Genetically Modified Foods: Consumer Issues and the Role of Information Asymmetry

Consumer attitudes towards genetically modified foods (GMFs) differ widely, particularly between North America and Europe. Information asymmetry, incomplete information and uncertainty arise as a result of concerns over GMFs. This paper explores the evolution of consumer attitudes towards genetically modijed foods in Europe and in North America and discusses a number of private market and public policy solutions to the problems of imperfect information and uncertainty. The paper concludes with suggestions for further research.