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Market and Welfare Effects of Second-Generation, Consumer-Oriented GM Products

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  • Konstantinos Giannakas
  • Amalia Yiannaka

Abstract

We examine the economic effects of the introduction of consumer-oriented genetically modified (GM) products into the food system by developing a model of heterogeneous consumers and producers that allows for vertical and horizontal differentiation between the products available to consumers. The model facilitates the estimation of consumer and producer surpluses in the product/utility and product/net returns spaces. Results show that the introduction of consumer-oriented GM products can change the relationship between GM and conventional and organic products from one of vertical to one of horizontal product differentiation and can enhance both economic welfare and the market acceptance and growth of agricultural biotechnology. Copyright 2008, Oxford University Press.

Suggested Citation

  • Konstantinos Giannakas & Amalia Yiannaka, 2008. "Market and Welfare Effects of Second-Generation, Consumer-Oriented GM Products," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 90(1), pages 152-171.
    • Handle: RePEc:oup:ajagec:v:90:y:2008:i:1:p:152-171
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    File URL: http://hdl.handle.net/10.1111/j.1467-8276.2007.01053.x
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    Citations

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    Cited by:

    1. Khachaturyan, Marianna & Yiannaka, Amalia, 2006. "The Market Acceptance and Welfare Impacts of Genetic Use Restriction Technologies (GURTs)," 2006 Annual meeting, July 23-26, Long Beach, CA 21329, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Karantininis, Kostas & Hajderllari, Eliona, 2015. "Extracting the Kyoto Rents: Nitrogen Efficient GMO Rice in China," 2015 Conference, August 9-14, 2015, Milan, Italy 211831, International Association of Agricultural Economists.
    3. McGinty Matthew & de Vries Frans P, 2009. "Technology Diffusion, Product Differentiation and Environmental Subsidies," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 9(1), pages 1-27, March.
    4. Awada, Lana & Yiannaka, Amalia, 2012. "Consumer perceptions and the effects of country of origin labeling on purchasing decisions and welfare," Food Policy, Elsevier, vol. 37(1), pages 21-30.
    5. Olivier Bonroy & Christos Constantatos, 2015. "On the Economics of Labels: How Their Introduction Affects the Functioning of Markets and the Welfare of All Participants," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 97(1), pages 239-259.
    6. Derek Eaton, 2013. "Innovation and IPRs in the Agricultural Seed Sector," CIES Research Paper series 19-2013, Centre for International Environmental Studies, The Graduate Institute.
    7. Tran, Van & Yiannaka, Amalia & Giannakas, Konstantinos, 2019. "An economic analysis of nanofood labeling," Journal of Policy Modeling, Elsevier, vol. 41(1), pages 1-20.
    8. Eaton, Derek, 2014. "A model of IPRs in the international supply chain of seeds and agricultural production," 2014 International Congress, August 26-29, 2014, Ljubljana, Slovenia 182643, European Association of Agricultural Economists.
    9. Manuel Thiel & Rainer Marggraf, 2009. "Gentechnik oder nicht Gentechnik - Bestimmungsgründe der Wahl von (nicht) gentechnisch veränderten Produkten," Journal of Socio-Economics in Agriculture (Until 2015: Yearbook of Socioeconomics in Agriculture), Swiss Society for Agricultural Economics and Rural Sociology, vol. 2(1), pages 35-58.
    10. Caputo, Vincenzina & Scarpa, Riccardo & Nayga, Rodolfo M. & Ortega, David L., 2018. "Are preferences for food quality attributes really normally distributed? An analysis using flexible mixing distributions," Journal of choice modelling, Elsevier, vol. 28(C), pages 10-27.
    11. Bchir, Mohamed Hedi & Bouet, Antoine, 2009. "Which tariff aggregator for trade modelers?," Conference papers 331888, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    12. Hu, Wuyang & Woods, Timothy & Bastin, Sandra & Cox, Linda & You, Wen, 2011. "Assessing Consumer Willingness to Pay for Value-Added Blueberry Products Using a Payment Card Survey," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 43(2), pages 243-258, May.
    13. Eaton, Derek, 2015. "Innovation and IPRs for Agricultural Crop Varieties as Intermediate Goods," 2015 Conference, August 9-14, 2015, Milan, Italy 211581, International Association of Agricultural Economists.
    14. Hajderllari, Eliona & Karantininis, Kostas, 2011. "Genetically modified foods in vertically differentiated and vertically oligopolistic markets," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114774, European Association of Agricultural Economists.
    15. repec:gbl:wpaper:2013-01 is not listed on IDEAS
    16. Rim Lassoued & Konstantinos Giannakas, 2010. "Economic Effects of the Consumer‐oriented Genetically Modified Products in Markets with a Labelling Regime," Journal of Agricultural Economics, Wiley Blackwell, vol. 61(3), pages 499-526, September.
    17. Britwum, Kofi & Yiannaka, Amalia, 2016. "Public Perceptions of Genetically Engineered Nutraceuticals," Cornhusker Economics 306949, University of Nebraska-Lincoln, Department of Agricultural Economics.
    18. Amrita Chatterjee & Arpita Ghose, 2016. "Consumer’s Acceptance towards Genetically Modified Crops and Growth of the Economy: A Theoretical Approach," Working Papers 2016-137, Madras School of Economics,Chennai,India.
    19. Costanigro, Marco & Scozzafava, Gabriele & Casini, Leonardo, 2017. "Vertical Differentiation, Perceptions Restructuring, And Wine Choices: The Case Of The Gran Selezione In Chianti Wines," Working Papers 253850, American Association of Wine Economists.
    20. Konstantinos Giannakas & Murray Fulton, 2020. "On the market for “Lemons”: quality provision in markets with asymmetric information," Palgrave Communications, Palgrave Macmillan, vol. 7(1), pages 1-6, December.

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