CONSUMER RESPONSES TOWARDS NON-GM FOOD: EVIDENCE FROM EXPERIMENTAL AUCTIONS IN VIETNAM

This study aimed to investigate the point of view of consumers in developing and emerging market about the genetically modified and non-genetically modified food based on the evidence from soymilk non- genetically modified product. The experimental auction method was employed to explicit the willing...

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Autores principales:	Yen Dan Tong, Dong Khuu, Truong Duc Toan, Phuong Duy Nguyen, Nhai Pham
Formato:	article
Lenguaje:	EN TR
Publicado:	International Journal of Food and Agricultural Economics 2021
Materias:	genetically modified food experimental auctions consumer responses food labelling vietnam Agriculture S
Acceso en línea:	https://doaj.org/article/35a57cc6f24b4a5da5478c3832aa5f54
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spelling	oai:doaj.org-article:35a57cc6f24b4a5da5478c3832aa5f542021-11-29T11:21:47ZCONSUMER RESPONSES TOWARDS NON-GM FOOD: EVIDENCE FROM EXPERIMENTAL AUCTIONS IN VIETNAM2147-8988https://doaj.org/article/35a57cc6f24b4a5da5478c3832aa5f542021-10-01T00:00:00Zhttps://www.foodandagriculturejournal.com/vol9.no4.pp297.pdfhttps://doaj.org/toc/2147-8988This study aimed to investigate the point of view of consumers in developing and emerging market about the genetically modified and non-genetically modified food based on the evidence from soymilk non- genetically modified product. The experimental auction method was employed to explicit the willingness-to-pay of Vietnamese consumers for a non-genetically modified soymilk products. Regression analysis was applied to determine factors influencing consumer's WTP for non-genetically modified product. The results indicated that consumers are willing to pay 84% premium for soy milk with non-genetically modified attribute information in comparison with the conventional one. The level of WTP derived from the auction is not much different from the market price of the product being auctioned. Notably, consumers with high level of risk aversion were likely to purchase non-genetically modified food. This was a predominant factor that determines who would accept or deny the consumption of non-genetically modified food.Yen Dan TongDong KhuuTruong Duc ToanPhuong Duy NguyenNhai PhamInternational Journal of Food and Agricultural Economicsarticlegenetically modified foodexperimental auctionsconsumer responsesfood labellingvietnamAgricultureSENTRInternational Journal of Food and Agricultural Economics, Vol 9, Iss 4, Pp 297-308 (2021)
institution	DOAJ
collection	DOAJ
language	EN TR
topic	genetically modified food experimental auctions consumer responses food labelling vietnam Agriculture S
spellingShingle	genetically modified food experimental auctions consumer responses food labelling vietnam Agriculture S Yen Dan Tong Dong Khuu Truong Duc Toan Phuong Duy Nguyen Nhai Pham CONSUMER RESPONSES TOWARDS NON-GM FOOD: EVIDENCE FROM EXPERIMENTAL AUCTIONS IN VIETNAM
description	This study aimed to investigate the point of view of consumers in developing and emerging market about the genetically modified and non-genetically modified food based on the evidence from soymilk non- genetically modified product. The experimental auction method was employed to explicit the willingness-to-pay of Vietnamese consumers for a non-genetically modified soymilk products. Regression analysis was applied to determine factors influencing consumer's WTP for non-genetically modified product. The results indicated that consumers are willing to pay 84% premium for soy milk with non-genetically modified attribute information in comparison with the conventional one. The level of WTP derived from the auction is not much different from the market price of the product being auctioned. Notably, consumers with high level of risk aversion were likely to purchase non-genetically modified food. This was a predominant factor that determines who would accept or deny the consumption of non-genetically modified food.
format	article
author	Yen Dan Tong Dong Khuu Truong Duc Toan Phuong Duy Nguyen Nhai Pham
author_facet	Yen Dan Tong Dong Khuu Truong Duc Toan Phuong Duy Nguyen Nhai Pham
author_sort	Yen Dan Tong
title	CONSUMER RESPONSES TOWARDS NON-GM FOOD: EVIDENCE FROM EXPERIMENTAL AUCTIONS IN VIETNAM
title_short	CONSUMER RESPONSES TOWARDS NON-GM FOOD: EVIDENCE FROM EXPERIMENTAL AUCTIONS IN VIETNAM
title_full	CONSUMER RESPONSES TOWARDS NON-GM FOOD: EVIDENCE FROM EXPERIMENTAL AUCTIONS IN VIETNAM
title_fullStr	CONSUMER RESPONSES TOWARDS NON-GM FOOD: EVIDENCE FROM EXPERIMENTAL AUCTIONS IN VIETNAM
title_full_unstemmed	CONSUMER RESPONSES TOWARDS NON-GM FOOD: EVIDENCE FROM EXPERIMENTAL AUCTIONS IN VIETNAM
title_sort	consumer responses towards non-gm food: evidence from experimental auctions in vietnam
publisher	International Journal of Food and Agricultural Economics
publishDate	2021
url	https://doaj.org/article/35a57cc6f24b4a5da5478c3832aa5f54
work_keys_str_mv	AT yendantong consumerresponsestowardsnongmfoodevidencefromexperimentalauctionsinvietnam AT dongkhuu consumerresponsestowardsnongmfoodevidencefromexperimentalauctionsinvietnam AT truongductoan consumerresponsestowardsnongmfoodevidencefromexperimentalauctionsinvietnam AT phuongduynguyen consumerresponsestowardsnongmfoodevidencefromexperimentalauctionsinvietnam AT nhaipham consumerresponsestowardsnongmfoodevidencefromexperimentalauctionsinvietnam
_version_	1718407394947497984

CONSUMER RESPONSES TOWARDS NON-GM FOOD: EVIDENCE FROM EXPERIMENTAL AUCTIONS IN VIETNAM

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