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This paper investigates the performance of the Quadratic Almost Ideal Demand System (QUAIDS) with and without accounting for the consistent two-step estimation for censoring of the dependent variable as well as the use of quality-...
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This paper investigates the performance of the Quadratic Almost Ideal Demand System (QUAIDS) with and without accounting for the consistent two-step estimation for censoring of the dependent variable as well as the use of quality-adjusted prices. The demand systems are estimated for a commodity that has a relatively low consumption level in the German market, fish. Thus, the zero observations are quite high and the need of a correction procedure is more urgent. The results show differences in the applied methods. It turns out that ignoring consistent two-step estimation and quality-adjusted prices leads to less elastic demand estimates.
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This article assesses farmers' willingness to participate in a stylised scheme supporting the adoption of slurry acidification techniques in livestock facilities. Slurry acidification is a novel technique, developed in Denmark, to...
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This article assesses farmers' willingness to participate in a stylised scheme supporting the adoption of slurry acidification techniques in livestock facilities. Slurry acidification is a novel technique, developed in Denmark, to reduce ammonia emissions. In a discrete choice survey of 129 German livestock farmers, the respondents were asked to choose among different support schemes and the status quo. The attributes presented in the choice sets were the expected emission reduction, the cost share on offer, a factor by which the additional nitrogen in acidified slurry must be accounted for in fertiliser plans, and concessions on current fertiliser regulations. A mixed logit model showed that the majority of respondents valued emission reductions, a higher cost share and concessions on the statutory requirements of the Fertiliser Ordinance. A latent-class model was applied to reveal preference heterogeneity. It identified three preference classes with different perceptions of the scheme's attributes.
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Artisanal fisheries are an important food source in many developing regions. Quantitative bio-economic models are needed that comprehensively assess artisanal fisheries' contribution to food security. Our model combines standard r...
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Artisanal fisheries are an important food source in many developing regions. Quantitative bio-economic models are needed that comprehensively assess artisanal fisheries' contribution to food security. Our model combines standard resource economics theory with the literature on food systems. It explains impacts of environmental variations and market development on output, prices and ultimately food security. The application to the Senegalese purse-seine fishery reveals that total sector rents account for 2% of per capita yearly food expenditures for the coastal inhabitants. We examine the relative importance of main drivers and the vulnerability of different regions. Market development plays a crucial role: The resource is of far greater relevance for remote regions.
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The Euro changeover distorted previously well-formed nominal price patterns. Food retailers may have reacted by adjusting prices to reintroduce psychological prices as before the Euro changeover. We employ a detailed data set of G...
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The Euro changeover distorted previously well-formed nominal price patterns. Food retailers may have reacted by adjusting prices to reintroduce psychological prices as before the Euro changeover. We employ a detailed data set of German food retail prices before and after the Euro changeover to test three different benchmarks indicating potential adjustments of prices. However, none of these benchmarks do adequately reflect the actual distribution of prices. We find that prices of signpost items follow best a conversion at the official rate. Also, signpost items show a slower price adjustment. Occasional goods' prices indicate a reestablishment of psychological price patterns, in particular for the ending digits; price distributions are adjusted faster. Further, price inflation is about zero for both goods, but prices in particular for signpost items have been significantly raised just before the Euro changeover. These different pricing patterns may be explained by consumer behavior. Consumers react more sensitive to price changes of frequently purchased goods (signpost items), and thus, retailers convert prices at the official rate and postpone price adjustments for these items after the Euro changeover. [JEL Classifications: D40, L66, Q13]. (C) 2015 Wiley Periodicals, Inc.
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The production of farmed fish is growing rapidly and presents a sustainable and possibly low-cost alternative to wild fish. Thus, we may expect retail prices of farmed to be lower than prices of wild fish and demand to be less ela...
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The production of farmed fish is growing rapidly and presents a sustainable and possibly low-cost alternative to wild fish. Thus, we may expect retail prices of farmed to be lower than prices of wild fish and demand to be less elastic. Otherwise, marketing of farmed fish may generate some extra value that justifies higher prices and may exhibit more elastic demand. To test these hypotheses, we employ monthly household scanner panel data for Germany from 2006 to 2010 for six frozen seafood products that include farmed and wild fish. A QUAIDS model is estimated by a consistent two-step procedure to account for censoring of the dependent variable. We find consumers to be price sensitive, particularly with regard to the high-value seafood species salmon and shrimp. This price elastic market implies that the German seafood industry still has the potential for growing revenues if production increases.
