U.S. Consumers' Willingness to Pay for Labeling Information on Genetically Modified Foods: An Application of Choice Modeling

This study analyzes U.S. consumers' valuation of five types of genetically modified food labels on a cornflakes cereal product. Using a nationwide survey and choice-modeling framework, results indicate that consumers value the label "contains no genetically modified corn" the most with a mean willingness to pay of 20 more cents, followed by "USDA approved genetically modified corn" with a mean willingness to pay of 9 more cents, and "corn genetically modified to reduce pesticide residues in your food" with a mean willingness to pay of 7 more cents. Results also suggest that consumers negatively value the labels "contains genetically modified corn" with a mean willingness to pay of 13 less cents and "may contain genetically modified corn" with a mean willingness to pay of 2 less cents.


Issue Date:
2005
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/19490
Total Pages:
21
Series Statement:
Selected Paper 134201




 Record created 2017-04-01, last modified 2017-08-24

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)