Transparency in the food aisle: the influence of procedural justice on views about labeling GM foods

Issues of transparency lay at the center of the debate surrounding the labeling of genetically modified (GM) food products in the USA. These issues include not only the argument that consumers should be allowed to make purchasing choices based on full disclosure of product ingredients but also that they should have access to the process that makes decisions about labeling. This study examines the influence of procedural justice on perceived decision legitimacy and decision support regarding GM food labeling decisions. Using a 2 × 2 factorial design, participants recruited from an online Qualtrics panel (N = 450) were randomly assigned to read a fictitious news article about an agricultural company’s decision about whether to label their food products as having GM ingredients. Articles varied by the company’s labeling decision (label versus no label) and whether the company listened to public input prior to making the decision (public input versus no public input). The results showed significant main effects on decision support and perceived legitimacy for articles that mentioned public input. Specifically, when participants read articles stating that the company made its decision after listening to public input, they were more supportive of the decision and perceived the decision as more legitimate. Moreover, this main effect occurred irrespective of whether or not the company’s decision was to label GM foods. Our results confirm the influence of procedural justice perceptions in fostering support and perceived legitimacy for controversial risk-related decisions.     

Contagion from the crises in the Euro-zone: where,when and why?

The prevalence of contagion between the Euro-zone countries and other European countries since the Greek crisis of 2009 is now well – known, but the factors that influence the pattern of this contagion are not well understood. We investigate this question both within Europe and beyond to the USA and Japan, using an asymmetric M-GARCH model that focuses on extreme values of the risk premia on government bonds. We compare these extreme values with news of major events and find that they are highly correlated. We find a different pattern of contagion emanating from Ireland compared to the other crisis countries of Greece, Italy, Portugal and Spain. We also examine the factors that have made countries vulnerable to contagion and find that financial factors are more important than trade ones. However, intra-Euro-zone trade has also been a significant factor between the major Euro-zone economies. There is little evidence that global factors affect contagion between EU member states, but some evidence that nominal exchange rate movements offer a degree of insulation from contagion for the non-Euro zone states.     

On the Measurement of Strength of Preference in Units of Money

We report an experimental study that aims to elicit monetary measures of strength of preference in choices involving pairs of risky prospects. Despite extensive testing to refine the instruments used, we find that these money measures are systematically biased upwards relative to subsequent binary choices. We discuss possible reasons for this bias and its broader implications.     

Investigating the failure to best respond in experimental games

Experimental Economics - We examine strategic sophistication using eight two-person 3?×?3 one-shot games. To facilitate strategic thinking, we design a ‘structured’...     

An inspector calls: farm accommodation providers' attitudes to quality assurance schemes in the county of Devon

Estimates suggest that 10 000 farms in the UK offer bed and breakfast (B and B) serviced accommodation. A thorough review of the existing literature indicates over 50% of Devon and Cornwall's farmhouse B and B sector operate without participating in any form of quality assurance inspection scheme. This research executes a stratified postal survey to gain a comprehensive understanding of Devon's farmhouse B and B product, with particular interest in extracting providers' attitudes towards quality assurance inspection schemes. The very representative results suggest a divergence of attitudes towards the notion of quality inspections for all farmhouse B and B providers. Copyright © 2002 John Wiley & Sons, Ltd.     

The economics of drought: A review of impacts and costs

Although a growing body of literature studies drought impacts, papers providing a comprehensive review of drought's social and economic impacts are scarce. This paper fills this gap by exploring the consequences of drought on societies based on research findings in Australia—a large country used to experiencing severe droughts. To do this, we propose a framework to categorise drought impacts in three dimensions: individuals/households (including health), productive sectors and system (including economic and ecosystem) impacts. The framework then guides a systematic literature review and discussion of studies looking at diverse drought impacts and their related costs. By analysing and discussing the findings from this literature, we emphasise different policy considerations, empirical challenges and research needs to support robust analysis and estimates of the true cost of droughts. We conclude by proposing an expanded framework to identify drought impacts and a discussion of the implications of the review for policy development.