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Using Biomedical Technologies to Inform Economic Modeling: Challenges and Opportunities for Improving Analysis of Environmental Policies AgEcon
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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Consumer Response to Controversial Food Technologies and Price: A Neuroeconomic Analysis AgEcon
McFadden, Brandon R.; Lusk, Jayson L.; Crespi, John M.; Cherry, J. Bradley C.; Martin, Laura E.; Bruce, Amanda S..
With new food technologies such as cloning or added artificial growth hormones, consumers face complex and conflicting information related to the quality, safety, nutrition, and ethical outcomes associated with food choices. Economics has partially addressed the challenge of predicting people’s choices and willingness-to-pay for new food technologies by using experimental methods, but thus far has offered little to explain why choices are made. The emerging field of neuroeconomics, which integrates the findings of economics, psychology, and neuroscience, can provide unique insights into consumer preferences. The purpose of this research is to enhance understanding of consumers’ preferences for new food technologies by capitalizing on recent developments...
Tipo: Presentation Palavras-chave: Controversial Food Technology; Animal Cloning; Artificial Growth Hormones; Neuroeconomics; Food Consumption/Nutrition/Food Safety; Institutional and Behavioral Economics; Research and Development/Tech Change/Emerging Technologies.
Ano: 2012 URL: http://purl.umn.edu/124071
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Effect of Advocacy Information on Consumer Preferences for Cage Free Eggs: A Neuroeconomic Analysis AgEcon
McFadden, Brandon R.; Lusk, Jayson L.; Crespi, John M.; Cherry, J. Bradley C.; Martin, Laura E.; Bruce, Amanda S..
Understanding how consumers respond to information about animal production systems is important both for animal activist groups and for agricultural producers alike. This is particularly true as information conveyed over platforms such as YouTube both decrease the cost of communication and increase the speed at which interested parties can communicate with the public. The emerging field of neuroeconomics, which integrates the findings of economics, psychology, and neuroscience, can provide unique insights into consumer responses. The purpose of this research is to enhance understanding of consumers’ perceptions of farm animal welfare by capitalizing on recent developments in economics and neuroscience.
Tipo: Presentation Palavras-chave: Animal Welfare; Video Information; Neuroeconomics; Institutional and Behavioral Economics; Marketing.
Ano: 2012 URL: http://purl.umn.edu/124048
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