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Consumer Valuation Of Genetically Modified Foods And The Effect Of Information Bias

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Author Info

  • Vanwechel, Tamara
  • Wachenheim, Cheryl J.
  • Schuck, Eric C.
  • Lambert, David K.

Abstract

Bid prices were elicited for standard-label cookies, muffins, and potato chips and those identified as not including genetically modified (GM) ingredients using an experimental auction. Including a statement that the product did not include GM ingredients increased bids over those offered for standard-label products. Providing negative-biased information about the impact of GM crops on the environment increased the risk participants associated with GM foods, and positive-biased information decreased perceived risk. Overall, providing impact information, whether positive- or negative-biased, increased bids for products presumed GM. The influence of information bias on bids varied among selected participant groups, supporting the presence of uniquely responsive market segments.

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File URL: http://purl.umn.edu/23620
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Bibliographic Info

Paper provided by North Dakota State University, Department of Agribusiness and Applied Economics in its series Agribusiness & Applied Economics Report with number 23620.

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Date of creation: 2003
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Handle: RePEc:ags:nddaae:23620

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Related research

Keywords: biotechnology; environment; experimental auction; genetically modified; information; willingness-to-pay; Food Consumption/Nutrition/Food Safety; Research and Development/Tech Change/Emerging Technologies;

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Cited by:
  1. McFadden, Brandon R. & Lusk, Jayson L., 2013. "Effects of Cost and Campaign Advertising on Support for California’s Proposition 37," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 38(2), August.
  2. Rodríguez-Entrena, Macario & Salazar-Ordóñez, Melania & Sayadi, Samir, 2013. "Applying partial least squares to model genetically modified food purchase intentions in southern Spain consumers," Food Policy, Elsevier, vol. 40(C), pages 44-53.
  3. Han, Jae-Hwan & Harrison, R. Wes, 2006. "Consumer Valuation of the Second Generation of Genetically Modified (GM) Foods with Benefits Disclosure," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida 35277, Southern Agricultural Economics Association.
  4. Veeman, Michele M. & Adamowicz, Wiktor L. & Hu, Wuyang, 2005. "Risk Perceptions, Social Interactions and the Influence of Information on Social Attitudes to Agricultural Biotechnology," Project Report Series 24052, University of Alberta, Department of Resource Economics and Environmental Sociology.

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