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2004•AgEcon Search (University of Minnesota, USA)Open access

AN EVALUATION OF CONSUMER ACCEPTANCE OF GENETICALLY MODIFIED FOOD: WILLINGNESS-TO-PAY (WTP) VS. WILLINGNESS-TO-ACCEPT (WTA).

Arbindra Rimal, Wanki Moon, Siva K. Balasubramanian, Rimal, Arbindra, Moon, Wanki, Balasubramanian, Siva K.

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Abstract

Using Heckman's sample selection model, consumer willingness-to-pay (accept) premium (discount) for non-GM (GM) cereals was analyzed. Results showed that consumers who were indifferent to the risk of consuming GM foods behaved differently compared to those who were willing-to-pay (accept) premium (discount) for non-GM (GM) cereals.

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Using Heckman's sample selection model, consumer willingness-to-pay (accept) premium (discount) for non-GM (GM) cereals was analyzed. Results showed that consumers who were indifferent to the risk of consuming GM foods behaved differently compared to those who were willing-to-pay (accept) premium (discount) for non-GM (GM) cereals.

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Available abstract

Using Heckman's sample selection model, consumer willingness-to-pay (accept) premium (discount) for non-GM (GM) cereals was analyzed. Results showed that consumers who were indifferent to the risk of consuming GM foods behaved differently compared to those who were willing-to-pay (accept) premium (discount) for non-GM (GM) cereals.

Key concepts: Willingness to pay, Willingness to accept, Genetically modified food, Economics, Sample (material), Price premium, Genetically modified organism, Business

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AN EVALUATION OF CONSUMER ACCEPTANCE OF GENETICALLY MODIFIED FOOD: WILLINGNESS-TO-PAY (WTP) VS. WILLINGNESS-TO-ACCEPT (WTA). — Research Paper | ScholarLens