Journal paper
TitleConsumer Preference and Willingness to Pay for Genetically Modified Salmon in Taiwan
Issue No.15
Publish Date2004-04
Author NameTsu-Tan Fu; Chin-Chi Chuang; Cheng-Wei Chen
AbstractThis paper attempts to analyze consumer preference toward genetically modified(GM) salmon and to estimate willingness-to-pay a premium for non-GM salmon. To serve such purpose, we conducted an islandwide telephone survey to Taiwanese consumers in 2003. Public risk perceptions and consumer acceptance for GM foods including salmon are investigated. While adopting a multinomial logit to identify preference groups, we also employ Hanemann (1984) approach to measure consumer willingness-to-pay for GM salmon. Empirical results have found that risk perception, price of salmon, gender and income are significant factors to explain consumer preference toward GM and non-GM salmons. Consumers willingness-to-pay for non-GM salmon is averagely estimated to be 49%(or 74 NT dollar per Taiwan kilogram) over current market price of salmon. These findings are critical market information for fishery and biotech industries.
KeywordsConsumer Preference;Genetically modified foods; Risk Premium;Contingent Valuation method
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