Public debate continues over whether the United States should regulate genetically modified (GM) foods by imposing a mandatory labeling policy. This paper develops a model that shows that a voluntary GM-labeling policy results in higher welfare than a regulated mandatory GM-labeling policy, if...

Two interested parties dominate the current debate on genetically modified (GM) foods: environmental groups and agribusiness companies. For the average consumer to arrive at an informed decision on these new foods, they must rely on information from interested parties. Unfortunately, information...

Genetically modified (GM) foods have caused many controversies. One important controversy relates to tolerance?the impurity rate that is tolerated before a commodity must be labeled as genetically modified. Currently, the United States does not have a specific tolerance or threshold level for GM...

This paper addressed the puzzling resistance of Presidents of southern African countries to food aid in 2002, given near certain starvation and long-term negative health effects of malnutrition of their constituents.  First, I show that NGOs led by Greenpeace and Friends of the Earth are...

Accurately estimating consumer preferences for new products is an arduous task made difficult by the fact that individuals tend to exhibit a number of biases when answering hypothetical survey questions. Experimental auctions have advantages over conventional methods of estimating consumer...

Accurately estimating consumer demand for new products is an arduous task made even more difficult by the fact that individuals tend to overstate the amount they are willing to pay for new goods when asked hypothetical questions. Despite their appeal in eliminating hypothetical bias, marketers...

In most environments, information is critical to consumer's decision making. Consumers have prior beliefs about quality and price of goods and services and obtain new information which is used to update these prior beliefs or to form posterior beliefs, i.e., Bayesian learning. New food products...

This paper addressed the puzzling resistance of Presidents of southern African countries to food aid in 2002, given near certain starvation and long-term negative health effects of malnutrition of their constituents. First, I show that NGOs led by Greenpeace and Friends of the Earth are...

Genetically modified (GM) foods have caused many controversies. One important controversy relates to tolerance?the impurity rate that is tolerated before a commodity must be labeled as genetically modified. Currently, the United States does not have a specific tolerance or threshold level for GM...

Public debate continues over whether the United States should regulate genetically modified (GM) foods by imposing a mandatory labeling policy. This paper develops a model that shows that a voluntary GM-labeling policy results in higher welfare than a regulated mandatory GM-labeling policy, if...