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A model-based approach to moral hazard in food chains - What contribution do principal-agent-models make to the understanding of food risks induced by opportunistic behaviour? AgEcon
Hirschauer, Norbert.
Food risks may be caused by moral hazard, i.e. by opportunistic behaviour of upstream sellers who exploit the fact that many food product qualities remain uncertain to downstream buyers in the course of conventional market transactions (credence qualities). Due to this lack of market transparency buyers run the risk to pay premium prices for inferior products (quality risks); furthermore, they run the risk to use or consume substances which are harmful (health risks). Therefore, they will want to design optimal contracts and controls preventing opportunistic behaviour. Usually, however, buyers cannot contract contingent on the actions of upstream sellers because they cannot observe them directly (information asymmetry). Motivated by the obviously...
Tipo: Journal Article Palavras-chave: Food risk; Information asymmetry; Moral hazard; Opportunistic behaviour; Prevention; Principal-agent-model; Traceability; Agribusiness; Farm Management; Research Methods/ Statistical Methods; Risk and Uncertainty.
Ano: 2004 URL: http://purl.umn.edu/97448
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Coordenação do sistema da carne bovina no Reino Unido: implicações da rastreabilidade e da tecnologia de informação AgEcon
Machado, Rosa Teresa Moreira; Zylbersztajn, Decio.
This paper discusses the traceability concept in the food business. Based on the transaction costs economics, it describes the adoption of traceability mechanisms in the UK beef market and examines the effects on the governance mechanisms in the production and distribution chain. The basic hypothesis is that, in the absence of information technology (IT), strictly coordinated mechanisms will occur. As the use of IT spreads, a decrease in information asymmetry and, consequently, more flexible governance structures may be observed.
Tipo: Journal Article Palavras-chave: Information asymmetry; Information technology; Electronic identification; Beef chain coordination..
Ano: 2004 URL: http://purl.umn.edu/43672
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Evaluating the potential contribution of contract auctions to Agri-Environmental Policy efficiency: A simulation model for Emilia-Romagna (Italy) AgEcon
Viaggi, Davide; Raggi, Meri; Gallerani, Vittorio.
Auctions are a potentially suitable policy tool for increasing the efficiency of Agri- Environmental Schemes (AES) through an improved allocation of contracts. In theory, through the auction mechanism, farmers have incentives to reveal their compliance costs, helping to reduce information rents and increase policy cost-effectiveness. The aim of this paper is to simulate the potential contribution of auction mechanisms to the efficiency of AES in Emilia-Romagna (Italy). The results show advantages for auctions compared with traditional flat rate payments based on average compliance costs. However, their performance is worse than flat payments based on marginal compliance costs.
Tipo: Article Palavras-chave: Auction; Contract; Agri-Environmental Policy; Information asymmetry; Agricultural and Food Policy; Environmental Economics and Policy; Q15; Q18.
Ano: 2010 URL: http://purl.umn.edu/118671
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Improving the Quality of Women’s Gold in Mali, West Africa: The Case of Shea AgEcon
Perakis, Sonja Melissa.
The collection, primary processing, and subsequent sale of shea-based products make an important contribution to rural women’s cash income in many of Mali’s shea producing areas. Internationally, shea has recently become popular in high-valued cosmetics thanks to its therapeutic properties— a deviation away from its historic use as a cheap cocoa-butter substitute. For these reasons, international development actors have targeted the Malian shea value chain as part of their private-sector-development and rural-poverty-alleviation programs and strategies. Information asymmetry in the production and marketing of shea has led to a “Market for Lemons” scenario much like that described by Akerlof (1970), thereby compromising the subsector’s potential to serve as...
Tipo: Thesis or Dissertation Palavras-chave: Information asymmetry; Karité; Mali; Rural development; Shea; Women’s income; Agribusiness; Institutional and Behavioral Economics; International Development; Marketing; Q13; Q23; L15; L24; 013; O17.
Ano: 2009 URL: http://purl.umn.edu/51703
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INADIMPLÊNCIA NO CRÉDITO AGRÍCOLA – UMA APLICAÇÃO DO MODELO DE REGRESSÃO LOGÍSTICA AgEcon
Goncalves Junior, Carlos Alberto; Bernardino, Kleber Defenti; Alves, Alexandre Florindo; Parre, Jose Luiz.
