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Consumer Welfare and the Loss Induced by Withheld Information: The Case of BSE in Italy

Listed author(s):
  • Mazzocchi, Mario
  • Stefani, Gianluca

The paper develops a measure of consumer welfare losses associated with withheld information about BSE linkage with vCJD. food safety. The Cost of Ignorance (COI) is measured by comparing the utility of the informed choice with the utility of the uninformed one, under condition of improved information. Unlike previous work, based on a single equation demand model, the measure is obtained retrieving a cost function from a dynamic Almost Ideal Demand System. The results indicate that Italian consumers bore a significant loss because of the delayed release of information.

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File URL: http://purl.umn.edu/24927
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Paper provided by European Association of Agricultural Economists in its series 2002 International Congress, August 28-31, 2002, Zaragoza, Spain with number 24927.

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Date of creation: 2002
Handle: RePEc:ags:eaae02:24927
Contact details of provider: Web page: http://www.eaae.org
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  1. Hanemann, Michael & Morey, Edward, 1992. "Separability, partial demand systems, and consumer's surplus measures," Journal of Environmental Economics and Management, Elsevier, vol. 22(3), pages 241-258, May.
  2. Verbeke, Wim & Ward, Ronald W., 2001. "A fresh meat almost ideal demand system incorporating negative TV press and advertising impact," Agricultural Economics, Blackwell, vol. 25(2-3), pages 359-374, September.
  3. Ray, Ranjan, 1984. "A dynamic generalisation of the almost ideal demand system," Economics Letters, Elsevier, vol. 14(2-3), pages 235-239.
  4. Teisl, Mario F. & Roe, Brian, 1998. "The Economics of Labeling: An Overview of Issues for Health and Environmental Disclosure," Agricultural and Resource Economics Review, Cambridge University Press, vol. 27(02), pages 140-150, October.
  5. T. Kesavan & Zuhair A. Hassan & Helen H. Jensen & Stanley R. Johnson, 1993. "Dynamics and Long-run Structure in U.S. Meat Demand," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 41(2), pages 139-153, 07.
  6. Mario F. Teisl & Nancy E. Bockstael & Alan Levy, 2001. "Measuring the Welfare Effects of Nutrition Information," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(1), pages 133-149.
  7. Teisl, Mario F. & Roe, Brian, 1998. "The Economics of Labeling: An Overview of Issues for Health and Environmental Disclosure," Agricultural and Resource Economics Review, Cambridge University Press, vol. 27(02), pages 140-150, October.
  8. Jeffrey T. LaFrance, 1993. "Weak Separability in Applied Welfare Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(3), pages 770-775.
  9. Foster, William & Just, Richard E., 1989. "Measuring welfare effects of product contamination with consumer uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 17(3), pages 266-283, November.
  10. Jeffrey T. LaFrance & W. Michael Hanemann, 1989. "The Dual Structure of Incomplete Demand Systems," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 71(2), pages 262-274.
  11. Wim Verbeke & Ronald W. Ward & Jacques Viaene, 2000. "Probit analysis of fresh meat consumption in Belgium: Exploring BSE and television communication impact," Agribusiness, John Wiley & Sons, Ltd., vol. 16(2), pages 215-234.
  12. Arthur Lewbel, 1985. "A Unified Approach to Incorporating Demographic or Other Effects into Demand Systems," Review of Economic Studies, Oxford University Press, vol. 52(1), pages 1-18.
  13. Pashardes, Panos, 1986. "Myopic and Forward Looking Behavior in a Dynamic Demand System," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 27(2), pages 387-397, June.
  14. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-326, June.
  15. Hausman, Jerry A, 1981. "Exact Consumer's Surplus and Deadweight Loss," American Economic Review, American Economic Association, vol. 71(4), pages 662-676, September.
  16. Rickertsen, Kyrre, 1996. "Structural Change and the Demand for Meat and Fish in Norway," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 23(3), pages 316-330.
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