do voluntary biotech labels matter evidence from the fluid milk market by kristin kiesel david buschena and vincent smith november 20 2003 abstract this paper models assesses effects on demand of labeling for use genetically modified growth hormone retail using supermarket scanner data is interest because 1 it tracks one first products approved 2 fairly standardized ubiquitous 3 enables cross sectional differentiation between labeled unlabeled conventional organic brands hypothesis that free increase consumers willingness to pay supported these estimated are both statistically economically significant appear over time keywords random utility search introduction innovations through biotechnology enable agricultural producers reduce production costs or enhance product quality many livestock crop commodities at same however may affect utilize those
