publication . Preprint . Other literature type . 2004

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

Moon, Wanki; Rimal, Arbindra; Balasubramanian, Siva K.; Moon, Wanki; Rimal, Arbindra; Balasubramanian, Siva K.;
Open Access
  • Published: 01 Jan 2004
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.
Subjects
free text keywords: Consumer/Household Economics, Research and Development/Tech Change/Emerging Technologies,, Consumer/Household Economics, Research and Development/Tech Change/Emerging Technologies
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publication . Preprint . Other literature type . 2004

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

Moon, Wanki; Rimal, Arbindra; Balasubramanian, Siva K.; Moon, Wanki; Rimal, Arbindra; Balasubramanian, Siva K.;