ASSESSING CONSUMERS’ WILLINGNESS TO PAY FOR DIFFERENT UNITS OF ORGANIC MILK: EVIDENCE FROM MULTI-UNIT AUCTIONS

Replaced with revised version of paper 06/28/10Multi-unit Vickrey auctions, organic milk, information, Agribusiness, Consumer/Household Economics, Demand and Price Analysis, Marketing, Research Methods/ Statistical Methods, C91, D44,

Initial Endowment Effects in Multi-Unit Vickrey Auctions

We report the result of experiments designed to assess the effect of initial endowments on willingness to pay values elicited from multi-unit Vickrey auctions. Comparing bids from an “endow and upgrade” approach with the “full bidding” approach, we find that the direction of the endowment effect generally depends on the number of endowed units of the conventional product that subjects are willing to give up in exchange for units of the upgraded product. The endowment effect is “reverse” when the number of units that participants are willing to give up is lower or equal to the number of remaining endowed units. However, we generally find an endowment effect when the number of units a participant is willing to give up is higher than the number of remaining endowed units.Endowment effect, Number of units of the endowed product, Multi-unit Vickrey auctions., Agribusiness, Research Methods/ Statistical Methods, Teaching/Communication/Extension/Profession, C91, D12, D44,

On the Use of Multi-Unit Auctions in Measuring Consumers’ Willingness to Pay for Food Products

This paper proposes the use of multi-unit auctions in studying consumers’ willingness to pay (WTP) for food products in a multi-unit shopping scenario. We show how this method can overcome the limitations of single-unit experimental auctions in obtaining useful information related to WTP for not just the first unit but also subsequent units of a product, the demand curve, consumer surplus, the determinants of consumers’ WTP for each auctioned unit, and the effect of potential price discount strategies.Multi-unit auctions, Willingness to pay, demand curve, Consumer surplus, Price discounts., Agribusiness, Consumer/Household Economics, Marketing, Research Methods/ Statistical Methods, C91, D12, D44, M31,

Investment rigidity and policy measures

This paper assesses the impacts of decoupled government transfers on production decisions of a sample of Kansas farms observed from 1996 to 2001. Our model allows for risk, risk attitudes and the intertemporal investment decisions. We also allow for different adjustments of the decision variables depending on the predominant economic conditions. The theoretical model is estimated using the threshold regression methods proposed by Hansen (1999). Threshold effects are allowed to characterize the behavior of output supply and quasi-fixed and variable input demand.. The econometric results support the existence of three regimes characterized by different economic behavior. Our analysis suggests that in a dynamic setting with risk and non-risk neutral economic agents, decoupled transfers can have a powerful influence on decisions taken by economic agents. The dynamics of the stock of capital cause this influence to grow over time.Investment, Decoupling, Threshold Behaviour, Farm Management, Risk and Uncertainty,

Multiple cyclical fractional structures in financial time series

This paper analyses multiple cyclical structures in financial time series. In particular, we focus on the monthly structure of the Nasdaq, the Dow Jones and the Standard&Poor stock market indices. The three series are modelled as long-memory processes with poles in the spectrum at multiple frequencies, including the long-run or zero frequency

Phytopharmacological strategies in the management of type 2 diabetes Mellitus

Type 2 Diabetes Mellitus (T2DM) is a chronic disease which corresponds to 90% of the worldwide cases of diabetes, mainly due to epigenetic factors such as unhealthy lifestyles. First line therapeutic approaches are based on lifestyle changes, most of the time complemented with medication mostly associated with several side e ects and high costs. As a result, the scientific community is constantly working for the discovery and development of natural therapeutic strategies that provide lower financial impact and minimize side e ects. This review focus on these nature-based therapeutic strategies for prevention and control of T2DM, with a special emphasis on natural compounds that present pharmacological activity as dipeptidyl peptidase-4 (DPP4), alpha-amylase, alpha-glucosidase, lipase, and protein tyrosine phosphatase 1B (PTP1B) inhibitors.info:eu-repo/semantics/publishedVersio

Food texture design by 3D printing: a review

An important factor in consumers’ acceptability, beyond visual appearance and taste, is food texture. The elderly and people with dysphagia are more likely to present malnourishment due to visually and texturally unappealing food. Three-dimensional Printing is an additive manufacturing technology that can aid the food industry in developing novel and more complex food products and has the potential to produce tailored foods for specific needs. As a technology that builds food products layer by layer, 3D Printing can present a new methodology to design realistic food textures by the precise placement of texturing elements in the food, printing of multi-material products, and design of complex internal structures. This paper intends to review the existing work on 3D food printing and discuss the recent developments concerning food texture design. Advantages and limitations of 3D Printing in the food industry, the material-based printability and model-based texture, and the future trends in 3D Printing, including numerical simulations, incorporation of cooking technology to the printing, and 4D modifications are discussed. Key challenges for the mainstream adoption of 3D Printing are also elaborated on.info:eu-repo/semantics/publishedVersio

Lipid oxidation inhibition by natural tocopherols increases the nutritional value of tuna salami

Introduction: The quality attributes of fish products deteriorate due to the lipid oxidation during processing and storage. Tuna salami is highly susceptible to oxidation, which can precipitate health hazards and economic losses in terms of inferior product quality. Methods: The effect of adding different natural antioxidants on the lipid oxidation, colour and fatty acid profile of tuna salami after nine days of storage at 4 ºC was assessed. Three different commercial mixes of tocopherols were added during the production of the tuna salami and samples were sliced and refrigerated for 9 days. Results: The lipid oxidation increased from 0.98 to 4.03 mg of malondialdehyde/kg. The oxidation process was inhibited by DLT-100 and VIT-100; however, RNX10 did not blunt the oxidative process. VIT and dose-limiting toxicity (DLT) reduced the total unsaturated fatty acid reduction. The RNX did not prevent the reduction of the a* value. Conclusion: It was concluded that tocopherols supplementation kept the nutritional value of tuna salami mainly by lipid oxidation inhibition.info:eu-repo/semantics/publishedVersio

OWA operators in human resource management

We develop a new approach that uses the ordered weighted averaging (OWA) operator in different methods for the selection of human resources. The objective of this new model is to manipulate the neutrality of the old methods, so the decision maker can select human resources according to his degree of optimism or pessimism. In order to develop this model, first, a short revision of the OWA operators is introduced. Next, we briefly explain the general model for the selection of human resources and suggest three new indexes for the selection of human resources that use the OWA operator and the hybrid average in the Hamming distance, in the adequacy coefficient and in the index of maximum and minimum level. The main advantage of this method is that it is more complete than the previous ones so the decision maker gets a better understanding of the decision problem. The work ends with an illustrative example that shows the results obtained by using different types of aggregation operators in the new approaches.

OWA Operators in Generalized Distances

Different types of aggregation operators such as the ordered weighted quasi-arithmetic mean (Quasi-OWA) operator and the normalized Hamming distance are studied. We introduce the use of the OWA operator in generalized distances such as the quasi-arithmetic distance. We will call these new distance aggregation the ordered weighted quasi-arithmetic distance (Quasi-OWAD) operator. We develop a general overview of this type of generalization and study some of their main properties such as the distinction between descending and ascending orders. We also consider different families of Quasi-OWAD operators such as the Minkowski ordered weighted averaging distance (MOWAD) operator, the ordered weighted averaging distance (OWAD) operator, the Euclidean ordered weighted averaging distance (EOWAD) operator, the normalized quasi-arithmetic distance, et