This paper analyses the role of information in the search process. Ibuild a simple model of a good with two random attributes with somejoint probability distribution. I consider seemingly unimportant changesin this distribution, i.e. changes which neither affect expected utility norits variance....

Complementing the existing literature on anchoring effects and loss aversion, we analyze how firms can influence loss–averse consumers’ willingness to pay by product information in the form of informative advertising rather than by prices. We find that consumers’ willingness to pay is...

Für die einen gilt: "Nur Warnhinweise auf Lebensmitteln können vor der Volksseuche Übergewicht noch retten." Für die anderen hingegen ist klar: "Eine rote Ampel auf kalorienreichen Lebensmitteln bedeutet eine unerträgliche Entmündigung der Bürger." Die aktuelle Kontroverse um die von der...

In this paper we investigate how consumers respond to the UK food label Traffic Light System (TLS). Employing a Choice Experiment (CE) we find that consumers appear to behave in a manner consistent with our expectations regarding the impact of the TLS nutrition label. In particular, we identify...

While for the time period 1995 to 1998 significant and positive welfare effects and a consumer willingness-to-pay could be measured for the origin and certification mark "Qualität aus Bayern" there is a new situation after the BSE crisis due to changes of several impact factors. In the...

In December 2006 the Regulation (EC) No. 1924/2006 on the use of nutrition and health claims (NHCs) on foods was enacted in order to prevent consumer deception and to harmonise law within the EU. Against this background, this paper analyses the potential costs and benefits linked with NHCs and...

One way to support consumers in integrating health aspects into their purchase and eating behaviour is to make information available to consumers in a comprehensible manner. In behavioural economics framing effects are acknowledged as important factors influencing perception of information. In...

A substantial expansion of wine supply has induced a strong product proliferation on the market. It is not only the taste of wines that has become more diversified, but quality signals are increasingly utilized, too. Quality signals include information on the wine bottle, such as origin, grape...