Triggering cognitive dissonance with textual information and images: Data from three experiments with meat-eaters

This article presents data from three experiments in which we triggered and measured cognitive dissonance in meat-eaters. Cognitive dissonance is a well-established concept in the social psychology literature; however, empirical measures are scarce. In all datasets, we used textual information and/or images related to meat consumption as means to trigger cognitive dissonance. Cognitive dissonance data was collected in Study 1 with a Likert scale, whereas Study 2 and 3 used a Semantic Bipolar scale. Each experiment was programmed with Qualtrics and consisted of four conditions. Data was collected online; Study 1 utilized social media to recruit participants while Study 2 and 3 were hosted on Prolific. All datasets contain items on participants' socio-demographic background, liking of different food products, cognitive dissonance, and a measure of meat avoidance. The data can be used to analyze the effect of information provision on cognitive dissonance and meat avoidance. Moreover, the relationship between socio-demographic variables and cognitive dissonance, as well as other exploratory purposes regarding meat avoidance can be explored. Furthermore, researchers can use the data to investigate differences between Likert scales and Semantic Bipolar scales. This data is related to the paper Can images and textual information lead to meat avoidance? The mediating role of cognitive dissonance [1]. (c) 2023 The Author(s). Published by Elsevier Inc

Portfolio selection with growth optimization and downside protection

This paper applies growth optimization with downside protection as a portfolio selection technique. The model is based on power-log utility functions that combine portfolio growth maximization with the behavioural tenets of prospect theory. We use three assets (a farm return index, a stock market index, and a Treasury bond index) to illustrate how effective this technique is compared to the standard model of growth maximization.portfolio management, growth optimization, Financial Economics, D92,

ASYMMETRIC INFORMATION, CAPITAL STRUCTURE AND AGRICULTURAL INVESTMENT

This paper explicitly models the interdependent finance and investment decision in order to increase the understanding on how fluctuations in agricultural investment are attributable to changes in financial decisions. Euler equations for investment and finance are estimated by the use of the GMM technique on an unbalanced panel data set for 342 farm operations in Southwestern Minnesota for the 1989-1998 period.Agricultural Finance,

Consumer benefits of labels and bans on genetically modified food - An empirical analysis using Choice Experiments

Applying an experiment on the choice of consumer goods, we show that Swedish consumers do not regard genetically modified (GM) food as being equivalent to conventional food. A central argument by proponents of GM is that the end products are identical to those where GM has not been used. That respondents in our survey disagree with this argument is supported by two observations. First, a positive significant WTP is found for a mandatory labeling policy. This result confirms previous observations that GM food can be a credence good causing a market failure. Second, consumers are also willing to pay a significantly higher product price to ensure a total ban on the use of GM in animal fodder. Even if scientists and politicians argue that most of today's GM food is indistinguishable from GM-free food, consumers disagree.Institutional and Behavioral Economics,

Consumer Benefits of Labels and Bans on GMO Foods: An Emprical Analysis Using Choice Experiments

Applying a choice experiment on the choice of consumer goods we show that Swedish consumers do not regard GMO food as being equivalent to conventional food. A central argument by proponents of GMO is that the end products are identical to those where GMO has not been used. That respondents in our survey disagree with this argument is supported by two observations. First, a positive significant WTP is found for a mandatory labeling policy. This result confirms previous observations that GMO food can be a credence good causing a market failure. Second, consumers are also willing to pay a significantly higher product price to ensure a total ban on the use of GMO in animal fodder. Even if scientists and politicians argue that most of today’s GMO food is indistinguishable from GMO free food, the consumers disagree.

