Information and order of information effects on consumers' acceptance and valuation for genetically modified edamame soybean.

ABSTRACT: This study examines two different strategies with respect to managing the order in which information about genetically modified (GM) technology would reach and impact consumers of edamame, often referred to as the "vegetable soybean". Edamame are soybeans harvested while the beans are young and soft. We capture consumers' willingness to pay (WTP) for unlabeled edamame, non-GM edamame, and GM edamame using a non-hypothetical random nth price auction. We elicit consumers' valuation for each edamame product before and after introducing information, and test two strategies where the order of providing positive and negative information is reversed. The results suggest that negative information affects WTP to a much greater extent than positive information. Hence a strategy to proactively deal w

SUBMITTER: Lee JY 

PROVIDER: S-EPMC6200256 | biostudies-literature | 2018

REPOSITORIES: biostudies-literature