Risk, fear, bird flu and terrorists: A study of risk perceptions and economics
AbstractThis paper examines the relationship between risk perceptions, affect and the economic consequences of a bio-security threat against the U.S. food system. The main argument is that there exists a link between risk perceptions and economic behavior. The paper raises conjectures through a utility-theoretic economic model and examines these through two separate surveys, the first being a hypothetical agroterrorist attack and the second a hypothetical discovery of 'bird flu' in the United States. The results provide strong evidence that risk perception and fear can interact with consumption in an economically significant way.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).
Volume (Year): 39 (2010)
Issue (Month): 1 (January)
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/620175
Agroterrorism Avian influenza Bird flu Agricultural terrorism Consumer hysteresis Food safety Risk perceptions Economics and fear;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Blomberg, S. Brock & Hess, Gregory D. & Orphanides, Athanasios, 2004.
"The macroeconomic consequences of terrorism,"
Journal of Monetary Economics,
Elsevier, vol. 51(5), pages 1007-1032, July.
- Arrow, Kenneth J, 1982. "Risk Perception in Psychology and Economics," Economic Inquiry, Western Economic Association International, vol. 20(1), pages 1-9, January.
- Gocke, Matthias, 2002. " Various Concepts of Hysteresis Applied in Economics," Journal of Economic Surveys, Wiley Blackwell, vol. 16(2), pages 167-88, April.
- Julie A. Caswell & Eliza M. Mojduszka, 1996.
"Using Informational Labeling to Influence the Market for Quality in Food Products,"
American Journal of Agricultural Economics,
Agricultural and Applied Economics Association, vol. 78(5), pages 1248-1253.
- Caswell, Julie A. & Mojduszka, Eliza M., 1996. "Using Informational Labeling To Influence The Market For Quality In Food Products," Working Papers 25989, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance.
- Bocker, Andreas & Hanf, Claus-Hennig, 2000. "Confidence lost and -- partially -- regained: consumer response to food scares," Journal of Economic Behavior & Organization, Elsevier, vol. 43(4), pages 471-485, December.
- Donald Katzner, 1999. "Hysteresis and the Modeling of Economic Phenomena," Review of Political Economy, Taylor & Francis Journals, vol. 11(2), pages 171-181.
- Runge, C. Ford, 2002. "National Security And Bioterrorism: A U.S. Perspective," Working Papers 14384, University of Minnesota, Center for International Food and Agricultural Policy.
- Campos-Vazquez, Raymundo M. & Cuilty, Emilio, 2013.
"The Role of Emotions on Risk Aversion: A prospect theory experiment,"
48280, University Library of Munich, Germany.
- Raymundo M. Campos-Vazquez & Emilio Cuilty, 2013. "The role of emotions on risk aversion: a prospect theory experiment," Serie documentos de trabajo del Centro de Estudios EconÃ³micos 2013-05, El Colegio de México, Centro de Estudios Económicos.
- Rudisill, Caroline & Costa-Font, Joan & Mossialos, Elias, 2012. "Behavioral adjustment to avian flu in Europe during spring 2006: The roles of knowledge and proximity to risk," Social Science & Medicine, Elsevier, vol. 75(8), pages 1362-1371.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.