Consumer perceptions and attitudes towards climate information on food

The food sector is a major contributor to climate change, and reducing meat consumption is important to achieve significant reductions in global carbon emissions. The implementation of information policies to reduce carbon emissions from red meat consumption entails understanding of how such information is expected to be received and used by consumers. This study uses survey data from a consumer panel, and match this with data on the same respondents' actual purchase behavior based on scanner data. Individuals with lower knowledge levels about the climate impact from food purchase the highest share of red meat, and the lowest share of sustainability labelled products. This indicates that information provision has the potential to increase knowledge among in-dividuals with the highest climate impact. Four sub-groups of consumers are identified in a latent class cluster model based on their motivations for consuming or avoiding meat. It is mainly the 'meat reducers' and 'meat avoiders' that are interested in using climate information when purchasing food. However, individuals in these sub-groups already purchase the least amount of meat and the highest amount of sustainable products. These findings point to limitations with climate information as a policy instrument, and suggests that other measures are needed as complements to initiate and achieve the necessary changes in consumption patterns

Perceived business risks and observed impacts of the Russian-Ukraine war among small- and medium-sized agri-food value chain enterprises in Egypt

We examine the perceived business risks and impacts on performance associated with the Russian aggression in Ukraine in February 2022 among 450 Egyptian small and medium-sized agrifood enterprises. Our analysis identifies six distinct clusters of enterprises based on their perceived risks and three clusters based on the observed impacts of the war. We find a strong association between perceived business risks and observed impacts, suggesting that the risks identified by agrifood SMEs significantly influence their actual business performance. This underscores the importance of understanding and effectively managing perceived risks to mitigate the negative impacts of external shocks, enhance operational resilience, and improve overall performance. Moreover, the results indicate that the consequences of the war extend beyond direct effects on agrifood enterprises, affecting various stages of the agrifood chain. This implies that, in times of crisis, the absence of a wellfunctioning agrifood SME sector may threaten the sustainability of the entire agrifood value chain. These insights contribute to a more comprehensive understanding of the experiences of agrifood SMEs during the early stages of the war, helping policymakers and enterprises prioritize risk management strategies and allocate resources effectively to enhance performance and competitiveness in times of crisis

The inverse relation between risks and benefits: The impact of individual differences in information processing style

Existing research shows that evaluations of the risks and benefits of various hazards (i.e., technologies and activities) are inversely related. The affect heuristic explains the negative relation between risks and benefits, as based on the strength of positive or negative affect associated with a hazard. Research on the affect heuristic previously investigated under which conditions people judge risk and benefits independently, focusing on expertise as a factor that might exempt from inversely related judgements of risk and benefits. Measurements within Dual Process Theories have been found to be associated with rational, analytical decision making and accurate judgments. In this paper we investigated the extent to which rational information processing styles can predict the risk-benefit relation of technologies in a medical and food applications and whether the attitudes influence the strength or direction of the relationship. Using the Need for Cognition Scale (NFC), a psychometric-based risk scale and an explicit measure of attitude, in a representative sample of 3228 Swedes, we found that the high NFC group judged the risks and benefits of technologies to be inversely related. In contrast, the low NFC group judged the risks and benefits to be positively related. These results were confirmed across all studied technologies by applying moderation analysis. We discuss the results in light of recent research on cognitive processing and polarization over technologies' risks

Farmer Participation in the Conservation Reserve Program and Bio-fuel Production under Uncertainty and Irreversibility

Crop Production/Industries, Land Economics/Use, Resource /Energy Economics and Policy,

Motives, propensities and consistencies among Swedish consumers in relation to the food choice concept of clean eating

PurposeThe purpose of this study is to explore how consumers apply clean-eating criteria to a range of food characteristics, and the extent to which individuals are consistent in how they apply clean-eating criteria across products. Further, this study investigates how the clean-eating approach relates to underlying food choice motives.Design/methodology/approachData were collected in a consumer survey (n = 666) in Sweden, where participants were prompted about the importance of a set of intrinsic food attributes of the "free-from" and "added" types, for three different food product types (bread, processed meat, ready meals). Data were analyzed using latent class cluster analysis, to explore segments of consumers that place similar importance to the food characteristics and hold similar food choice motives.FindingsClean eating can be described by two distinctly different attainment strategies: avoiding undesirable characteristics or by simultaneously approaching desirable characteristics. Notably, individuals who apply clean-eating criteria in their food choices strive for healthy, natural and environmentally friendly food, but the clean-by-approach strategy implies a stronger focus on personal health in the form of weight control.Originality/valueWhile claims and labels on food packages concerning clean eating are implemented by food manufacturers, it remains unregulated. This study provides information for future regulations on how consumers apply clean-eating criteria, and their motives thereof. Further, the results provide insights food manufacturers regarding motives for clean eating in different consumer segments