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

Author

Listed:
  • 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.

Suggested Citation

  • Vanwechel, Tamara & Wachenheim, Cheryl J. & Schuck, Eric C. & Lambert, David K., 2003. "Consumer Valuation Of Genetically Modified Foods And The Effect Of Information Bias," Agribusiness & Applied Economics Report 23620, North Dakota State University, Department of Agribusiness and Applied Economics.
    • Handle: RePEc:ags:nddaae:23620
    DOI: 10.22004/ag.econ.23620
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    Citations

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    Cited by:

    1. 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.
    2. 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), pages 1-13, August.
    3. 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.
    4. 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(1), pages 1-17, April.
    5. 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.

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