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Lookup NU author(s): Dr Michael Wallace
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It is recognized that many consumers are skeptical about genetically modified (GM) foods. Yet less is known about the extent to which consumers may purchase GM food products given suitable price positioning and marketing information on nonprice attributes of the products. In this study, we examine consumer acceptance of GM late blight resistant potatoes in Ireland. Our analysis uses an experimental auction methodology that facilitates positive and negative bids to provide a more complete revelation of preferences. Results show that a majority of participants preferred conventional potatoes to GM potatoes. Favorable information about GM increased subjects’ valuations of GM potatoes. After being informed about potential economic and health benefits, up to two-thirds of our subjects indicated that they would choose GM potatoes at a 20% price discount, while 14% of subjects would still reject GM potatoes at any price. Higher levels of education, greater familiarity with GM, and the presence of children in the household were associated with lower valuation of the GM product. [EconLit citations: C91; D12].
Author(s): Thorne F, Fox JA, Mullins E, Wallace M
Publication type: Article
Publication status: Published
Print publication date: 17/01/2017
Online publication date: 11/08/2016
Acceptance date: 28/06/2016
Date deposited: 03/02/2017
ISSN (print): 2211-5811
ISSN (electronic): 1570-2367
Publisher: Wiley-Blackwell Publishing Ltd.
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