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Understanding And Managing Consumer Risk Behavior

Author

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  • Pennings, Joost M.E.
  • van Ittersum, Koert

Abstract

We present a conceptual framework for policy makers to analyze consumer behavior in times of crisis. The framework provides policy makers and the agricultural industry with a tool to structure the discussion on how to communicate crises to consumers and serves as a basis for concrete marketing policy. The merits of this conceptualization are illustrated in a field study that examines the reactions of German, Dutch, and American consumers to the BSE (Mad Cow Disease) crisis.

Suggested Citation

  • Pennings, Joost M.E. & van Ittersum, Koert, 2004. "Understanding And Managing Consumer Risk Behavior," 2004 Annual meeting, August 1-4, Denver, CO 20163, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea04:20163
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    File URL: http://purl.umn.edu/20163
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    References listed on IDEAS

    as
    1. Joost M. E. Pennings, 2004. "Channel Contract Behavior: The Role of Risk Attitudes, Risk Perceptions, And Channel Members' Market Structures," The Journal of Business, University of Chicago Press, vol. 77(4), pages 697-724, October.
    2. Joost M.E. Pennings & Philip Garcia, 2001. "Measuring Producers' Risk Preferences: A Global Risk-Attitude Construct," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(4), pages 993-1009.
    3. John C. Hershey & Paul J. H. Schoemaker, 1985. "Probability Versus Certainty Equivalence Methods in Utility Measurement: Are they Equivalent?," Management Science, INFORMS, vol. 31(10), pages 1213-1231, October.
    4. Cargill, Thomas F & Rausser, Gordon C, 1975. "Temporal Price Behavior in Commodity Futures Markets," Journal of Finance, American Finance Association, vol. 30(4), pages 1043-1053, September.
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    Cited by:

    1. Schroeder, Ted C. & Tonsor, Glynn T. & Pennings, Joost M.E. & Mintert, James R., 2007. "The Role of Consumer Risk Perceptions and Attitudes in Cross Cultural Beef Consumption Changes," 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon 10254, Western Agricultural Economics Association.

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    Keywords

    Risk and Uncertainty;

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