Within a general equilibrium model, this paper identifies a novel animal welfare externality that occurs if the private animal friendliness in a market economy falls short of the social animal friendliness used by the social planner when determining the efficient allocation. The animal welfare...

Consumers often encounter reminders of resource scarcity. However, relatively little is known about the psychological processes that such reminders instantiate. In this article, we posit that reminders of resource scarcity activate a competitive orientation, which guides consumers’ decision...