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Agricultural and Resource Economics Review >
Volume 35, Number 2, October 2006 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/10226
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| Title: | An Experimental Investigation of Consumer Willingness to Pay for Non-GM Foods When an Organic Option Is Present |
| Authors: | Bernard, John C.
Zhang, Chao
Gifford, Katie |
| Keywords: | auction experiments
GM foods
organic foods
willingness to pay |
| Issue Date: | 2006-10 |
| Abstract: | This research compared bids that consumers placed on non genetically modified (GM), organic, and conventional versions of food products in order to determine if the organic market well serves those seeking to avoid GM foods. Auction experiments using potato chips, tortilla chips, and milk chocolate were conducted with 79 subjects. Bids were modeled as a function of consumer demographics using a heteroskedastic tobit regression model. Results with the non-GM attribute nested into the organic characteristic showed that the latter's marginal effects were insignificant. This suggested the potential to further develop non-GM products for consumers not willing to pay extra for the remaining organic attributes. |
| URI: | http://purl.umn.edu/10226 |
| Institution/Association: | Agricultural and Resource Economics Review>Volume 35, Number 2, October 2006 |
| Total Pages: | 12 |
| Language: | English |
| Journal Issue : | Agricultural and Resource Economics Review |
| Journal Volume: | 35 |
| Journal Date: | October 2006 |
| From Page: | 374 |
| To Page: | 385 |
| Collections: | Volume 35, Number 2, October 2006
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| 35020374.pdf | 230Kb | PDF | View/Open |
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