Risk Amplification, Risk Preference and Acceptance of Transgenic Technology

Li Zhao, Shumin Liu, Haiying Gu () and David Ahlstrom
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Li Zhao: College of Economics and Management, Shanghai Maritime University, Pudong District, Shanghai 201306, China
Shumin Liu: College of Economics and Management, Shanghai Maritime University, Pudong District, Shanghai 201306, China
Haiying Gu: Antai College of Economics and Management, Shanghai Jiao Tong University, Xuhui District, Shanghai 200030, China
David Ahlstrom: Department of Management, CUHK Business School, The Chinese University of Hong Kong, Shatin, Hong Kong

Agriculture, 2023, vol. 13, issue 10, 1-22

Abstract: Consumer preferences and attitudes toward genetically modified (GM) food have been widely studied, yet there is little research on the aspects of farmers and risk amplification. Based on both a field survey and an experiment conducted in villages in China’s eastern provinces of Shandong, Shanxi and Henan in 2021, we explore the impact of producers’ risk amplification and risk preferences on the acceptance of transgenic technology. Results show that only 37.3% of participants from the whole sample did not amplify the risk associated with GM products. In terms of regions, the percentages of participants in Henan, Shanxi and Shandong who amplified the risk associated with GM products were 65.3%, 62.4% and 60%, respectively. Moreover, the results of the economic experiment on risk preference indicate that over two-thirds of farmers proved to be risk-averse. Finally, full sample estimation results using ordered logit and Poisson models showed that risk amplification, relative risk aversion and risk perception all have negative impacts on producers’ response to GM plant seeds, including participants’ acceptance intention, purchasing intention and recommendation intention.

Keywords: risk preference; risk amplification; GM plant seeds; China (search for similar items in EconPapers)
JEL-codes: Q1 Q10 Q11 Q12 Q13 Q14 Q15 Q16 Q17 Q18 (search for similar items in EconPapers)
Date: 2023
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