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Análisis de la metodología de los puntos de corte para la identificación de las respuestas “inconsistentes” en los modelos de elección discreta 31
Colombo, Sergio; Hanley, Nick; Bush, Glenn.
En el método del experimento de elección se supone que el entrevistado es perfectamente racional, está informado y maximiza su utilidad siguiendo una regla de elección perfectamente compensatoria. Sin embargo, es posible que los individuos empleen otras reglas de decisión en sus elecciones para simplificar el esfuerzo cognitivo del ejercicio propuesto. En este trabajo se emplea la metodología de los valores de corte para incorporar en el experimento de elección reglas de decisión no compensatorias, y se amplia esta metodología para identificar respuestas inconsistentes. Los resultados indican que el empleo de los valores de corte mejora la capacidad descriptiva de los modelos de elección, y puede ser muy útil para la identificación de inconsistencias en la...
Tipo: Journal Article Palavras-chave: Experimento de elección; Inconsistencias en la elección; Puntos de corte.; Agricultural and Food Policy; Q5; D01.
Ano: 2009 URL: http://purl.umn.edu/57278
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Applying Experimental Economics to Obesity in the Family Household 31
Ehmke, Mariah D.; Warziniack, Travis; Schroeter, Christiane; Morgan, Kari.
The objective of this study is to identify experimental economic tools that can be employed to explain the role of economic behavior in overweight and obesity in the household. We identify three economic experiments that can be used to understand how parent-child economic relationships relate to obesity. Loss aversion experiments are discussed as a tool to understand challenges some individuals face in achieving a healthy diet. Finally, testbed experiments are introduced as a means to test and understand new policies and incentives for better health at the household level.
Tipo: Journal Article Palavras-chave: Carrot stick; Child obesity; Discount rate; Generosity; Loss aversion; Parent-child; Punishment; Trust; Agribusiness; Food Consumption/Nutrition/Food Safety; Research Methods/ Statistical Methods; I19; Q18; D01; D63.
Ano: 2008 URL: http://purl.umn.edu/47198
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Can Information Costs Affect Consumer Choice?—Nutritional Labels in a Supermarket Experiment— 31
Kiesel, Kristin; Villas-Boas, Sofia Berto.
This paper investigates whether information costs under currently regulated nutritional labeling prevent consumers from making healthier food choices. We implement five nutritional shelf label treatments in a market-level experiment. These labels reduce information costs by highlighting and summarizing information available on the Nutritional Facts Panel. Following a difference-in-differences and synthetic control method approach, we analyze weekly store-level scanner data for microwave popcorn purchases from treatment and control stores. Our results suggest that consumer purchases are affected by information costs. Implemented low calorie and no trans fat labels increase sales. In contrast, implemented low fat labels decrease sales, suggesting that...
Tipo: Conference Paper or Presentation Palavras-chave: Nutritional labeling; Information cost; Scanner data; Market-level experiment; Difference-in-differences; Synthetic control method; Agricultural and Food Policy; Consumer/Household Economics; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Food Security and Poverty; Health Economics and Policy; C93; D01; D18; D83; L51.
Ano: 2010 URL: http://purl.umn.edu/116433
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Climate Change and Tourism in Tuscany, Italy. What if heat becomes unbearable? 31
Cai, Mattia; Nunes, Paulo A.L.D.; Ferrise, Roberto; Moriondo, Marco; Bindi, Marco.
This paper investigates the empirical magnitude of climate conditions on tourist flows in Tuscany, exploring the use of a fine spatial scale analysis. In fact, we explore the use of an 8-year panel dataset of Tuscany’s 254 municipalities, examining how tourist inflows respond to variation in local weather conditions. In particular, as the area enjoys a fairly mild Mediterranean climate, our analysis focused on temperature extremes at key times of the tourist season, i.e., on maximum summer temperature and minimum winter temperature. Separate analyses are conducted for domestic and international tourists, so as to test the differences in the preferences among these distinct groups (or types of demand). Estimation results show the impact of climate change on...
