THE INFLUENCE OF ENVIRONMENTAL-IMPACT INFORMATION ON CONSUMER WILLINGNESS TO PAY FOR PRODUCTS LABELED AS FREE OF GENETICALLY MODIFIED INGREDIENTS
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Limited information is available about consumer willingness to pay for genetically modified food products. This information is of immediate interest to the food industry. An experimental auction was conducted to assess willingness to pay for food items labeled as free of genetically modified ingredients and to evaluate the influence of positive and negative information about the impact of biotechnology on the environment. Two hypotheses were tested and rejected: 1) Participant bids for products labeled with a non-genetically modified ingredient guarantee equal those for traditionally labeled products, and 2) Information bias will not influence the willingness-to-pay differential between non-GM and traditionally labeled products.