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Abstract

This work offers a new approach to the adoption of GM crop varieties by adopting the econometric methodology of the characteristics-based demand literature. A random utility framework was implemented through different specifications of a conditional (CL) and a mixed multinomial logit (MMNL) model of crop-variety choice. Willingness-to-pay and price elasticity estimates for traits were calculated. The MMNL approach demonstrates that individuals' tastes for some traits significantly vary across the population. Results further suggest that labor saving technologies have a much wider potential to be adopted. Overall, the use of a trait-based model to examine the adoption patterns of GM crop varieties among corn farmers in Minnesota and Wisconsin reveals a new set of results and lessons that classic adoption models cannot provide.

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