Willingness to Pay for Golden Rice in India: A Contingent Valuation Method Analysis
- Publication Type
- Journal contribution (peer reviewed)
- Authors
- Kajale, Dilip B.; Tilman Becker
- Year of publication
- 2015
- Published in
- Journal of Food Products Marketing
- Band/Volume
- Volume 21/Issue 4
- ISBN / ISSN / eISSN
- 1045-4446 (Print), 1540-4102 (Online)
- DOI
- 10.1080/10454446.2012.726946
- Page (from - to)
- 319-336
We estimated students’ willingness to pay for golden rice by using the double bounded contingent valuation method. We found that nearly 55% of the students are willing to buy golden rice at the same price of that conventional rice, and around 85% at certain discount. The estimated mean willingness to pay is a 4% price premium. Furthermore, we found that global (food security) and personal (health) benefit perceptions have a positive significant influence, risk perceptions and socio-demographic variables have an insignificant influence on willingness to pay for golden rice. Overall our findings indicate that India has a potential market for golden rice.