世界経済・社会統計 = World development indicators

Co-Planar Stereotaxic Atlas of the Human Brain—3-Dimensional Proportional System: An Approach to Cerebral Imaging, J. Talairach, P. Tournoux. Georg Thieme Verlag, New York (1988), 122 pp., 130 figs. DM 268

计量经济分析 = Econometric analysis

In 1974 an article appeared in Science magazine with the dry-sounding title “Judgment Under Uncertainty: Heuristics and Biases” by a pair of psychologists who were not well known outside their discipline of decision theory. In it Amos Tversky and Daniel Kahneman introduced the world to Prospect Theory, which mapped out how humans actually behave when faced with decisions about gains and losses, in contrast to how economists assumed that people behave. Prospect Theory turned Economics on its head by demonstrating through a series of ingenious experiments that people are much more concerned with losses than they are with gains, and that framing a choice from one perspective or the other will result in decisions that are exactly the opposite of each other, even if the outcomes are monetarily the same. Prospect Theory led cognitive psychology in a new direction that began to uncover other human biases in thinking that are probably not learned but are part of our brain’s wiring.

Thinking fast and slow.

The author systematically examines one of the important issues of information — establishing the market price. He introduces the concept of «search» — where a buyer wanting to get a better price, is forced to question sellers. The article deals with various aspects of finding the necessary information.

Economics of Information

Value elicitation in retail and laboratory environments

Preferences for environmental quality under uncertainty

This study estimates the value of policies that would mandate labeling of beef from cattle produced with growth hormones or fed genetically modified corn. At no cost, 85 percent of respondents desired mandatory labeling of beef produced with growth hormones and 64 percent of respondents preferred mandatory labeling of beef fed genetically modified corn. Estimates suggest that consumers would be willing to pay 17.0 percent and 10.6 percent higher prices for beef on average to obtain information provided via mandatory labeling about whether the beef is from cattle produced with growth hormones or fed genetically modified corn, respectively.

/pdf/consumer-demand-for-mandatory-labeling-of-beef-from-cattle-3ynxuvoq4y.pdf

Consumer demand for mandatory labeling of beef from cattle administered growth hormones or fed genetically modified corn

This study evaluates the economic consequences of hypothetical foot-and-mouth disease releases from the future National Bio and Agro Defense Facility in Manhattan, Kansas. Using an economic framework that estimates the impacts to agricultural firms and consumers, quantifies costs to non-agricultural activities in the epidemiologically impacted region, and assesses costs of response to the government, we find the distribution of economic impacts to be very significant. Furthermore, agricultural firms and consumers bear most of the impacts followed by the government and the regional non-agricultural firms.

/pdf/economic-assessment-of-fmdv-releases-from-the-national-bio-3n2tr087a2.pdf

Economic Assessment of FMDv Releases from the National Bio and Agro Defense Facility

In the past two decades, there has been an explosion of studies eliciting consumer willingness-to-pay for food attributes; however, this work has largely refrained from drawing a distinction between preferences for health, safety and quality on the one hand and consumers’ subjective beliefs that the products studied possess these attributes, on the other Using data from three experimental studies, along with structural economic models, we show that controlling for subjective beliefs can substantively alter the interpretation of results and the ultimate implications derived from a study The results suggest the need to measure subjective beliefs in studies of consumer choice and to utilise the measures when making policy and marketing recommendations

/pdf/distinguishing-beliefs-from-preferences-in-food-choice-55z68tlb8o.pdf

Jayson L. Lusk

Papers

Value elicitation in retail and laboratory environments

Preferences for environmental quality under uncertainty

Consumer demand for mandatory labeling of beef from cattle administered growth hormones or fed genetically modified corn

Economic Assessment of FMDv Releases from the National Bio and Agro Defense Facility

Distinguishing beliefs from preferences in food choice