Consumers’ WTA for GM rice cookie: an experiment study in China
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This paper uses experimental auction method to study the WTA for GM rice cookies
of Chinese consumers. The bid data are collected from 353 randomly recruited undergraduate
students participated in Wuhan, China, during the spring and early summer of 2008.The
experiment auction suggest most participant hold a positive WTA for GM rice cookie, which
suggest that consumers regard GM rice an inferior substitutes for non-GM rice. Information
favorable of GM rice will decrease the WTA, while negative information will increase the
WTA. When information of both sides is revealed, the WTA bids decrease at different pace
according to the sequence of discovering information.