Willingness-to-Accept and Willingness-to-Pay for GM and Non-GM Food: UK Consumers

Wanki Moon, Arbindra Rimal and Siva K. Balasubramanian

No 20138, 2004 Annual meeting, August 1-4, Denver, CO from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Our research elicited UK consumers¡¯ willingness-to-accept (WTA) discount in exchange for giving up non-GM food and willingness-to-pay (WTP) premium to purchase non-GM food. Eliciting only WTP does not provide sufficient information for determining substitutability between GM and non-GM food. Results indicate that there is a strong demand for non-GM food in the UK, but a non-negligible segment expressed their willingness to substitute non-GM food with GM version either without discount (12 %) or with discounts (34 %). This result suggests that there is an economic incentive for food industry in Europe to offer GM food to consumers.

Keywords: Consumer/Household Economics; Research and Development/Tech Change/Emerging Technologies (search for similar items in EconPapers)
Pages: 25
Date: 2004
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea04:20138

DOI: 10.22004/ag.econ.20138

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