Lisa House

Influence of brand name and type of modification on consumer acceptance of genetically engineered corn chips: a preliminary analysis

In an effort to counteract adverse consumer reaction to genetically engineered foods, the biotechnology industry has shifted attention to deriving and promoting foods that have been genetically modified to have benefits for the consumer. However, is it uncertain whether this strategic shift will be successful at changing consumer perception of biotechnology. To provide an initial investigation into the issue, we surveyed 270 Mississippi State students. Results suggest that these consumers were more accepting of corn chips that had been modified to increase shelf life as opposed to increasing farmer yields; however, willingness-to-pay premiums for these value-added corn chips were extremely small relative to corn ships that contained no genetically engineered corn. Results also suggest students were more accepting of genetically engineered foods when sold by agribusinesses with high levels of brand equity or store loyalty.

Perceptions of the risks and benefits of genetically-modified foods and their influence on willingness to consume

Abstract There has been debate in the literature as to whether: (1) the risks and benefits of genetically-modified (GM) food and agriculture are considered and determined by individuals separately or whether they are jointly determined by attitudes; (2) consumer acceptance is determined by individuals weighing up their risk and benefit perceptions in a rational, even-handed manner, or if benefit perceptions are more important than risk perceptions, and (3) certain types of risk and benefit are more important than others. Against this background, this paper assesses the categories of risks and benefits and their relative importance in determining willingness to consume. A survey was carried out to collect data on the categories of risks and benefits in the US, UK and France, and the relative importance of selected perceived risk and benefit dimensions was estimated. The findings show: risk and benefit perceptions are negatively correlated, but not perfectly and, given that regressions we performed support the proposition that benefits are more important than risks in determining willingness to consume, a strong case can be made for measuring risks and benefits separately. Almost 2/3 of consumers perceive medium to high potential benefits from GM, though the proportion is slightly lower in the UK and down to 40% in France. Nevertheless, this suggests a much higher level of support for the technology than is normally assumed. From the study, benefits are more important for consumers’ willingness to consume than perceived risks, and slightly more interviewees scored above than below the mean on willingness to consume GM food.

Determinants of consumers' willingness to accept GM foods

This paper investigates Willingness to Accept (WTA) Genetic Modification (GM) foods based on experimental auctions carried out in the USA, UK and France. It explores perceptions of risk and benefits, moral concerns and their antecedents, attitudes to the environment and technology and trust in various sources using Structural Equation Modelling (SEM). Trust in information provided by industry proved to be the most important determinant of risk/benefit perceptions and WTA followed by general attitudes to the environment and technology. Education and age are also enhance perceived benefits and lower perceived risks of GM. Perception of risk/benefit and moral concerns all have significant effects on consumers WTA but the perceived benefits are most important. The research suggests that trust-building by industry would be the most effective in enhancing GM acceptance.

Student Perceptions of Online Distance Education in Undergraduate Agricultural Economic Programs

Undergraduate Food and Resource Economics majors and those with different majors were surveyed to determine the perceived advantages and disadvantages of distance and online education courses from a student perspective. Specific objectives included determining if students who have been exposed to more online courses are more likely to rate online education as positive or negative relative to the traditional classroom setting. In general, Food and Resource Economics majors tended to view distance and online education courses less favorably than did the others.

Tung Oil: A Revival

This case illustrates the difficult financial decisions that exist in agriculture. A small group of farmers are considering planting tung nut trees on their land. Historical information about the tung nut industry is included as background. Because tung nuts are grown on trees, farmers deciding to invest in tung orchards must wait years for a return on investment. Instructors can use this case to aid in teaching financial topics, such as net present value, simple rate of return, and other financial measures. Other issues also could be explored, including risk, marketing channels, business planning, and alternative agricultural crops.

Impacts of Nutrition Information on Choices of Fresh Seafood Among Parents

ABSTRACT Federal rules require raw meat and poultry products to carry nutrition information, but such rules do not extend to fresh (raw) seafood products. This article examines the extent to which providing nutrition information could impact consumers choices for seafood, with a special focus on parents with children, because parents influence the food preferences of future generations. Using a choice experiment with a between subjects design, we find that providing nutrition information similar to the nutrition facts panel increases marginal willingness to pay (MWTP) for all types of seafood studied, whereas providing health benefit information of seafood is only effective for some types of seafood. This finding can inform the industry and policy makers on the potential impact of introducing nutrition labels for fresh seafood. JEL Codes: C35, C90, M31, Q13, Q18.

Bainbridge Festive Foods

Lara Owens and Kathleen Pegram were starting to worry about their newly acquired business, Bainbridge Festive Foods. Bainbridge, a supplier of specialty jams, jellies, and pickles, sold its product through many outlets but relied heavily on a relationship with Cracker Barrel (a restaurant usually accompanied with a country gift store). Many issues face Bainbridge Festive Foods and its new owners. This case offers the opportunity to examine a small agribusiness facing many common issues: reputation (food quality and safety), change in ownership, reliance on one outlet, and a price structure that had not been examined since the firms inception.

Silver Lake Farms, Inc

The decision case Silver Lake Farms, Inc. is intended to provide an example of how marketing channels are important to agriculture. In this case, a small catfish farmer is faced with a marketing dilemma—ponds of mature fish, but nowhere to market the fish. Instructors can use this case to teach topics such as marketing channels, vertical integration, and the effect of an infant industry. As with other case studies, many issues could be explored, ranging from food safety to market power to the aquaculture industry.