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Consumer Willingness to Pay for Genetically Modified Food Labels in a Market with Diverse Information: Evidence from Experimental Auctions

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Author Info
Huffman, Wallace
Shogren, J. E.
Rousu, M.
Tegene, A.

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Abstract

With the continuing controversy over genetically modified (GM) foods, some groups advocate mandatory labeling of these products, while other groups oppose labeling. An important issue is how GM labels affect consumers' willingness to pay for these food products in the market. Using a statistically based economics experiment with adult consumers as subjects, we examine how willingness to pay changes for three food products--vegetable oil, tortilla chips, and potatoes--when GM labels are introduced. Participants in the experiments discounted GM-labeled foods by approximately 14% relative to their standard-labeled counterparts. The evidence also showed that sequencing of food labels affects willingness to pay, and that randomizing treatments is an important methodological feature in experiments of willingness to pay.

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Publisher Info
Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 12256.

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Date of creation: 01 Mar 2005
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Publication status: Published in Journal of Agricultural and Resource Economics, December 2003, No. 28, pp. 481-502.
Handle: RePEc:isu:genres:12256

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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
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Web page: http://www.econ.iastate.edu
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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. Noussair, C. & Robin, S. & Ruffieux, B., 2001. "Genetically Modified Organisms in the Food Supply: Public Opinion vs. Consumer Behavior," Purdue University Economics Working Papers 1139, Purdue University, Department of Economics.
  2. Shogren, Jason F. & Seung Y. Shin & Dermot J. Hayes & James B. Kliebenstein, 1994. "Resolving Differences in Willingness to Pay and Willingness to Accept," American Economic Review, American Economic Association, vol. 84(1), pages 255-70, March.
  3. repec:cup:cbooks:9780521855167 is not listed on IDEAS
  4. Golan, Elise & Kuchler, Fred & Mitchell, Lorraine, 2000. "Economics Of Food Labeling," Agricultural Economics Reports 34069, United States Department of Agriculture, Economic Research Service. [Downloadable!]
  5. Huffman, Wallace & Rousu, Matthew & Shogren, Jason & Tegene, Abebayehu, 2002. "Who Do Consumers Trust for Information? The Case of Genetically Modified Foods," Staff General Research Papers 10061, Iowa State University, Department of Economics.
  6. Lusk, Jayson L. & Daniel, M. Scott & Mark, Darrell R. & Lusk, Christine L., 2001. "Alternative Calibration And Auction Institutions For Predicting Consumer Willingess To Pay For Nongenetically Modified Corn Chips," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 26(01), July. [Downloadable!]
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  7. Cherry, Todd L. & Crocker, Thomas D. & Shogren, Jason F., 2003. "Rationality spillovers," Journal of Environmental Economics and Management, Elsevier, vol. 45(1), pages 63-84, January. [Downloadable!] (restricted)
    Other versions:
  8. Wilson, William W. & Dahl, Bruce L., 2002. "Costs And Risks Of Testing And Segregating Gm Wheat," Agribusiness & Applied Economics Report 23480, North Dakota State University, Department of Agribusiness and Applied Economics. [Downloadable!]
  9. Carlson, Andrea & Kinsey, Jean & Nadav, Carmel, 1998. "Who Eats What, When, And From Where?," Working Papers 14312, University of Minnesota, The Food Industry Center. [Downloadable!]
  10. Shogren, Jason F & List, John A & Hayes, Dermot J, 2000. " Preference Learning in Consecutive Experimental Auctions," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 82(4), pages 1016-21, November. [Downloadable!] (restricted)
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  11. Kinsey, Jean & Wolfson, Paul & Katsaras, Nikolaos & Senauer, Ben, 2001. "Data Mining: A Segmentation Analysis Of U.S. Grocery Shoppers," Working Papers 14335, University of Minnesota, The Food Industry Center. [Downloadable!]
  12. 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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