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KMID : 0665220090220030338
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Korean Journal of Food and Nutrition
2009 Volume.22 No. 3 p.338 ~ p.344
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Consumers’ Willingness to Pay for Price Increases by the Expansion of GMO Labeling
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Han Jae-Hwan
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Abstract
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This study analyzed consumers’ willingness to pay for price increases to avoid the purchase of GM foods by the expansion of GMO labeling. The subjects were asked about their knowledge of GM, concerns of potential hazards, and sources of obtained GM information. The logit model was employed and marginal effects were calculated to interpret the results. The results showed that consumers who perceived the safety of GM technology were less likely to pay for price increases, while consumers who had concerns about GM foods were more likely to pay. In addition, the study demonstrated that consumers residing in urban areas and with low levels of education and income were also less likely to pay for price increases.
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KEYWORD
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GMO(genetically modified organism), logit, willingness to pay(wtp), labeling
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