Willingness to Pay for Golden Rice in India: A Contingent Valuation Method Analysis |
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| Authors: | Dilip B Kajale Tilman C Becker |
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| Institution: | 1. Institute of Agricultural Policy and Agricultural Markets, University of Hohenheim, Stuttgart, Germanykajaledilip27@gmail.com;3. Institute of Agricultural Policy and Agricultural Markets, University of Hohenheim, Stuttgart, Germany |
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| Abstract: | 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 as that of conventional rice, and around 85% at a 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, and risk perceptions and sociodemographic 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. |
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| Keywords: | willingness to pay double-bounded contingent valuation method golden rice risk benefit perceptions |
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