Consumers’ WTA for GM rice cookie: an experiment study in China

This paper uses experimental auction method to study the WTA for GM rice cookies of Chinese consumers. The bid data are collected from 353 randomly recruited undergraduate students participated in Wuhan, China, during the spring and early summer of 2008.The experiment auction suggest most participant hold a positive WTA for GM rice cookie, which suggest that consumers regard GM rice an inferior substitutes for non-GM rice. Information favorable of GM rice will decrease the WTA, while negative information will increase the WTA. When information of both sides is revealed, the WTA bids decrease at different pace according to the sequence of discovering information.