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A Risk Perception Analysis Of Genetically Modified Foods Based On Stated Preferences

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  • Bugbee, Marcia
  • Loureiro, Maria L.

Abstract

Most of the existing literature deals with consumer willingness to pay for GM-free food, or consumer willingness to accept for GM food. However, it is well know that consumers have mixed views about GM foods. In this research, we do not presume that all consumers may just have positive or negative preferences about GM products. Rather, heterogeneous preferences are considered. This paper presents a contingent valuation questioning sequence and associated modeling approaches that allow identification of both positive and negative preferences. Willingness to pay (WTP) for the GM product is contrasted with willingness to accept (WTA) compensation to buy it.

Suggested Citation

  • Bugbee, Marcia & Loureiro, Maria L., 2003. "A Risk Perception Analysis Of Genetically Modified Foods Based On Stated Preferences," 2003 Annual meeting, July 27-30, Montreal, Canada 22017, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea03:22017
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    References listed on IDEAS

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    5. Ju-Chin Huang & Timothy C. Haab & John C. Whitehead, 2000. "“Absolute versus Relative Risk Perception: An Application to Seafood Safety,”," Working Papers 0010, East Carolina University, Department of Economics.
    6. Mattias Boman & Göran Bostedt & Bengt Kriström, 1999. "Obtaining Welfare Bounds in Discrete-Response Valuation Studies: A Non-Parametric Approach," Land Economics, University of Wisconsin Press, vol. 75(2), pages 284-294.
    7. Huffman, Wallace E. & Shogren, Jason F. & Rousu, Matthew C. & Tegene, Abebayehu, 2001. "The Value To Consumers Of Gm Food Labels In A Market With Asymmetric Information: Evidence From Experimental Auctions," 2001 Annual meeting, August 5-8, Chicago, IL 20553, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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    9. W. George Hutchinson & Riccardo Scarpa & Susan M. Chilton & T. McCallion, 2001. "Parametric and Non-Parametric Estimates of Willingness to Pay for Forest Recreation in Northern Ireland: A Discrete Choice Contingent Valuation Study with Follow-Ups," Journal of Agricultural Economics, Wiley Blackwell, vol. 52(1), pages 104-122.
    10. Baker, Gregory A. & Burnham, Thomas A., 2001. "Consumer Response To Genetically Modified Foods: Market Segment Analysis And Implications For Producers And Policy Makers," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 26(02), December.
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    12. Anni Huhtala, 2000. "Binary Choice Valuation Studies with Heteregeneous Preferences Regarding the Program Being Valued," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 16(3), pages 263-279, July.
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    Cited by:

    1. Dannenberg, Astrid, 2009. "The dispersion and development of consumer preferences for genetically modified food -- A meta-analysis," Ecological Economics, Elsevier, vol. 68(8-9), pages 2182-2192, June.
    2. James O. Bukenya & Natasha R. Wright, 2007. "Determinants of consumer attitudes and purchase intentions with regard to genetically modified tomatoes," Agribusiness, John Wiley & Sons, Ltd., vol. 23(1), pages 117-130.
    3. Lusk, Jayson L. & Jamal, Mustafa & Kurlander, Lauren & Roucan, Maud & Taulman, Lesley, 2005. "A Meta-Analysis of Genetically Modified Food Valuation Studies," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 30(01), April.

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    Keywords

    Risk and Uncertainty;

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