Campus Units

Economics

Document Type

Article

Publication Version

Published Version

Publication Date

5-2007

Journal or Book Title

Journal of Economic Behavior & Organization

Volume

63

Issue

1

First Page or Article ID Number

193

Last Page

206

DOI

10.1016/j.jebo.2005.04.019

Abstract

New food products using genetically modified crops appeared in U.S. supermarkets starting in 1996, and consumers’ perceived some risks. This paper examines the role of consumers prior beliefs about genetic modification and of diverse, new information on their willingness to pay for foods that might be genetically modified. We use data from economics experiments and show that participants who had informed prior beliefs discounted GM-labeled food products more highly than those who had uninformed prior beliefs. Uninformed participants were especially susceptible to information from interested and third parties. In contrast, informed participants were generally not affected significantly by new information.

JEL Classification

C91, D12, D82

Comments

This article is from Journal of Economic Behavior & Organization 63 (2007): 193, doi: 10.1016/j.jebo.2005.04.019.

Rights

Works produced by employees of the U.S. Government as part of their official duties are not copyrighted within the U.S. The content of this document is not copyrighted.

Language

en

File Format

application/pdf