AN EVALUATION OF CONSUMER ACCEPTANCE OF GENETICALLY MODIFIED FOOD: WILLINGNESS-TO-PAY (WTP) VS. WILLINGNESS-TO-ACCEPT (WTA).
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Using Heckman's sample selection model, consumer willingness-to-pay (accept) premium (discount) for non-GM (GM) cereals was analyzed. Results showed that consumers who were indifferent to the risk of consuming GM foods behaved differently compared to those who were willing-to-pay (accept) premium (discount) for non-GM (GM) cereals.