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Should the United States Regulate Mandatory Labeling for Genetically Modified Foods?

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Author Info
Huffman, Wallace
Rousu, Matthew
Shogren, Jason F.
Tegene, Abebayehu

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Abstract

Public debate continues over whether the United States should regulate genetically modified (GM) foods by imposing a mandatory labeling policy. This paper develops a model that shows that a voluntary GM-labeling policy results in higher welfare than a regulated mandatory GM-labeling policy, if consumers can accurately read the signals in each market. We then develop an experiment that shows consumers behave as if they can accurately identify signals for GM foods. Our model and results support the perspective that the United States has been prudent in fending off calls for regulations demanding a mandatory GM-labeling policy. Key Words: genetically modified foods, mandatory labeling, voluntary labeling, laboratory auctions, nth-price auction, vegetable oil, tortilla chips, russet potatoes

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Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 10047.

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Date of creation: 30 Oct 2002
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Handle: RePEc:isu:genres:10047

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  1. Rousu, Matthew & Huffman, Wallace & Shogren, Jason F. & Tegene, Abebayehu, 2002. "The Value of Verifiable Information in a Controversial Market: Evidence from Lab Auctions of Genetically Modified Food," Staff General Research Papers 10009, Iowa State University, Department of Economics. [Downloadable!]
  2. Crespi, John M & Marette, Stephan, 2001. " How Should Food Safety Certification Be Financed?," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 83(4), pages 852-61, November. [Downloadable!] (restricted)
  3. Fox, J. & Shogren, J. & Hayes, Dermot J. & Kliebenstein, James, 2004. "CVM-X: Calibrating Contingent Values with Experimental Auction Markets," Staff General Research Papers 11935, Iowa State University, Department of Economics.
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  4. Lusk, Jayson L, et al, 2001. " In-Store Valuation of Steak Tenderness," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 83(3), pages 539-50, August. [Downloadable!] (restricted)
  5. Akerlof, George A, 1970. "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, MIT Press, vol. 84(3), pages 488-500, August. [Downloadable!] (restricted)
  6. John A. List & David Lucking-Reiley, 2000. "Demand Reduction in Multiunit Auctions: Evidence from a Sportscard Field Experiment," American Economic Review, American Economic Association, vol. 90(4), pages 961-972, September. [Downloadable!] (restricted)
  7. Noussair, Charles & Robin, Stephane & Ruffieux, Bernard, 2002. "Do consumers not care about biotech foods or do they just not read the labels?," Economics Letters, Elsevier, vol. 75(1), pages 47-53, March. [Downloadable!] (restricted)
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  8. Smith, Vernon L, 1976. "Experimental Economics: Induced Value Theory," American Economic Review, American Economic Association, vol. 66(2), pages 274-79, May. [Downloadable!] (restricted)
  9. Jack Knetsch & Fang-Fang Tang & Richard Thaler, 2001. "The Endowment Effect and Repeated Market Trials: Is the Vickrey Auction Demand Revealing?," Experimental Economics, Springer, vol. 4(3), pages 257-269, December. [Downloadable!] (restricted)
  10. Shogren, Jason F. & Margolis, Michael & Koo, Cannon & List, John A., 2001. "A random nth-price auction," Journal of Economic Behavior & Organization, Elsevier, vol. 46(4), pages 409-421, December. [Downloadable!] (restricted)
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