In a survey of UK consumers, we elicited their willingness to accept (WTA) a discount for GM foods and willingness to pay (WTP) a premium for non-GM foods in order to assess their valuation on the non-GM characteristic in food products. Mean WTA is found to exceed mean WTP, suggesting the...

A two-stage decision model is developed to assess the effect of perceived soy health benefits on consumers' decisions with respect to soy food. The first stage captures whether or not to consume soy food, while the second stage reflects how often to consume. A conceptual/analytical framework is...

This study uses a generalized Bayesian updating model to estimate the impact of health information appearing in the popular media on the consumption of eggs. The framework permits us to explore the possible effects of several known psychological biases in learning. Generalized Bayesian learning...