Hao, Na; Wang, H. Holly; Wang, Xinxin; Michael, Wetzstein - In: China agricultural economic review : CAER 16 (2024) 1, pp. 1-19
Purpose This study aims to test the compensatory consumption theory with the explicit hypothesis that China's new-rich tend to waste relatively more food. Design/methodology/approach In this study, the authors use Heckman two-step probit model to empirically investigate the new-rich consumption...