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The effect of information on consumer choice (the case of product with new properties)

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  • Fetisova, Yulia

Abstract

In the modern world very concentrated informational environment forms consumer preferences well before a potential buyer goes to the shop to make purchases. The production of new commodities triggers economic agents’ demand for objective information necessary for taking decisions about their safety or further use. This study uses economic experiment to investigate the effect of information about the product with new properties on behavior of the Russian consumers and proves that new information can alter individual perceptions and evoke response. It turns out that women are more receptive to any information concerning food products. The results also emphasize discrepancy between actual participants’ behavior and their initial estimates made in questionnaires.

Suggested Citation

  • Fetisova, Yulia, 2009. "The effect of information on consumer choice (the case of product with new properties)," 2009 Conference, August 16-22, 2009, Beijing, China 51364, International Association of Agricultural Economists.
    • Handle: RePEc:ags:iaae09:51364
    DOI: 10.22004/ag.econ.51364
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    1. Charles Noussair & StÈphane Robin & Bernard Ruffieux, 2004. "Do Consumers Really Refuse To Buy Genetically Modified Food?," Economic Journal, Royal Economic Society, vol. 114(492), pages 102-120, January.
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