Consumer Willingness to Pay for Nano-packaged Food Products: Evidence from Experimental Auctions

Bhagyashree Katare, Chengyan Yue and Terrance Hurley

No 149676, 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. from Agricultural and Applied Economics Association

Abstract: Using experimental auctions, this paper evaluates the impact of information on consumers’ willingness to pay (WTP) for nano-packaged food products. Positive, negative and neutral information about the risks and benefits of nanotechnology in food processing was presented to consumers to measure the influence of information on consumer WTP. Double hurdle model results show that the specific information about nanotechnology from various sources has a negative effect on the probability of consumers valuing nano-packaged products. For consumers who did value nano-packaged products, general and specific information about nanotechnology had a positive effect on their WTP for nano-packaged salad and apple sauce. The effects of information on the WTPs of consumer who valued the products were more idiosyncratic, varying across the type of product, prior knowledge about nanotechnology, age, income, gender, marital status, and education.

Keywords: Agricultural and Food Policy; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Marketing (search for similar items in EconPapers)
Pages: 31
Date: 2013
New Economics Papers: this item is included in nep-agr and nep-mkt
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea13:149676

DOI: 10.22004/ag.econ.149676

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