Tipo: Working or Discussion Paper Palavras-chave: Domestic Tourists; International Tourists; Municipalities; Maximum And Minimum Daily Temperature; Dynamic Model; Temperature Demand Elasticity; GMM; Environmental Economics and Policy; C23; D01; L83.
Ano: 2011 URL: http://purl.umn.edu/115851
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Determinants of Meats Purchase Behavior by Ethnic Groups 31
Garcia-Jimenez, Carlos I.; Mishra, Ashok K..
Farmers and food companies need to assess their production and marketing strategies for nurturing business opportunities that will arise from the simultaneous increase in population and income of Hispanics in the United States. Previous studies on demand for meat products have not received much attention on the determinants of meats purchase behavior by Hispanics in relation to other ethnic groups. This study investigates the impact of ethnicity and the determinants of meats purchase behavior in the U.S. by using single Probit equations. The analyzed data comes from the U.S. Consumer Expenditure Survey. The results indicate that ethnicity plays an important role in the purchase behavior of meat products, as well as household size and income.
Tipo: Conference Paper or Presentation Palavras-chave: Consumer behavior; Marketing; Food demand; Hispanic food; Hispanic food market; Latin foods; Comida latina; Alimentos; Ethnic foods; Agribusiness; Consumer/Household Economics; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Industrial Organization; Marketing; D01; D03; D12; L14; L66; M31; M37.
Ano: 2010 URL: http://purl.umn.edu/61073
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Does Scarcity Exacerbate the Tragedy of the Commons? Evidence from Fishers’ Experimental Responses 31
Maldonado, Jorge Higinio; Moreno-Sanchez, Rocio del Pilar.
Economic Experimental Games (EEGs), focused to analyze dilemmas associated with the use of common pool resources, have shown that individuals make extraction decisions that deviate from the suboptimal Nash equilibrium. However, few studies have analyzed whether these deviations towards the social optimum are affected as the stock of resource changes. Performing EEG with local fishermen, we test the hypothesis that the behavior of participants differs under a situation of abundance versus one of scarcity. Our findings show that under a situation of scarcity, players over-extract a given resource, and thus make decisions above the Nash equilibrium; in doing so, they obtain less profit, mine the others-regarding interest, and exacerbate the tragedy of the...
Tipo: Working or Discussion Paper Palavras-chave: Tragedy of the commons intensified; Economic experimental games; Resource abundance; Resource scarcity; Dynamic effects; Community/Rural/Urban Development; Environmental Economics and Policy; Institutional and Behavioral Economics; Land Economics/Use; Public Economics; D01; D02; D03; O13; O54; Q01; Q22; C93; C72; C73; C23.
Ano: 2009 URL: http://purl.umn.edu/91170
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Efficiency under a Combination of Ordinal and Cardinal Information on Preferences 31
Athanassoglou, Stergios.
Replaced with a revised version of paper 10/05/11.
Tipo: Working or Discussion Paper Palavras-chave: Random Assignment; Efficiency; Duality; Linear Programming; Environmental Economics and Policy; C61; D01; D60.
Ano: 2011 URL: http://purl.umn.edu/101288
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HOW LARGE ARE NON-BUDGET-CONSTRAINT EFFECTS OF PRICES ON DEMAND? 31
Heffetz, Ori; Shayo, Moses.
Elementary consumer theory assumes that prices affect demand only because they affect the budget constraint (BC). By contrast, several models suggest that prices can affect demand through other channels (e.g. because they signal quality). This alternative conjecture is consistent with evidence from marketing studies. However, neither theory nor evidence is informative regarding the magnitude of non-BC effects. The key econometric challenge arises from the fact that a change in prices typically also changes the BC. This paper uses a lab and a field experiment to disentangle BC from non-BC effects of prices on demand. In our lab experiment we find that, consistent with marketing evidence, prices positively affect stated willingness to pay. However, when...
Tipo: Working or Discussion Paper Palavras-chave: Consumer behavior; Demand; Price; Quality signals; Experiments; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Marketing; D01; D12; D8; M31.
