Role of information in the valuation of unfamiliar goods – the case of genetic resources in agriculture

Heini Ahtiainen, Annika Tienhaara, Eija Pouta and Mikolaj Czajkowski

No 261423, 2017 International Congress, August 28-September 1, 2017, Parma, Italy from European Association of Agricultural Economists

Abstract: We analyse information effects in the valuation of agricultural genetic resources using choice experiments. We define two respondent groups based on their information use. Our findings indicate that socio-demographic and attitudinal variables affect information use. There is significant individual preference heterogeneity, but there are no significant differences in scale between the information groups after allowing the mean coefficients for the attributes differ. Those having read the additional information derive higher utility from the protection of agricultural genetic resources. Our results highlight the importance of genetic resource conservation and controlling for the effects of information use in choice experiment models for unfamiliar goods.

Keywords: Consumer/Household Economics; Demand and Price Analysis (search for similar items in EconPapers)
Pages: 13
Date: 2017-08-28
New Economics Papers: this item is included in nep-agr
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Related works:
Working Paper: Role of information in the valuation of unfamiliar goods—the case of genetic resources in agriculture (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:eaae17:261423

DOI: 10.22004/ag.econ.261423

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