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Are labels good or bad for consumers and firms? The answer may seem straightforward since labels improve information, yet economic theory reveals situations where their introduction reduces the welfare of at least some market participants. This essay reviews the theoretical literature on labels...
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is still in its infancy. It also takes into account factors that go beyond the farmers and farm characteristics that are …
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farmers. Elicited individual discount rates vary with the time delay, which supports the existence of a reversal effect in …
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