Three axioms underpin consumer choice in neoclassical theory: weak order, independence, and continuity. Two of these axioms may not hold, however, for consumers’ choices regarding genetically modified (GM) food. Consumers may evaluate product attributes differently depending on whether the...

The results of a nationwide New Zealand survey into willingness to pay (WTP) for six different genetically modified (GM) food products were used to estimate market-level demand curves for the products. The raw results clearly indicate that different New Zealanders have different WTP for GM food....