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| Hwang, Yun Jae; Roe, Brian E.; Teisl, Mario F.. |
| When products are differentiated and quality is highly subjective (e.g., fashion or art), novel (e.g., a new feature), or difficult to verify prior to purchase (e.g., credence attributes), consumers may turn to price as a signal of quality. Products containing genetically modified (GM) ingredients meet each of these criteria, i.e., GM ingredients are novel, their presence is difficult to verify, and their impact on subjective quality may be viewed differently across individuals with the same knowledge. We add to the limited empirical literature on consumers' use of price as a quality signal by testing for non-monotonicity of consumer demand in price for GM products using data collected from a nationally representative mail survey featuring several... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Research and Development/Tech Change/Emerging Technologies. |
| Ano: 2005 |
URL: http://purl.umn.edu/19509 |
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| Hwang, Yun Jae; Roe, Brian E.; Teisl, Mario F.. |
| For a representative sample of U.S. consumers, we rank, correlate and explain ratings of concern toward eight food production and processing technologies (antibiotics, pesticides, artificial growth hormones, genetic modification, irradiation, artificial colors/flavors, pasteurization, and preservatives). Concern is highest for pesticides and hormones, followed by concern toward antibiotics, genetic modification and irradiation. We document standard relationships between many demographic, economic and attitude variables and the average concern level. Our main contribution is modeling relative levels of concern across technologies, where we find that key personal and household characteristics that yield little explanatory power for average ratings have... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Consumer/Household Economics. |
| Ano: 2005 |
URL: http://purl.umn.edu/19128 |
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