The relationship between risk attitudes and heuristics in search tasks: A laboratory experiment

Experimental studies of search behavior suggest that individuals stop searching earlier than the optimal, risk-neutral stopping rule predicts. Two different classes of decision rules could generate this behavior: rules that are optimal conditional on utility functions departing from risk neutrality, or heuristics derived from limited cognitive processing capacities and satisficing. To discriminate between these possibilities, we conducted an experiment that consists of a search task as well as a lottery task designed to elicit utility functions. We find that search heuristics are not related to measures of risk aversion, but to measures of loss aversion.     

Agricultural land use in the era of climate change: The challenge of finding ‘Fit for Purpose’ data

The paper examines drivers of change in agricultural land use in order to identify data requirements and assess data suitability. In order to assess the fitness for purpose of available data, the paper provides an overview of the sources of data for agriculture and land use in the UK, in both a contemporary and historical context. It provides a brief assessment of the state of scientific knowledge on the analysis of land use change, combined with a consideration of some of the possible advances promised by the new land use science.     

Baumol's Law and Verdoorn's Regularity

This paper tests the laws of Verdoorn and Baumol for the Netherlands in order to assess whether these laws provide an appropriate framework to interpret developments of output, employment, and wages and prices in the manufacturing industry and the services sector. The empirical evidence is not conclusive with respect to Verdoorn's law, but strongly supportive of Baumol's law.     

Local food,food miles and carbon emissions: A comparison of farm shop and mass distribution approaches

This paper provides a critical commentary on the conception of food miles followed by an empirical application of food miles to two contrasting food distribution systems based on carbon emissions accounting within these systems. The comparison is between the carbon emissions resultant from operating a large-scale vegetable box system and those from a supply system where the customer travels to a local farm shop. The study is based on fuel and energy use data collected from one of the UK’s largest suppliers of organic produce. The findings suggest that if a customer drives a round-trip distance of more than 6.7 km in order to purchase their organic vegetables, their carbon emissions are likely to be greater than the emissions from the system of cold storage, packing, transport to a regional hub and final transport to customer’s doorstep used by large-scale vegetable box suppliers. Consequently some of the ideas behind localism in the food sector may need to be revisited.