Risk Perceptions, Risk Preference, and Acceptance of Risky Food

Posted: 17 Dec 2005

See all articles by Jayson L. Lusk

Jayson L. Lusk

Oklahoma State University - Department of Agricultural Economics

Keith H. Coble

Mississippi State University - Department of Agricultural Economics

Abstract

Consumers' risk preferences are often overlooked in studies of consumer demand for risky food. We find that risk preferences elicited through context-less lottery choices are significantly related to consumers' stated preferences for genetically modified (GM) food. These results suggest risk preferences elicited in the laboratory are not artificial in the sense that they appear to be related to the same risk preferences that govern other individual decisions such as food choice. Consistent with theoretical expectations, risk perceptions and risk preferences were found to be significant determinants of acceptance of GM food, which has important implications for explaining consumer behavior.

Suggested Citation

Lusk, Jayson L. and Coble, Keith H., Risk Perceptions, Risk Preference, and Acceptance of Risky Food. American Journal of Agricultural Economics, Vol. 87, No. 2, pp. 393-405, May 2005. Available at SSRN: https://ssrn.com/abstract=856500 or http://dx.doi.org/10.1111/j.1467-8276.2005.00730.x

Jayson L. Lusk (Contact Author)

Oklahoma State University - Department of Agricultural Economics ( email )

Stillwater, OK 74078-6026
United States
405-744-6161 (Phone)

Keith H. Coble

Mississippi State University - Department of Agricultural Economics ( email )

Box 5187
Mississippi State, MS 39762
United States

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