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          2013 Annual Meeting, August 4-6, 2013, Washington, D.C. >

Please use this identifier to cite or link to this item: http://purl.umn.edu/149662

Title: Public Acceptance of and Willingness to Pay for Nanofood: Case of Canola Oil
Authors: Zhou, Guzhen
Hu, Wuyang
Schieffer, Jack
Robbins, Lynn
Authors (Email): Zhou, Guzhen (guzhen.zhou@uky.edu)
Hu, Wuyang (wuyang.hu@uky.edu)
Schieffer, Jack (jack.schieffer@uky.edu)
Robbins, Lynn (lrobbins@uky.edu)
Keywords: Choice experiment
Mixed Logit model
Nanotechnology application
Willingness to Pay
JEL Codes: Q13
Q16
Issue Date: 2013-08-04
Abstract: Nanotechnology has tremendous potential in food and agriculture. Few economic studies focused on specific products made using nanotechnology, let alone food or food related products. Using a national choice experiment survey, this analysis examines consumers’ valuations for nano-attributes. As implied, consumers were willing to pay less for canola oil if it was produced from nanoscale-modified seed; less if the final products were packed with nanotechnology-enhanced packaging technique; and no significant difference was found for oil that was designed with health enhancing nano-engineered oil drops, which would require interaction with the human digestive system. Additionally, the results revealed unobserved heterogeneities among respondents in their willingness-to-pay for canola oil attributes. Findings from this study will help bridge the gap between scientific innovation and public policy and social-economic concerns. Implications for government policy that can be efficiently used to monitor and regulate these technologies were also investigated.
URI: http://purl.umn.edu/149662
Institution/Association: Agricultural and Applied Economics Association>2013 Annual Meeting, August 4-6, 2013, Washington, D.C.
Total Pages: 24
Collections:2013 Annual Meeting, August 4-6, 2013, Washington, D.C.

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