Consumer Willingness to Pay for Nano-packaged Food Products: Evidence from Experimental Auctions

Using experimental auctions, this paper evaluates the impact of information on consumers’ willingness to pay (WTP) for nano-packaged food products. Positive, negative and neutral information about the risks and benefits of nanotechnology in food processing was presented to consumers to measure the influence of information on consumer WTP. Double hurdle model results show that the specific information about nanotechnology from various sources has a negative effect on the probability of consumers valuing nano-packaged products. For consumers who did value nano-packaged products, general and specific information about nanotechnology had a positive effect on their WTP for nano-packaged salad and apple sauce. The effects of information on the WTPs of consumer who valued the products were more idiosyncratic, varying across the type of product, prior knowledge about nanotechnology, age, income, gender, marital status, and education.


Issue Date:
2013
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/149676
Total Pages:
31
JEL Codes:
Q13; Q16




 Record created 2017-04-01, last modified 2017-08-27

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