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The use of non-hypothetical experimental markets for measuring the acceptance of genetically modified foods

Jaeger, S. R., Lusk, J. L., House, L. O., Valli, C., Moore, M., Morrow, B. and Traill, W. B. (2004) The use of non-hypothetical experimental markets for measuring the acceptance of genetically modified foods. Food Quality and Preference, 15 (7-8). pp. 701-714. ISSN 0950-3293

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To link to this item DOI: 10.1016/j.foodqual.2004.04.002

Abstract/Summary

The findings from a study measuring consumer acceptance of genetically modified (GM) foods are presented. The empirical data were collected in an experimental market, an approach used extensively in experimental economics for measuring the monetary value of goods. The approach has several advantages over standard approaches used in sensory and marketing research (e.g., surveys and focus groups) because of its non-hypothetical nature and the realism introduced by using real goods, real money, and market discipline. In each of three US locations, we elicited the monetary compensation consumers required to consume a GM food. Providing positive information about the benefits of GM food production, in some cases, reduced the level of monetary compensation demanded to consume the GM food. (C) 2004 Elsevier Ltd. All rights reserved.

Item Type:Article
Refereed:Yes
Divisions:Faculty of Life Sciences > School of Agriculture, Policy and Development
ID Code:8711
Uncontrolled Keywords:willingness-to-accept, experimental laboratory auctions, GM, consumer, acceptance, USA, WILLINGNESS-TO-PAY, LABORATORY EXPERIMENTAL AUCTIONS, LIMITED, DEPENDENT-VARIABLES, MODIFIED CORN, CONSUMERS, INFORMATION, VALUES, VALUATION, DISPARITY, RETAIL

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