Title
Trust and willingness to pay for nanotechnology foodTrust and willingness to pay for nanotechnology food
Author
Faculty/Department
Faculty of Social Sciences. Sociology
Research group
Centre on Inequality, Poverty, Social Exclusion and the City
Publication type
article
Publication
London,
Subject
Economics
Biology
Pharmacology. Therapy
Human medicine
Source (journal)
Food policy: economics, planning and politics of food agriculture. - London
Volume/pages
52(2015), p. 75-83
ISSN
0306-9192
ISI
000353737300009
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
We analyze the role of trust in the evaluation of a new food technology, namely nanotechnology. A literature review in the social and economic sciences reveals that many different trust concepts are available. The economics literature suggests that trust can lead to lower efforts of self-protecting behavior. Translating this concept into the framework of willingness to pay (WTP) for food products allows for the derivation of hypotheses on the workings of trust. We show that WTP for new food characteristics increases with trust also when new information about the technology is revealed. The results are confirmed with online survey data for Canada and Germany and experimental data in Germany. (C) 2014 Elsevier Ltd. All rights reserved.
E-info
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https://repository.uantwerpen.be/docman/iruaauth/b61cd2/0f5126025.pdf
Handle