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Response to an Asymmetric Demand for Attributes: An Application to the Market for Genetically Modified Crops AgEcon
Lence, Sergio H.; Hayes, Dermot J..
A framework is developed for examining the price and welfare effects of the introduction of genetically modified (GM) crops. In the short run, non-GM grain generally becomes another niche product. However, more profound market effects are observed under some reasonable parameterizations. In the long run, consumer and producer welfare are usually greater after the introduction of GM technology. Nevertheless, in all instances some consumers and some producers lose. When identity preservation is expensive and cost savings are relatively small, both producer and consumer welfare are lower after introducing GM technology. Interestingly, this outcome is obtained even though all agents are individually rational.
Tipo: Working or Discussion Paper Palavras-chave: Asymmetric demand; Consumer response; Genetically modified (GM) crops; Market response; Non-GM crops; Price signals; Welfare analysis; Marketing; Research and Development/Tech Change/Emerging Technologies.
Ano: 2001 URL: http://purl.umn.edu/18699
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Food Risk Communication and Consumers' Trust in the Food Supply Chain AgEcon
Hanf, C.-Hennig; Patelli, P.; Saggau, Volker.
Our motivation is lying on the questions "How does a food scare and information of a food scare influence the buying decision of one single agent and the changes in the aggregate demand?" and "How can we evaluate effective risk communication strategies?". Since we investigate a society of consumers which do have their own decision functions, we can observe how new information could influence the behaviour of each consumer and more interesting the aggregate changes in the demand by creating a population of agents. This multi agent simulation can be used to investigate how different information releases and decision functions influence the aggregate demand. The agents get information from the networks in which they are present. Then this information will be...
Tipo: Conference Paper or Presentation Palavras-chave: Multi-agent simulation; Consumer response; Information diffusion; Risk communication; Consumer/Household Economics.
Ano: 2005 URL: http://purl.umn.edu/24502
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Offsetting Behavior: Consumers' Response to Food Safety Policies AgEcon
Miljkovic, Dragan; Nganje, William E.; Ndembe, Elvis.
Tipo: Journal Article Palavras-chave: Food safety policies; Consumer response; Offsetting behavior; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Q18; I18.
Ano: 2008 URL: http://purl.umn.edu/94677
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