Product Labeling and Economic Value of Milk Market Segmentation

Chakraborty, Kalyan

doi:10.1300/j047v18n01_02

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2011

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“…The other objective is to review the economic impact studies on product labeling for GM food around the world with a special focus on hormone induced milk production in the US. While there are very few studies analyzing economic impact of mandatory labeling of GM agricultural products, empirical studies on economic impact of labeling hormone induced milk are rare (Chakraborty, 2006).…”

Section: Introductionmentioning

confidence: 99%

Consumers’ Attitude and Product Labeling for GM Food in China and Hormone Induced Milk in the United States

Chakraborty¹

2011

IJEF

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This paper reviews some of the recent research findings on consumers' attitude and willingness to pay for genetically modified food (GM food) in China and hormone induced milk in the US. The economic impact studies on mandatory labeling for GM food around the world are also discussed. The general consensus from the impact studies in the literature is that it raises the price of the food products depending on the cost of labeling, labeling characteristics, and the structure of the market. Using survey data from the US consumers this study finds that mandatory labeling for hormone (bST) induced milk would increase the economic benefit to the society raising the consumer and producer surpluses and provides the right to choose in the hands of the consumers.

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Section: Introductionmentioning

confidence: 99%

Consumers’ Attitude and Product Labeling for GM Food in China and Hormone Induced Milk in the United States

Chakraborty¹

2011

IJEF

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Product Labeling and Economic Value of Milk Market Segmentation

Cited by 1 publication

References 23 publications

Consumers’ Attitude and Product Labeling for GM Food in China and Hormone Induced Milk in the United States

Consumers’ Attitude and Product Labeling for GM Food in China and Hormone Induced Milk in the United States

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