Ano: 2009 URL: http://purl.umn.edu/53882
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Incorporating Fairness Motives into the Impulse Balance Equilibrium and Quantal Response Equilibrium Concepts: An Application to 2x2 Games 31
Tavoni, Alessandro.
Substantial evidence has accumulated in recent empirical works on the limited ability of the Nash equilibrium to rationalize observed behavior in many classes of games played by experimental subjects. This realization has led to several attempts aimed at finding tractable equilibrium concepts which perform better empirically; one such example is the impulse balance equilibrium (Selten, Chmura, 2008), which introduces a psychological reference point to which players compare the available payoff allocations. This paper is concerned with advancing two new, empirically sound, concepts: equity-driven impulse balance equilibrium (EIBE) and equity-driven quantal response equilibrium (EQRE): both introduce a distributive reference point to the corresponding...
Tipo: Working or Discussion Paper Palavras-chave: Fairness; Inequity aversion; Aspiration level; Impulse balance; Quantal Response; Behavioral economics; Experimental economics; Institutional and Behavioral Economics; C72; C91; D01; D63.
Ano: 2009 URL: http://purl.umn.edu/50740
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Is population growth conducive to the sustainability of cooperation? 31
Stark, Oded; Jakubek, Marcin.
This paper asks whether population growth is conducive to the sustainability of cooperation. A simple model is developed in which farmers who live around a circular lake engage in trade with their adjacent neighbors. The payoffs from this activity are governed by a prisoner’s dilemma “rule of engagement.” Every farmer has one son when the population is not growing, or two sons when it is growing. In the former case, the son takes over the farm when his father dies. In the latter case, one son stays on his father’s farm, whereas the other son settles around another lake, along with the “other” sons of the other farmers. During his childhood, each son observes the strategies and the payoffs of his father and of the trading partners of his father, and...
Tipo: Working or Discussion Paper Palavras-chave: Population growth; Imitation; Sustainability of cooperation; Community/Rural/Urban Development; Farm Management; Institutional and Behavioral Economics; Land Economics/Use; Production Economics; Productivity Analysis; C72; D01; D83; J19; J62; R12; R23.
Ano: 2011 URL: http://purl.umn.edu/109965
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Market outlet choices in the context of changing demand for fresh meat: implications for smallholder inclusion in pork supply chain in Vietnam 31
Lapar, Ma. Lucila A.; Toan, Nguyen Ngoc; Que, Nguyen Ngoc; Jabbar, Mohammad A.; Tisdell, Clement A.; Staal, Steven J..
This paper reports on the findings of a study to investigate market outlet choice decision-making of urban consumers in Vietnam with regards to fresh pork purchases and generate empirical evidence on factors that influence these choices. Data from a survey of 600 consumers in Hanoi and Ho Chi Minh City was used to estimate a multinomial logit model of market outlet choice based on three alternatives: traditional temporary market outlets, permanent open markets, and modern retail outlets. Results suggest that market outlet choice by consumers of fresh pork in urban cities of Vietnam is conditioned by factors related to mobility and level of affluence, time budgets, concerns about food safety and hygiene, proximity to market outlets, and geographical...
Tipo: Conference Paper or Presentation Palavras-chave: Market outlet choice; Pork supply chain; Smallholders; Vietnam; Agricultural and Food Policy; Institutional and Behavioral Economics; Livestock Production/Industries; Marketing; D01; C25.
Ano: 2009 URL: http://purl.umn.edu/51437
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Old World Wines Revisited: Consumers' Valuation of Spanish and German Wines in the UK Wine Market 31
Steiner, Bodo E..
The mid 1990s was a pivotal period for the UK retail wine market, as New World Wines started to expand significantly at the expense of Old World Wines. This paper reviews supply and demand-side characteristics of the UK wine market during this period, and the underlying wine labeling scheme, before assessing how wines from Old World wine producing countries were valued by consumers in the British wine market. Following a more detailed discussion of econometric estimation issues, hedonic price analysis is applied in order to analyze consumers’ valuation of wine label attributes of Spanish and German wines sold in Britain in 1994.
