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| Falconi, Cesar; Roe, Terry L.. |
| A model of expected utility maximization and a stochastic health production function are used to show how consumer's beliefs, the certainty of beliefs, and the presence of information affects demand for goods as they are driven by the demand for health. Then, it is shown that competitive markets fail to account for the health implications of substances in the production of a commodity that affects health, nor are incentives provided to inform consumers of substance concentrations and its implications to health. This result is shown to not necessarily follow in concentrated industries. Finally, conditions are derived whereby a benevolent government, in the absence of rent seeking, chooses optimal levels of information and taxes to attain Pareto optimal... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Health; Expected utility; Government intervention.; Food Consumption/Nutrition/Food Safety; Health Economics and Policy. |
| Ano: 1990 |
URL: http://purl.umn.edu/7456 |
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| Falconi, Cesar; Senauer, Benjamin. |
| This paper estimates a complete demand system for food for the United States using an extension of the Almost Ideal Demand System (AIDS) with household and aggregate data. The major purpose is to explore the implications of aggregation over consumers. Empirical evidence, based on data from the 1980-87 Continuing Consumer Expenditure Surveys, shows that the regression results and demand elasticities of the household and aggregate models and data can be very similar. Further results reveal factors which affect the similarity of the household and aggregate estimates. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Consumer/Household Economics; Demand and Price Analysis. |
| Ano: 1991 |
URL: http://purl.umn.edu/14021 |
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