Article
Economics
Charles Bellemare, Sabine Kroger, Kouame Marius Sossou
Summary: This study estimates a structural model using experimental data to investigate investors' preferences regarding the frequency of portfolio evaluations, as well as how ambiguity and loss aversion interact. The findings indicate that 70% of investors prefer a high frequency of evaluations, highlighting the dominant effect of ambiguity aversion.
JOURNAL OF ECONOMETRICS
(2022)
Article
Fisheries
Bin Yuan, Yuhu Cui, Wei Liu, Wenqian Sheng, Hanxiao Xu, Lin Yang
Summary: This study measures customer preferences and willingness to pay for various oyster trait qualities, providing marketable information for oyster breeding. The research finds that customer preferences for oyster characteristics vary widely, with the highest willingness to pay for the shell size trait. Furthermore, consumer preferences for oyster trait attributes differ between low-market-value consumers and high-market-value consumers.
Article
Economics
Nico Lehmann, Daniel Sloot, Christopher Schuele, Armin Ardone, Wolf Fichtner
Summary: Germany has been expanding its renewable energy generation in response to climate change. The preference for regional electricity tariffs among household consumers remains uncertain, with little knowledge about the factors underlying these preferences. Using a choice experiment and data from customers of a municipal energy supplier in Southwest Germany, this study examines consumers' preferences for regional electricity and the role of environmental and regional motivations. The results show that, on average, regional generation is the second most important attribute after price, and consumer preferences are driven by regional rather than environmental motivations. Furthermore, preferences become more nuanced when respondents are assigned to distinct clusters, with above-average regional motivations supporting these preferences. The policy implications of these findings are discussed.
Article
Economics
David Ong
Summary: Research has shown that individuals can exhibit either choice-averse behavior or choice-loving behavior when faced with a variety of options. The number of purchases of unfamiliar products by consumers increases with the available number of varieties for popular product lines, but decreases for niche product lines.
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION
(2021)
Article
Economics
Nico Lehmann, Daniel Sloot, Armin Ardone, Wolf Fichtner
Summary: This study examined the preferences of German consumers regarding demand response (DR) programs, specifically quota schemes. The results showed that consumers' choices for quota scheme designs are mainly influenced by the time period of consumption restriction and financial compensation. Furthermore, the preferences shifted when consumers had the freedom to choose whether to participate or not, indicating that certain preferences for DR programs may not translate into willingness to participate. Additionally, sociodemographic characteristics had a limited influence on these preferences, with females, older individuals, and those purchasing green electricity showing slightly higher willingness to participate.
Article
Agriculture, Multidisciplinary
Hai-xia Wu, Yan Song, Le-Shan Yu, Yan Ge
Summary: Based on a field experiment using the microdata of 705 wheat farmers in the Loess Plateau, this study empirically investigates the impact of uncertainty on farmers' adoption of innovative seeds. The findings show that farmers tend to avoid ambiguity and risk. Higher levels of ambiguity aversion and risk aversion are associated with lower likelihood of adopting innovative wheat seeds, with risk aversion playing a dominant role. Improving information access helps mitigate the negative influence of ambiguity aversion, while interlinked insurance and credit contracts can alleviate the adverse effect of risk aversion. Heterogeneity analysis reveals that the inhibitory effects of ambiguity aversion and risk aversion on innovative seed adoption are more pronounced among farmers with lower education and household income. The government can establish guarantee mechanisms to help farmers cope with uncertainties and reduce their aversion, thus promoting the adoption of new agricultural technology.
JOURNAL OF INTEGRATIVE AGRICULTURE
(2023)
Article
Management
Soheil Ghili, Peter Klibanoff
Summary: This study examines preference conditions in choice under uncertainty and explores the relationship between monotonicity in optimal mixtures and ambiguity-sensitive behavior. It reveals an incompatibility between monotonicity in optimal mixtures and ambiguity aversion for certain classes of preferences exhibiting ambiguity-sensitive behavior. The research also shows that smooth ambiguity preferences can satisfy both properties as long as they are not too ambiguity averse.
MANAGEMENT SCIENCE
(2021)
Article
Food Science & Technology
Dahye Kim, Vincenzina Caputo, Valerie Kilders
Summary: Although consumers prefer novel plant-based seafood alternatives (PBSAs), the market share of these alternatives is still relatively small compared to conventional seafood. Consumers who choose to see the ingredient list tend to have a higher demand for PBSAs. The results of this study provide valuable information for stakeholders in designing targeted marketing strategies or policies.
FOOD QUALITY AND PREFERENCE
(2023)
Article
Food Science & Technology
Wen-Shin Huang, Hung-Yu Kuo, Shi-Yuan Tung, Han-Shen Chen
Summary: Reducing food waste is a global concern, with campaigns aiming to address this issue. Research on suboptimal food has gained attention, highlighting consumer preferences for freshness and appearance. Increasing awareness about suboptimal food and reducing waste are crucial for sustainable development.
Article
Economics
Yu Zhang
Summary: This study reveals a significant relationship between one's subjective beliefs on a natural event and her degree of ambiguity aversion. Individuals exhibiting a higher degree of ambiguity aversion tend to have lower expectations on future stock price growth rates and assign higher subjective probabilities on states representing negative growth.
Article
Psychology, Multidisciplinary
Ruifeng Liu, Fei Liang, Yan Heng, Zhifeng Gao, Heather Arielle Snell, Allan Rae, Hengyun Ma
Summary: This study used a discrete choice experiment to investigate consumers' preferences for Fuji apple product attributes and willingness to pay in six cities in China, finding preference heterogeneity among consumers and identifying three distinct classes of consumers with varying preferences for Fuji apples.
