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Provedor de dados:  AgEcon
País:  United States
Título:  Consumer and Market Responses to Mad-Cow Disease
Autores:  Schlenker, Wolfram
Villas-Boas, Sofia Berto
Data:  2008-02-28
Ano:  2006
Palavras-chave:  Food safety
Mad cow diseases
Consumer expenditure survey
Scanner data
Futures prices
Consumer/Household Economics
Food Consumption/Nutrition/Food Safety
Livestock Production/Industries
Resumo:  We examine how consumers and financial markets in the United States react to two health warnings about mad cow disease: The first discovery of an infected cow in December 2003 as well as health warnings about the potential effects aired in the highly-watched Oprah- Winfrey show seven years earlier. Using a unique UPC-level scanner data set, we find a pronounced and significant reduction in beef sales following the first discovered infection. This effect slowly dissipates over the next three months. Interestingly, no significant impact can be detected in the diary files of the Consumer Expenditure Survey (CES) that has a much smaller sampling frame. However, futures prices show a comparable drop in prices to the scanner data. Contracts with longer maturity show smaller drops, suggesting that the market anticipated the impact to be transitory. Health warnings by Oprah-Winfrey reduced futures prices by more than 50% of the abnormal changes following the first discovered infection, but the effect was shorter-lived. While the CES should give accurate estimates of average purchasing decisions in a calendar year, researchers may consider instead turning to readily available scanner or futures data to track changes in buying habits over time.
Tipo:  Working or Discussion Paper
Idioma:  Inglês
Identificador:  28455
Relação:  University of California, Berkeley>Department of Agricultural and Resource Economics>CUDARE Working Papers
CUDARE Working Paper
Formato:  32

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