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  • Zhou, Guzhen
  • Hu, Wuyang
  • Schieffer, Jack
  • Robbins, Lynn
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    Abstract

    Nanotechnology has tremendous potential in food and agriculture. Few economic studies focused on specific products made using nanotechnology, let alone food or food related products. Using a national choice experiment survey, this analysis examines consumers’ valuations for nano-attributes. As implied, consumers were willing to pay less for canola oil if it was produced from nanoscale-modified seed; less if the final products were packed with nanotechnology-enhanced packaging technique; and no significant difference was found for oil that was designed with health enhancing nano-engineered oil drops, which would require interaction with the human digestive system. Additionally, the results revealed unobserved heterogeneities among respondents in their willingness-to-pay for canola oil attributes. Findings from this study will help bridge the gap between scientific innovation and public policy and social-economic concerns. Implications for government policy that can be efficiently used to monitor and regulate these technologies were also investigated.

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    Bibliographic Info

    Paper provided by Agricultural and Applied Economics Association in its series 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. with number 149662.

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    Date of creation: 04 Aug 2013
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    Handle: RePEc:ags:aaea13:149662

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    Keywords: Choice experiment; Mixed Logit model; Nanotechnology application; Willingness to Pay; Agribusiness; Agricultural and Food Policy; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Marketing; Research Methods/ Statistical Methods; Q13; Q16;

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    1. Arne Hole & Julie Kolstad, 2012. "Mixed logit estimation of willingness to pay distributions: a comparison of models in preference and WTP space using data from a health-related choice experiment," Empirical Economics, Springer, vol. 42(2), pages 445-469, April.
    2. Kar H. Lim & Wuyang Hu & Leigh J. Maynard & Ellen Goddard, 2013. "U.S. Consumers’ Preference and Willingness to Pay for Country-of-Origin-Labeled Beef Steak and Food Safety Enhancements," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 61(1), pages 93-118, 03.
    3. Roosen, Jutta & Bieberstein, Andrea & Marette, Stephan & Blanchemanche, Sandrine & Vandermoere, Frederic, 2011. "The Effect of Information Choice and Discussion on Consumers' Willingness-to-Pay for Nanotechnologies in Food," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 36(2), August.
    4. Meijer, E. & Rouwendal, J., 2000. "Measuring welfare effects in models with random coefficients," Research Report 00F25, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    5. Wuyang Hu & Michele M. Veeman & Wiktor L. Adamowicz, 2005. "Labelling Genetically Modified Food: Heterogeneous Consumer Preferences and the Value of Information," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 53(1), pages 83-102, 03.
    6. Søren Olsen, 2009. "Choosing Between Internet and Mail Survey Modes for Choice Experiment Surveys Considering Non-Market Goods," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 44(4), pages 591-610, December.
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