A structural vector autoregression (SVAR) model along with a direct acyclic graph is employed to decompose how supply/demand structural shocks affect food and fuel markets. The results support the hypothesis that fundamental market forces of demand and supply are the main drivers of food price...

Consumers generally prefer certainty to uncertainty, which leads them to shun uncertain situations. This research demonstrates, however, that consumers facing uncertainty (rather than certainty) associated with a positive event (e.g., winning a lucky draw but not knowing the exact prize won) can...