Tipo: Working or Discussion Paper Palavras-chave: Wine labels; UK wine market; Hedonic price models; Spain; Germany; Agribusiness; Consumer/Household Economics; Demand and Price Analysis; Marketing; Q13; L66; D01.
Ano: 2009 URL: http://purl.umn.edu/91405
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Polarized Preferences In Homegrown Value Auctions 31
Hurley, Terrance M.; Yue, Chengyan; Anderson, Neil O..
Incentive compatible auction experiments, often referred to as homegrown value auctions, have become a popular tool for exploring how controversial product attributes and knowledge of these attributes affect consumer willingness to pay. A common observation in these experiments is a prevalence of zero bids and bimodal bid distributions. One possible explanation is that individuals have polarized preferences: find all products with a particular attribute desirable (positive polarization) or undesirable (negative polarization). The purpose of this paper is to explore three questions. Do polarized preferences exist? If they do exist, can they be identified? If they can be identified, does their identification provide useful information? To answer these...
Tipo: Conference Paper or Presentation Palavras-chave: Experiment; Auctions; Polarized Preferences; Invasive Plants; Homegrown Values; Demand and Price Analysis; Environmental Economics and Policy; Research Methods/ Statistical Methods; D01; C18; C19; Q13.
Ano: 2011 URL: http://purl.umn.edu/103596
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Public Response to Large-Scale Produce Contamination 31
Cuite, Cara L.; Hallman, William K..
Tipo: Journal Article Palavras-chave: Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; D12; D01; Q13.
Ano: 2009 URL: http://purl.umn.edu/94708
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Tying Odysseus to the Mast: Evidence from a Commitment Savings Product in the Philippines 31
Ashraf, Nava; Karlan, Dean S.; Yin, Wesley.
We designed a commitment savings product for a Philippine bank and implemented it using a randomized control methodology. The savings product was intended for individuals who want to commit now to restrict access to their savings, and who were sophisticated enough to engage in such a mechanism. We conducted a baseline survey on 1777 existing or former clients of a bank. One month later, we offered the commitment product to a randomly chosen subset of 710 clients; 202 (28.4 percent) accepted the offer and opened the account. In the baseline survey, we asked hypothetical time discounting questions. Women who exhibited a lower discount rate for future relative to current tradeoffs, and hence potentially have a preference for commitment, were indeed...
Tipo: Working or Discussion Paper Palavras-chave: Savings; Commitment; Hyperbolic preferences; Microfinance; Development economics; Program evaluation; Field experiment; Self-control; Financial Economics; C93; D01; D11; D12; D14; D81; D91; G11; O12.
Ano: 2005 URL: http://purl.umn.edu/28411
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Unpacking the Meaning of “Market Access” 31
Chamberlin, Jordan; Jayne, Thomas S..
Improving farmers’ access to markets is widely recognized as a major development challenge. A review of the literature suggests that indicators of market access may bear little relationship to the specific processes of interest and hence provide misguided evidence of the impacts of improved market access. This paper attempts to “unpack” the dimensions of market access and, in the process, uses farm survey data from Kenya to investigate changes in multiple indicators during the post-liberalization period. Findings show that market access conditions experienced by rural Kenyans exhibit considerable variation across time, space, and indicator type. We suggest ways in which structured hypothesizing and sensitivity analysis may strengthen empirical treatments...
Tipo: Working or Discussion Paper Palavras-chave: Market access; Remoteness; Smallholders; Africa; Kenya; Agricultural and Food Policy; Community/Rural/Urban Development; International Development; Marketing; Research Methods/ Statistical Methods; C81; D01; D63; D83; H41; H54; R58; L99.
Ano: 2011 URL: http://purl.umn.edu/110014
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Use of Coordination Fields in Food Economics 31
Toth, Jozsef.
