Wanki Moon and Siva K. Balasubramanian
Southern Illinois University Carbondale
This study uses consumer survey data collected in the United States (US) and United Kingdom (UK) to examine the linkages between subjective risk and benefit perceptions and willingness-to-pay a premium for non-genetically modified (non-GM) foods. While UK consumers were significantly more willing to pay a premium to avoid GM foods than US consumers, risk and benefit perceptions clearly translated into behavioral intentions as measured with willingness-to-pay in both countries. More importantly, this paper establishes that risk perception exerts a greater impact on willingness-to-pay than benefit perception.
Key words: Non-GM foods; risk and benefit perception; willingness-to-pay.