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Behavioral Economics in EU: Meat, ESG, Macroeconomics

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  • Panagiotis Karountzos

    (BICTEVAC Laboratory—Business Information and Communication Technologies in Value Chains Laboratory, Department of Agribusiness and Supply Chain Management, School of Applied Economics and Social Sciences, Agricultural University of Athens, 118 55 Athens, Greece)

  • Nikolaos T. Giannakopoulos

    (BICTEVAC Laboratory—Business Information and Communication Technologies in Value Chains Laboratory, Department of Agribusiness and Supply Chain Management, School of Applied Economics and Social Sciences, Agricultural University of Athens, 118 55 Athens, Greece)

  • Damianos P. Sakas

    (BICTEVAC Laboratory—Business Information and Communication Technologies in Value Chains Laboratory, Department of Agribusiness and Supply Chain Management, School of Applied Economics and Social Sciences, Agricultural University of Athens, 118 55 Athens, Greece)

  • Kanellos Toudas

    (BICTEVAC Laboratory—Business Information and Communication Technologies in Value Chains Laboratory, Department of Agribusiness and Supply Chain Management, School of Applied Economics and Social Sciences, Agricultural University of Athens, 118 55 Athens, Greece)

Abstract

This study examines the impact of macroeconomic and ESG (Environmental, Social, and Governance) factors on meat consumption in EU countries through a behavioral economics framework. Using panel data from 27 EU countries (2000–2021), the analysis applies Fixed Effects (FE), Random Effects (RE), and Generalized Estimating Equations (GEE) models to identify key drivers of meat consumption. The results reveal that GDP PPP (purchasing power parity) per capita, livestock availability, and methane emissions have a significant positive impact on meat consumption, reflecting the role of economic prosperity and agricultural production in dietary choices. In contrast, unemployment and inflation negatively influence meat consumption, highlighting the importance of economic stability. The GEE model, which corrects for autocorrelation, confirms that methane emissions and GDP PPP per capita remain significant predictors, suggesting that economic growth and environmental impact are critical determinants of dietary behavior. These findings underscore the complex interplay between economic development, sustainability, and consumer behavior, providing valuable insights for policymakers aiming to balance economic growth with environmental goals in the EU.

Suggested Citation

  • Panagiotis Karountzos & Nikolaos T. Giannakopoulos & Damianos P. Sakas & Kanellos Toudas, 2025. "Behavioral Economics in EU: Meat, ESG, Macroeconomics," Economies, MDPI, vol. 13(6), pages 1-39, May.
    • Handle: RePEc:gam:jecomi:v:13:y:2025:i:6:p:146-:d:1661691
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    References listed on IDEAS

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    3. Maria Mercè Clop-Gallart & María Isabel Juárez & Montserrat Viladrich-Grau, 2021. "Has the euro been fattening the European pig meat trade?," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 67(12), pages 500-510.
    4. Stephen Ivan aan den Toorn & Ernst Worrell & Machteld A. van den Broek, 2020. "Meat, dairy, and more: Analysis of material, energy, and greenhouse gas flows of the meat and dairy supply chains in the EU28 for 2016," Journal of Industrial Ecology, Yale University, vol. 24(3), pages 601-614, June.
    5. Laffan, Kate, 2024. "Context counts: an exploration of the situational correlates of meat consumption in three Western European countries," LSE Research Online Documents on Economics 123009, London School of Economics and Political Science, LSE Library.
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