The coordination plays central role in the economics. The conventional economic theory looks at the market and enterprise (or hierarchy) as two different, separated manner of coordination of economic goods and services. However the modern organization theory, price theory and institutional economics show that different types (not only market and enterprise, but also several types of hybrid forms) of coordination (or governance structure) necessarily live together in the current economic system. Based on my previous research on the field of regional clusters in the food industry I came to the conclusion that the cluster is one of the spheres where economic coordination can occur. At the same time I pointed out that the ways of coordination can be ordered...
Tipo: Conference Paper or Presentation Palavras-chave: Exchange; Coordination; Institutions; Governance structure; Agricultural and Food Policy; Institutional and Behavioral Economics; Political Economy; A11; D01; D02; L14.
Ano: 2010 URL: http://purl.umn.edu/90828
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Using Biomedical Technologies to Inform Economic Modeling: Challenges and Opportunities for Improving Analysis of Environmental Policies 31
Roe, Brian E.; Haab, Timothy C..
Advances in biomedical technology have irrevocably jarred open the black box of human decision making, offering social scientists the potential to validate, reject, refine and redefine the individual models of resource allocation that form the foundation of modern economics. In this paper we (1) provide a comprehensive overview of the biomedical methods that may be harnessed by economists and other social scientists to better understand the economic decision making process; (2) review research that utilizes these biomedical methods to illuminate fundamental aspects of the decision making process; and (3) summarize evidence from this literature concerning the basic tenants of neoclassical utility that are often invoked for positive welfare analysis of...
Tipo: Conference Paper or Presentation Palavras-chave: Neuroeconomics; Neuroscience; Brain imaging; Genetics; Welfare economics; Utility theory; Biology; Decision making; Preferences; Institutional and Behavioral Economics; Research Methods/ Statistical Methods; D01; D03; D6; D87.
Ano: 2009 URL: http://purl.umn.edu/49151
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What's Advertising Content Worth? Evidence from a Consumer Credit Marketing Field Experiment 31
Bertrand, Marianne; Karlan, Dean S.; Mullainathan, Sendhil; Shafir, Eldar; Zinman, Jonathan.
Firms spend billions of dollars each year advertising consumer products in order to influence demand. Much of these outlays are on the creative design of advertising content. Creative content often uses nuances of presentation and framing that have large effects on consumer decision making in laboratory studies. But there is little field evidence on the effect of advertising content as it compares in magnitude to the effect of price. We analyze a direct mail field experiment in South Africa implemented by a consumer lender that randomized creative content and loan price simultaneously. We find that content has significant effects on demand. There is also some evidence that the magnitude of content sensitivity is large relative to price sensitivity....
Tipo: Working or Discussion Paper Palavras-chave: Economics of advertising; Economics & psychology; Behavioral; Economics; Cues; Microfinance; Institutional and Behavioral Economics; Marketing; D01; M31; M37; C93; D12; D14; D21; D81; D91; O12.
Ano: 2009 URL: http://purl.umn.edu/47038
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What's Psychology Worth? A Field Experiment in the Consumer Credit Market 31
Bertrand, Marianne; Karlan, Dean S.; Mullainathan, Sendhil; Shafir, Eldar; Zinman, Jonathan.
Numerous laboratory studies report on behaviors inconsistent with rational economic models. How much do these inconsistencies matter in natural settings, when consumers make large, real decisions and have the opportunity to learn from experiences? We report on a field experiment designed to address this question. Incumbent clients of a lender in South Africa were sent letters offering them large, short-term loans at randomly chosen interest rates. Psychological “features” on the letter, which did not affect offer terms or economic content, were also independently randomized. Consistent with standard economics, the interest rate significantly affected loan take-up. Inconsistent with standard economics, the psychological features also significantly affected...
Tipo: Working or Discussion Paper Palavras-chave: Behavioral economics; Psychology; Microfinance; Marketing; Field experiment; Credit markets; Consumer/Household Economics; D01; C93; D12; D21; D81; D91; M37; O12.
Ano: 2005 URL: http://purl.umn.edu/28441
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