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This paper investigates the importance of different attributes, including farmed and wild caught, and non ecolabeled and ecolabeled, for turbot in the German market as well as consumers' willingness to pay for specific attributes....
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This paper investigates the importance of different attributes, including farmed and wild caught, and non ecolabeled and ecolabeled, for turbot in the German market as well as consumers' willingness to pay for specific attributes. The empirical analysis is based upon discrete choice experiments with 485 participants from northern Germany. A mixed logit estimation reveals a strong positive effect of ecolabeled seafood and the results indicate that respondents are willing to pay more for wild-caught fish than farmed fish. The analysis provides more interesting results: Consumers' attitude toward frozen fish is quite negative despite the fact that this is the best-selling processed form on the German fish market. Furthermore, socioeconomic characteristics have limited influence on the purchase decision of respondents. Providing information to the consumers enhances the effect of the product attributes and the resulting probability of purchase.
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The interdependence between alcohol and cigarette consumption has received little attention in the literature on consumer behavior, particularly in transition economies such as China. The available literature generally addresses t...
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The interdependence between alcohol and cigarette consumption has received little attention in the literature on consumer behavior, particularly in transition economies such as China. The available literature generally addresses the interdependence between alcohol and cigarette consumption by estimating demand systems; however, in our case data on price variation and price information for a specific consumer are limited. A structural equation model is applied as an alternative to estimate the interdependence between alcohol and cigarette consumption with the absence of price variation, using parental consumption patterns as instrumental variables for offspring's consumption behaviors. The empirical investigation is conducted by using a panel structure of the data from the China Health and Nutrition Survey (CHNS) over the period from 1993 to 2011. The results indicate that alcohol and cigarettes are complementary goods for men in China. When the demand for alcohol (cigarettes) increases, the demand for cigarettes (alcohol) will also increase, ceteris paribus. From a public health perspective, this implies that measures for reducing alcohol or cigarette consumption might have a double dividend effect on health.
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Fisheries management often fails because total allowable catches (TACs) are set at inefficiently high levels. To study why decision-makers choose such high TACs, we model the annual negotiation on TACs as a dynamic game in discret...
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Fisheries management often fails because total allowable catches (TACs) are set at inefficiently high levels. To study why decision-makers choose such high TACs, we model the annual negotiation on TACs as a dynamic game in discrete time. TACs are fixed by majority decision in a council consisting of decision-makers who are heterogeneous with respect to their discount rates. We show that the optimal feedback strategy for the less patient decision-makers will set inefficiently high TACs in Markov-perfect Nash equilibrium. A binding commitment to a long-term management plan could help solving this problem and lead to a more sustainable fishery management.
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In this study, we apply a hedonic pricing model to a unique data set of the German carbonated soft drink market. We distinguish between traditional brands and private label brands and include a variety of product attributes such a...
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In this study, we apply a hedonic pricing model to a unique data set of the German carbonated soft drink market. We distinguish between traditional brands and private label brands and include a variety of product attributes such as flavour, sugar content and bottle size in our analysis. Our results show that most traditional brands yield highest price premiums. However, organic niche products seem to be even more profitable. Also, unconventional flavours, small bottle sizes and retailing in supermarkets lead to higher price premiums. Private label brands are associated with highest negative price premiums.
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We study under which conditions a 'window of opportunity' for a change from an overfishing situation, with high fishing effort, but low stocks and catches, towards sustainable fishery management arises. Studying the Eastern Baltic...
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We study under which conditions a 'window of opportunity' for a change from an overfishing situation, with high fishing effort, but low stocks and catches, towards sustainable fishery management arises. Studying the Eastern Baltic cod fishery we show that at very low stock sizes (as they prevailed in the early 2000s) all interest groups involved in the fishery unanimously prefer maximum-sustainable-yield management (as prescribed by the management plan in place since 2007) over the previous overfishing situation. With increasing stock sizes, the present value of fishermen surplus would be higher when switching back to overfishing again, while other interest groups maintain their preference for sustainable fishery management.
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