A relative increase in demand for quality can have one of two potentially countervailing effects: it can cause substitution of one quality for another and/or it might expand overall demand by bringing new consumers into the market. This article investigates demand expansion and substitution...

This paper analyzes price differentials among conventional, cage-free, organic, andOmega-3 eggs using retail scanner data from two regional markets and the United Statesas a whole. Results reveal significant premiums attributable to cage-free (a 57% premiumon average) and organic (an 85% premium...

It is now fashionable in many circles to advocate vegetarianism, and many activist groups are vocal in their aim to convert the human race to vegetarians. What would be the economic costs and benefits of a shift away from meat consumption? In this article we provide some partial answers to this...

This paper analyzes price differentials among conventional, cage-free, organic, and Omega-3 eggs using retail scanner data from two regional markets and the United States as a whole. Results reveal significant premiums attributable to cage-free (a 57% premium on average) and organic (an 85%...

A previous study showed that imposing economic restrictions improves the forecasting ability of food demand systems, thus warranting their use even when rejected in-sample. This study attempts to determine whether this is due solely to the fact that restrictions improve degrees of freedom....

Despite the existence of over 2.5 million Quarter Horses in the U.S., there has heretofore been little information available on the structural parameters underpinning the Quarter Horse market. In this paper, we compiled a unique data set, merging together information on registrations from the...

A large body of literature suggests individuals behave differently when responding to hypothetical valuation questions than when actual payment is required. Such findings have generated a great deal of skepticism over the use of the contingent valuation method and benefit measures derived from...

This research examines the empirical properties of duality theory. A comparison of the Hessian matrices calculated from the normalized unrestricted and restricted profit, and production functions indicate that duality is highly sensitive to measurement error and relative price variability....

A wide array of food safety scares and breakdowns have led to loss of consumer confidence in the quality and safety of beef products. To counteract such concerns, firms and regulators have the ability to utilize brands or labels to signal quality. Utilizing a mail survey in France, Germany, and...