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Use of spike models in measuring consumers' willingness to pay for non-GM oil
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Use of spike models in measuring consumers' willingness to pay for non-GM oil
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Description
Title
Use
of
spike
models
in
measuring
consumers
'
willingness
to
pay
for
non-GM
oil
Authors
Hu W
Year
2006
DOI/WEB/URL
http://purl.umn.edu/43786
Link to Full-text
http://ageconsearch.umn.edu/bitstream/43786/2/Hu%20JAAE%20December%202006.pdf
Keywords
Agbiotech
Agricultural biotechnology
Asia
Beijing
China
Consumer analysis
Crop biotech
Developing countries
Genetically modified crops
GM crops
Impacts on Consumers
Journal
Journal
of
Agricultural
and
Applied
Economics
Volume
38
Issue
3
Start Page
525
End Page
538
Citation
Hu, W. 2006. Use of spike models in measuring consumers' willingness to pay for non-GM oil. Journal of Agricultural and Applied Economics 38 (3): 525-538.
Abstract
The
study
is
based
on a
survey
of
consumers
'
intentions
to
purchase
biotech
vegetable
oil
in
Beijing
,
conducted
in
2002-3
with
671
respondents
in
farmers
'
markets
and
supermarkets
.
Three
models
are
estimated
in
order
to
treat
the
endogeneity
of
purchase
and
payment
decisions
,
akin
to
two-stage
,
sample
selection
approach
. The
first
is the
conventional
binary
choice
model
that
does
not
separate
the
probability
of
purchase
from the
amount
the
consumer
is
willing
to
pay
and
does
not
account
for
zero
willingness
to
pay
. The
second
model
includes
two
equations
. The
first
specifies
demographic
and
attitudinal
variables
to
explain
the
probability
that a
consumer
chooses
to
purchase
the
product
, and the
second
includes
a
constant
and the
payment
card
variable
to
explain
payment
amounts
. The
third
model
recognizes
the
correlations
between
the
two
steps
:
whether
to
pay
a
positive
amount
for the
biotech
oil
, and if
positive
, how
much
. The
same
variables
are
used
in the
two
stages
except
for
product
price
. The
author
calls
this
approach
the
spike
WTP
model
with
covariates
.
Though
he
finds
the
statistical
results
to be
similar
between
the
spike
model
and the
conventional
binary
choice
model
,
suggesting
that there is
no
bias
created
by
ignoring
the
participation
decision
, the
spike
model
is
favored
by the
author
because
of its
treatment
of
non-participation
probabilities
.
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