"Food products containing genetically modified (GM) ingredients have entered the market over the past decade. The biotech industry and environmental groups have disseminated conflicting private information about GM foods. This paper develops a unique methodology for valuing independent...

To be effective, groups that disseminate information need the trust of consumers. When multiple groups provide conflicting information on a new product or process like GM-foods, consumers place different levels of trust in the various sources. We present a model of the contributions of personal...

Genetically modified (GM) foods have been engulfed in considerable controversy, and the early optimism has been dampened. Information issues--labeling and asymmetric information--are central to the GM-food debate. Furthermore, it is important to understand the reaction in developed countries to...

Government officials and other policymakers often face difficult decisions determining what information must be provided to consumers in the limited space available on food labels. An ideal label will cause consumers to make the same purchase that they would make if they had all relevant...

This book explores frontier work at the intersection of experimental and environmental economics, with cutting edge research provided by premier scholars in the field. The book begins by focusing on improving benefit–cost analysis, which remains the hallmark of public policy...

Recent evidence suggests that participants' misunderstanding of experimental auction mechanisms can systematically bias auction results. We present a simple technique for testing whether field auction participants fully understand the demand-revealing nature of the auction mechanism and, by...

Firms spend billions of dollars annually on new product and label designs in order to attract and retain customers. The issue of labeling is also important to government agencies and nonprofit labeling organizations. For example, the U.S. Food and Drug Administration has an organizational body...

Policymakers are considering including stricter standards in international trade agreements. Using auctions to assess preferences, we find that the median consumer places no premium on fair trade foods produced under more stringent labor and environmental standards. This indicates that current...

Food products containing genetically modified (GM) ingredients have entered the market over the past decade. The biotech industry and environmental groups have disseminating conflicting private information about GM foods. This paper develops a unique methodology for valuing independent...