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Economics

Agricultural and Resource Economics

Matt Bogard

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An Economic Analysis Of Preferences For Genetically Engineered Foods, Matt Bogard Dec 2004

An Economic Analysis Of Preferences For Genetically Engineered Foods, Matt Bogard

Matt Bogard

Agricultural biotechnology offers tremendous benefits to farmers and to society as it provides tools for mitigation of a number of environmental externalities related to water quality and food safety (USDA, 2000; Munkvold, 1999). However, perceptions of the safety of recombinant DNA technology on the part of consumers and management decisions by producers can shape the policy environment in ways that may inhibit expanded use of biotech traits in agriculture. This report presents a theoretical behavioral model of consumer preferences using utility theory as they relate to agricultural biotechnology. An empirical model and survey instrument are proposed to test hypotheses related ...