Journal
EUROPEAN REVIEW OF AGRICULTURAL ECONOMICS
Volume 46, Issue 5, Pages 769-799Publisher
OXFORD UNIV PRESS
DOI: 10.1093/erae/jby038
Keywords
subjective probabilistic beliefs; non-standard expected utility theories; discrete choice experiments; food-safety policy lotteries; welfare measure
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Funding
- Autonomous Province of Trento, project ENVIROCHANGE
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Outcomes of food policies are highly uncertain. Therefore, the public's support for these policies depends on individuals' beliefs and the provision of scientific information. Using data collected from a discrete choice experiment survey, we explore whether new information regarding a food-safety policy influences respondents' support, while controlling for risk and time preferences. Additionally, we examine if support depends on whether information is perceived as either good or bad news. Results from the estimation of parametric error component logit models, based on expected utility theory and rank dependent utility theory, suggest that good and bad news affects preferences and welfare measures.
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