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Article: Consumer Willingness to Pay for "Second-Generation" Genetically Engineered Products and the Role of Marketing Information
- Article from:
- Journal of Agricultural and Applied Economics
- Article date:
- December 1, 2005
- Author:
CopyrightCopyright Southern Journal of Agricultural Economics Dec 2005. Provided by ProQuest LLC. (Hide copyright information)
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Environmental and consumer groups have called for mandatory labeling of genetically engineered (GE) food products in the United States, stating that consumers have the "right to know." Herein, we use a nonhypothetical field experiment to examine the willingness to pay for GE-labeled products, using the only second-generation GE product currently on the U.S. market-GE cigarettes. Our results suggest consumers pay less for GE-labeled cigarettes when marketing information is absent. But, when presented with marketing information on the attributes of the cigarette, we find no evidence that consumers pay less for GE-labeled cigarettes.
Key Words: auctions, BDM mechanism, cigarettes, field ...