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Auction of a candy bar, a deck of cards, and a box of pens
Step 4
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| bet | 5/14 | | Sana | 07.04.2020 | | Hajmi | 235,5 Kb. | | #10054 |
Auction of a candy bar, a deck of cards, and a box of pens
Step 4
Step 6
Pro-biotechnology
Anti-biotechnology
Step 5
Binding practice round and binding nth prices are revealed
Both Pro and Anti-biotechnology
 
Pro–biotechnology and third-party information
Anti–biotechnology and third-party information
Both Pro and Anti–biotechnology and third-party information
Step 7 Step 8
First round of bidding on food products
Second round of bidding on food products
Step 9 Step 10
Binding food round and binding nth prices are revealed
Post-Auction Questionnaire, winning people purchase goods
Figure 2: Labels used for the three food items
Russet Potatoes
Net weight 5 lb.
genetic modification (GM)
Russet Potatoes
Net weight 5 lb.
Tortilla Chips
Net weight 16 oz.
Fresh made Thursday April 5th
This product is made using
genetic modification (GM)
Tortilla Chips
Net weight 16 oz.
Fresh made Thursday April 5th
Vegetable Oil
Net weight 32 fl. oz.
This product is made using
genetically modified (GM) soybeans
Vegetable Oil
Net weight 32 fl. oz.
Figure 3: Information given to participants. Anti-biotechnology Information
The following is a collection of statements and information on genetic modification from Greenpeace, a leading environmental group.
General Information
Genetic modification is one of the most dangerous things being done to your food sources today. There are many reasons that genetically modified foods should be banned, mainly because unknown adverse effects could be catastrophic! Inadequate safety testing of GM plants, animals, and food products has occurred, so humans are the ones testing whether or not GM foods are safe. Consumers should not have to test new food products to ensure that they are safe.
Scientific Impact
The process of genetic modification takes genes from one organism and puts them into another. This process is very risky. The biggest potential hazard of genetically modified (GM) foods is the unknown. This is a relatively new technique, and no one can guarantee that consumers will not be harmed. Recently, many governments in Europe assured consumers that there would be no harm to consumers over mad-cow disease, but unfortunately, their claims were wrong. We do not want consumers to be harmed by GM food.
Human Impact
Genetically modified foods could pose major health problems. The potential exists for allergens to be transferred to a GM food product that no one would suspect. For example, if genes from a peanut were transferred into a tomato, and someone who is allergic to peanuts eats this new tomato, they could display a peanut allergy.
Another problem with genetically modified foods is a moral issue. These foods are taking genes from one living organism and transplanting them into another. Many people think it is morally wrong to mess around with life forms on such a fundamental level.
Financial Impact
GM foods are being pushed onto consumers by big businesses, which care only about their own profits and ignore possible negative side effects. These groups are actually patenting different life forms that they genetically modify, with plans to sell them in the future. Studies have also shown that GM crops may get lower yields than conventional crops.
Environmental Impact
Genetically modified foods could pose major environmental hazards. Sparse testing of GM plants for environmental impacts has occurred. One potential hazard could be the impact of GM crops on wildlife. One study showed that one type of GM plant killed Monarch butterflies.
Another potential environmental hazard could come from pests that begin to resist GM plants that were engineered to reduce chemical pesticide application. The harmful insects and other pests that get exposed to these crops could quickly develop tolerance and wipe out many of the potential advantages of GM pest resistance.
Figure 4: Information given to participants, pro-biotechnology information
The following is collection of statements and information on genetic modification provided by a group of leading biotechnology companies, including Monsanto and Syngenta.
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