CONSUMER VALUATION OF GENETICALLY MODIFIED FOODS AND THE EFFECT OF INFORMATION BIAS Report as inadecuate




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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.

Keywords: biotechnology ; environment ; experimental auction ; genetically modified ; information ; willingness-to-pay

Subject(s): Food Consumption/Nutrition/Food Safety

Research and Development/Tech Change/Emerging Technologies

Issue Date: 2003

Publication Type: Report

PURL Identifier: http://purl.umn.edu/23620

Total Pages: 18

Series Statement: Agribusiness & Applied Economics Report No. 513

Record appears in: North Dakota State University > Department of Agribusiness and Applied Economics > Agribusiness & Applied Economics Report





Author: Vanwechel, Tamara ; Wachenheim, Cheryl J. ; Schuck, Eric C. ; Lambert, David K.

Source: http://ageconsearch.umn.edu/record/23620?ln=en



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