Quantifying the effect of market information on demand for genetically modified salmon
Date of Original Version
We investigate how production process labels and information about potential positive and/or negative aspects of GM technology affects demand for novel seafood products. We collected data during an online choice experiment distributed among 1,043 United States seafood consumers. Our results indicate participants not provided with GM information are willing to pay a premium for Verified Non-GM and Organic fillets, but require a discount for Fed-GM and GM fillets. Positive information reduces willingness to pay (WTP) for Organic, Non-GM and GM fillets, while negative information significantly increases WTP for Organic fillets and reduces WTP for GM fillets. Balanced information reduces WTP for Organic and Verified Non-GM salmon, similar in magnitude to positive information, and reduces WTP for GM-Fed and GM salmon, similar in magnitude to negative information. We provide some recommendations and discussion on how producers and food sellers might encourage effective communication between themselves and consumers based on our findings and the broader literature.
Aquaculture Economics and Management
Weir, Michael J., Hirotsugu Uchida, and Maya Vadiveloo. "Quantifying the effect of market information on demand for genetically modified salmon." Aquaculture Economics and Management 25, 1 (2021): 1-26. doi:10.1080/13657305.2020.1803447.