Food Fraud and Risk Perception: Awareness in Canada and Projected Trust on Risk-Mitigating Agents

During the past few years, food fraud has become a source of concern for consumers in many parts of the world. Major cases of food fraud have been found in Canada in recent months, including the Mucci case, in which Mexican tomatoes were sold as Canadian, as well as the case of a poultry farmer selling nonorganic chicken as organic. The authors aim to assess the level of awareness and trust among Canadian consumers in relation to fraudulent and counterfeit food products. This exploratory study is meant to establish latent determinants on consumers’ risk perception of food fraud in general. These determinants include education, income, geographical region, age, sex, and health-related predisposition such as food allergies and intolerances. To this end, a random survey was conducted across Canada in January 2017. A sample size of 1088 was used for this study. Findings indicate that older, more-educated consumers generally feel more vulnerable, to various degrees, than do other consumers. Consumers who are aware and have experienced food fraud previously are likely to trust other consumers as risk-mitigating agents more so than public regulators or industry. Several limitations are presented, and future research paths are suggested.     

The role of the media in disseminating insider-trading news

We use the process through which insider trading (SEC Form 4) filings are made public to investigate whether media coverage affects the way securities markets assimilate news. To do this, we use recent changes in disclosure rules governing insider trades as well as the initiation of coverage by Dow Jones to cleanly identify media effects. Using high-resolution intraday data, we find clear effects of media dissemination on the way prices and volume respond to insider trading news in the minutes after its release. These results help to resolve open questions regarding the role of the media in capital markets, including why apparently second hand news affects securities prices.     

Mortgages and Financial Expectations: A Household-Level Analysis

We contribute to the literature on household mortgage debt by exploring one particular influence on mortgage debt at the household level, namely the financial expectations of the individuals within the household. Our theoretical model predicts a positive association between the quantity of mortgage debt and optimistic financial expectations. Our empirical findings based on household level data provide convincing support for our theoretical priors in that optimistic financial expectations are positively associated with the level of outstanding mortgage debt.     

The effects of family structure and socialization influences on compulsive consumption: a life course study in France

Compulsive consumption is regarded as a global phenomenon that can adversely affect consumer well‐being. Although the topic has been studied in different cultural settings, we have seen relatively little theory development and explanations of compulsive behaviour. Nearly all previous empirical studies attempt to explain this behaviour by correlating measures of compulsive behaviour with independent variables taken within the same time frame. However, recent developments in social sciences suggest that such a phenomenon may best understood in the context of the person's earlier‐in‐life experiences. Using the life course paradigm as an overarching framework, the present research extends previous work on this topic. Hypotheses derived from life course perspectives are formulated, and a survey of young adults in France is used to test them. The findings have implications for theory development and suggest directions for further research.     

The new competition for land: Food,energy, and climate change

The paper addresses the new competition for land arising from growing and changing demand for food when combined with increasing global demand for transport energy, under conditions of declining petro-chemical resources and the urgent need to reduce greenhouse gas emissions. The paper starts from the premise of a ‘food, energy and environment trilemma’ (Tilman et al., 2009), where all demands to expand the area of cultivated land present high risks of increasing the carbon footprint of agriculture. Having reviewed the main drivers of demand for food and for liquid transport fuels, the paper weighs the controversies surrounding biofuels arising from food-price spikes, the demand for land, and consequent direct and indirect land-use change. It suggests that we need a more complex, and geographically differentiated, analysis of the interactions between direct and indirect land-use change. The paper then reviews evidence of land availability, and suggests that in addition to technical availability in terms of soil, water, and climate, political, social, and technological factors have significantly shaped the competition for land in different global regions, particularly the three major biofuel producing ones of the USA, Brazil and Europe. This point is further developed by reviewing the different innovation pathways for biofuels in these three regions. The main conclusion of this review is firstly that any analysis requires an integrated approach to the food-energy-environment trilemma, and secondly that strategic political direction of innovation and sustainability regulation are required to bring about major shifts in agriculture leading to sustainable intensification of cultivation (Royal Society, 2009), rather than the continued expansion of cultivated area. The consequent perspective is one of considerable global variety in technologies, agricultural productive systems, and use of natural resources. This contrasts sharply with the world of a dominant global and integrated technology platform based on petro-chemicals to which we have become accustomed.     