O objetivo deste artigo é estudar as características dos tomadores e avaliar a possibilidade de prever a inadimplência para a carteira de crédito de uma cooperativa da região Noroeste do Paraná, com dados da safra 2006/2007. O perfil dos tomadores de crédito descrito no trabalho mostrou que os maiores percentuais de inadimplência estão na cultura da laranja e com contratos entre dez e cinqüenta mil reais, porém não apresenta uma característica padrão que permita considerar de antemão os tomadores como adimplentes ou inadimplentes. O modelo de regressão logística construído conseguiu prever de forma eficiente a inadimplência da carteira, porém também considerou inadimplente grande parte dos adimplentes. Isso torna sua utilização economicamente inviável, já...
Tipo: Conference Paper or Presentation Palavras-chave: Inadimplência; Regressão Logística; Assimetria de Informação; Crédito Rural; Default; Logistics regression; Information asymmetry; Rural credit; Agricultural Finance.
Ano: 2008 URL: http://purl.umn.edu/110012
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Modelling functional food choice and health care impacts: A literature review AgEcon
Zou, Ning Ning (Helen); Hobbs, Jill E..
The global market for functional foods is estimated to be worth about US$33 billion (Hilliam, 2000). Given the information asymmetry inherent in functional foods, labelling information plays a key role in allowing consumers to make informed choices. Understanding consumer choices with respect to functional foods is an important new area of research. Several potential consumer choice models are available to assess consumer choices for functional food. This paper provides an overview of key consumer research questions, and a review of several different models, including the Stated Preference Choice Model with Discrete Choice Analysis, Dependent Preference Model, and modified Protection Motivation Theory.
Tipo: Report Palavras-chave: Information asymmetry; Stated preference models; Protection motivation; Functional food; Food Consumption/Nutrition/Food Safety; Q13; I1; D12; D82.
Ano: 2006 URL: http://purl.umn.edu/91556
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Pandora’s Box: Does Electronic Commerce Increase the Optimal Amount of Fraud? AgEcon
Welling, Michael; Krebs, Alexander; Graefe, Gernot.
Close business relationships are important in the food industry. However, the introduction of electronic commerce has emerged as a fundamental challenge to these relationships. In particular, retailers who start procuring private label food products in electronic auctions risk the termination of the relationships with their suppliers thus losing the value derived from these relationships. Instead, they move their focal interest towards single, unrelated transactions. The authors argue that this development increases the optimal amount of fraud in electronic commerce. In this context, they analyze the occurrence of opportunism.
Tipo: Conference Paper or Presentation Palavras-chave: Relationships; Information asymmetry; Auctions; Opportunism; Economics of information; Marketing.
Ano: 2006 URL: http://purl.umn.edu/7762
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Partial Implementation of COOL: Economic Effects in the U.S. Seafood Industry AgEcon
Joseph, Siny; Lavoie, Nathalie; Caswell, Julie A..
Mandatory Country of Origin Labeling (MCOOL) was implemented on seafood in the United States on April 4, 2005. MCOOL exempts the foodservice sector and excludes processed seafood from labeling. This paper contributes to understanding the economics of the MCOOL law for seafood by showing that current partial implementation may have unintended consequences on the domestic supply chain. While labeling satisfies the market demand for information provision in one market, exemptions in the other market may create incentives for the diversion of imports, which are assumed to be lower in quality than domestic seafood, to the non-labeled sector. Analyzing alternate scenarios such as voluntary labeling shows that total welfare may be greatest under this scenario...
Tipo: Working or Discussion Paper Palavras-chave: Country of origin labeling; Product differentiation; Information asymmetry; Seafood; Agricultural and Food Policy; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Marketing; L15; L22; Q18.
Ano: 2009 URL: http://purl.umn.edu/55921
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Survey on Resistance Emotion of NCMS in Information Asymmetry and Countermeasures AgEcon
Zhao, Lu-gui; Chen, Lu-qing.
Through survey on current situation of NCMS construction in Guangxi, we analyze deep reasons for farmers' resistance to NCMS Major reasons include inadequate propaganda and training effort; narrow compensation scope influencing institutional functions; unreasonable reimbursement mechanism; low level of informatization management; imperfect supervision mechanism; and imperfect laws and regulations. In these situations, we put forward following countermeasures and suggestions: enhance training to ensure working efficiency; expand compensation scope to raise security level; adjust compensation standard to raise reimbursement proportion; lift level of informatization management to reduce costs for institutional operation; strengthen organizational construction...
Tipo: Article Palavras-chave: Information asymmetry; NCMS; Resistance emotion; Adjustment countermeasures; China; Agribusiness.
Ano: 2011 URL: http://purl.umn.edu/122944
Registros recuperados: 9
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