FRONTIERS IN PSYCHOLOGY
(2022)
Article
Economics
Andreas Hefti, Shuo Liu, Armin Schmutzler
Summary: Existing literature suggests that confusing consumers of homogeneous goods benefits firms, but this is not the case for differentiated goods and heterogeneous preferences. When taste distributions are polarized, firms choose to fully educate consumers instead. If firms still confuse consumers in this case, the welfare consequences are worse than for homogeneous goods because consumers choose dominated options. Similar findings are also applicable to political contests, where candidates compete for voters with heterogeneous preferences: parties only choose ambiguous platforms when preferences are "indecisive" and there is a concentration of indifferent voters.
Article
Nutrition & Dietetics
Min-Yen Chang, Chien-Cheng Huang, Ying-Chi Du, Han-Shen Chen
Summary: Previous studies on consumer yogurt preferences have focused on certain aspects such as added sugar, nutrient content, and health claims. However, this study identified a more comprehensive set of factors that influence consumer preferences and willingness-to-pay for yogurt products, including the number of probiotic types, type of milk source, presence of edible gels, and usage of health food labels.
Article
Green & Sustainable Science & Technology
Sandra Notaro, Elisabetta Lovera, Alessandro Paletto
Summary: Consumers are willing to pay more for products made of bioplastics, particularly those that are 100% wood-based, biodegradable in less than six months, and provide information on climate protection. Purchase intentions, subjective norm, control on perceived costs, climate impact, as well as demographic factors like gender, age, income, and education, influence consumer behavior towards bioplastic products.
JOURNAL OF CLEANER PRODUCTION
(2022)
Article
Food Science & Technology
Beixun Huang, Haijun Li, Zeying Huang, Jiazhang Huang, Junmao Sun
Summary: Excessive consumption of pork by Chinese residents increases the risk of obesity and related chronic diseases. Understanding consumers' preference for Front-of-Package (FOP) labeling on fresh pork is important for designing a labeling scheme that meets market demand and promotes moderate pork consumption. A study in China found that consumers prefer nutritional information in Chinese characters, a label size that takes up a quarter of the package surface, a green label color, and a label price that accounts for 10% of the retail price of standard fresh pork. These preferences vary among consumers based on their education levels and trust in labeling.
Article
Agricultural Economics & Policy
Thomas W. Sproul, Jaclyn D. Kropp
AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS
(2015)
Article
Multidisciplinary Sciences
Michael J. Weir, Catherine M. Ashcraft, Natallia Leuchanka Diessner, Bridie McGreavy, Emily Vogler, Todd Guilfoos
Article
Agricultural Economics & Policy
Michael J. Weir, Hirotsugu Uchida, Maya Vadiveloo
Summary: The study explores how consumer demand for seafood products is influenced by production process labels and information about GM technology. Consumers are willing to pay a premium for Non-GM and Organic fillets when not provided with GM information, while requiring a discount for Fed-GM and GM fillets. Positive information reduces willingness to pay for Organic and GM products, while negative information has the opposite effect on Organic fillets.
AQUACULTURE ECONOMICS & MANAGEMENT
(2021)
Article
Fisheries
Benjamin S. Halpern, Jason Maier, Heather J. Lahr, Gordon Blasco, Christopher Costello, Richard S. Cottrell, Olivier Deschenes, Danielle M. Ferraro, Halley E. Froehlich, Gavin G. McDonald, Katherine D. Millage, Michael J. Weir
Summary: Cell-based seafood is unlikely to result in fisheries recoveries and collateral ocean benefits, as the required steps are numerous and fragile, with the potential for failure at any point in the process.
FISH AND FISHERIES
(2021)
Article
Environmental Sciences
Corey Lang, Michael Weir, Shanna Pearson-Merkowitz
Summary: The study found that individuals' preferences for government policy are influenced by status quo bias, with a tendency to support existing carbon mitigation policies. Implementing carbon policies through the legislature rather than popular vote may lead to greater success.
ENVIRONMENTAL RESEARCH LETTERS
(2021)
Article
Marine & Freshwater Biology
Michael J. Weir, Melina Kourantidou, Di Jin
Summary: The recreational razor clam fishery is crucial for the Pacific Northwest region in terms of tourism-related income. However, the increasing frequency of harmful algal blooms has resulted in closures and delays of recreational shellfisheries, negatively impacting the fishery dependent communities. This study estimates the economic impacts of the cancellation of razor clam digs at Long Beach, WA, showing substantial revenue losses for local businesses.
Article
Environmental Studies
Tracey Dalton, Michael Weir, Aislyne Calianos, Nelle D'Aversa, Julia Livermore
Article
Economics
Karen A. Sullivan, Emi Uchida, Thomas W. Sproul, Jintao Xu
Article
Agricultural Economics & Policy
Clayton P. Michaud, Thomas W. Sproul
AGRICULTURAL AND RESOURCE ECONOMICS REVIEW
(2018)
Article
Agricultural Economics & Policy
Thomas Sproul, Clayton P. Michaud
AGRICULTURAL FINANCE REVIEW
(2017)
Article
Agricultural Economics & Policy
Thomas W. Sproul
AGRICULTURAL FINANCE REVIEW
(2016)
Article
Business
Stephen F. Hamilton, Thomas W. Sproul, David Sunding, David Zilberman
JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT
(2013)
Article
Agricultural Economics & Policy
Thomas W. Sproul, Jaclyn D. Kropp, Kyle D. Barr
AGRICULTURAL FINANCE REVIEW
(2015)