Art Museum Attendance, Public Funding, and the Business Cycle

There are a number of important problems in contemporary museum finance, and this article identifies yet another possible difficulty. An aggregate statistical measure of museum attendance is calculated in this research and the attendance measure is shown to be countercyclical in nature. When set against federal and other allocations to museums, which are clearly pro-cyclical in nature, an attendance "disease" may be at least tentatively identified. Efficiency criteria, of course, require that costs are covered in real time. We find, however, that, despite the likelihood that museum attendance is income-elastic and a normal good, attendance varies countercyclically with the business cycle. We suggest that one possible explanation for this phenomenon is that a positive substitution effect on demand outweighs the income effect on demand for museum attendance over the cycle. From a policymaking perspective, these results call for a longer range planning horizon, that is, one that includes the full business cycle rather than just the financial year, as is the current U.S. government practice.     

From admiration to abhorrence: the contentious appeal of entrepreneurship across Europe

Although entrepreneurship seems to offer a universal economic solution, there are some doubts about whether it is universally attractive. We argue that entrepreneurship is a socially constructed concept and consequently the meanings, and hence the appeal, of the enterprise will vary internationally. We argue that how entrepreneurship is understood affects how attractive it seems. Accordingly, we investigated the meanings of entrepreneurship by analysing a range of metaphors of entrepreneurship gathered from schools across Europe. We found that both the meaning and understandings of the practices vary considerably. For most, the concept of entrepreneurship as an engine of the economy is attractive, but for some, the practices of entrepreneurs were considerably less appealing. We find links between national socio-economic contexts and attractiveness. We argue that culture and context seem to influence the social constructions of entrepreneurship and hence the attractiveness of entrepreneurial options. We also find that the pedagogical national narratives of the entrepreneur stand in dynamic tension with the performative national processes of entrepreneurship.     

Social inequalities in injury risk in Wales,U.K.

Road traffic accident data in Nigeria generally lack exact coordinate information. Accident analysis is, therefore, restricted to aggregate data on trends, magnitude and temporal dimensions. This article addresses the road accident problem in Jos between 1995 and 1999 through a road profiling approach. Results show that four gateway routes, seven multilane roadways (including two gateway routes) and seven road intersections accounted for 84% of all traffic accidents, 84% of injured casualties and 88% of fatalities. This approach allows for quantification of impacts of controlling for accidents by deliberate profiling of roads for close monitoring and policing. For example, reducing accident counts and fatalities by 50% each on gateway routes will amount to ～35 and 40% reduction in accident and fatality counts, respectively. Countermeasures must consider these roadways and intersections as important inputs in their accidents and casualty reduction targets.     

Sources of Mistrust: An Experimental Case Study of a Central Asian Water Conflict

With the disintegration of the USSR a conflict arose between Kyrgyzstan, Uzbekistan and Kazakhstan over the transboundary Syr Darya river. Upstream Kyrgyzstan controls the Toktogul reservoir which generates hydropower demanded mainly in winter for heating. Downstream Uzbekistan and Kazakhstan need irrigation water in summer, primarily to grow an export crop (cotton). Regional agreements obliging Kyrgyzstan to higher summer discharges in exchange for fossil fuel transfers from downstream riparians in winter have been unsuccessful, due to lack of trust between the parties. Striving for self-sufficiency in irrigation water, Uzbekistan initiated new reservoir construction. This paper examines their economic impact. We report a laboratory experiment modelling the Syr Darya scenario as a multi-round, three-player trust game with non-binding contracts. Payoff schemes are estimated using real-life data. While basinwide efficiency maximisation requires regional cooperation, our results demonstrate that cooperation in the laboratory is hard to achieve. Uzbek reservoirs improve cooperation only weakly and their positive impact is limited to low-water years.