Ambiguity tolerance and confusion avoidance in the intent to purchase farmed fish

Aquaculture products are presently becoming a crucial part of consumers’ diets. However, asymmetric information regarding farmed fish exposes consumers to ambiguity and often makes them confused. Therefore, this study aims to ascertain the levels of ambiguity tolerance (AT) and confusion avoidance (CA) related to farmed fish and to test if consumers’ AT and CA influence their purchase intent (PI) of such fish. The impact of demographics on consumers’ CA and AT is also explored. The data were obtained through a survey conducted on a randomly selected sample of 1053 households who either purchase and have purchased fish. The collected data were analyzed employing explorative factor analysis, structural equation modeling, and a simple regression model. The study demonstrates that AT had a positive and significant impact on the PI of farmed fish, and also reduced CA. However, the current high level of CA does not influence the PI of farmed fish

Consumers’ Preferences for the Traceability Information of Seafood Safety

Consumers’ Preferences for the Traceability Information of Seafood SafetyDue to importing food and the perpetual changes from conventional wet markets to supermarkets in emerging markets, consumers have the opportunity to base their buying decisions on traceability systems. Seafood traceability systems involve information on production mode, inspection notes, sustainable sources, and sources of origin to provide consumer protection and help ensure that all seafood is safe to consume. This study aims to explore seafood markets by assessing the demand for traceability information attributes by utilising data from an experimental survey in an emerging market such as Bangladesh. The data were analysed using descriptive statistics, exploratory factor analysis, and a conditional logit model. The results demonstrate that consumers are concerned regarding vitamins, cholesterol, and preservatives, while they are little concerned about microbiological contamination, pesticide residues, genetic modification, and additives or artificial colours. The difference between the mean willingness to pay (WTP) for traditional and sustainable farmed fish is higher than that between the mean WTP for conventional and sustainable wild fish. In a ranked-choice voting system, the ‘production mode’ and ‘claim of safety control (e.g., being formalin-free)’ were the first and second most influential attributes in fish choices. The outcomes of the econometric model revealed that consumers are more likely to prefer traceability information about fish control (e.g., formalin-free), and they want to pay a price premium for this information. Alternatively, consumers are less likely to prefer farmed and imported fish, and their WTP for these fishes are highly inflated. This finding may be because consumers use wild and local origin as a cue for food safety or quality. This study hopes that the effects of such traceability information will optimise the production process and supply chain and help make seafood recall management more effective

Out-of-pocket expenditure for seeking health care for sick children younger than 5 years of age in Bangladesh: findings from cross-sectional surveys, 2009 and 2012

Background: Bangladesh has committed to universal health coverage, and options to decrease household out-of-pocket expenditure (OPE) are being explored. Understanding the determinants of OPE is an essential step. This study aimed to estimate and identify determinants of OPE in seeking health care for sick under-five children. Methods: Cross-sectional data was collected by structured questionnaire in 2009 (n = 7362) and 2012 (n = 6896) from mothers of the under-five children. OPE included consultation fees and costs of medicine, diagnostic tests, hospital admission, transport, accommodation, and food. Expenditure is expressed in US dollars and adjusted for inflation. Linear regression was used for ascertaining the determinants of OPE. Results: Between 2009 and 2012, the median OPE for seeking care for a sick under-five child increased by ~ 50%, from USD 0.82 (interquartile range 0.39\u20131.49) to USD 1.22 (0.63\u20132.36) per child/visit. Increases were observed in every component OPE measured, except for consultation fees which decreased by 12%. Medicine contributed the major portion of overall OPE. Higher overall OPE for care seeking was associated with a priority illness (20% increase), care from trained providers (90% public/~ 2-fold private), residing in hilly/wet lands areas (20%) , and for mothers with a secondary education (19%). Conclusion: OPE is a major barrier to quality health care services and access to appropriate medicine is increasing in rural Bangladesh. To support the goal of universal health care coverage, geographic imbalances as well as expanded health financing options need to be explored

To the rescue!

Industrial entrepreneurs in developing countries need better guidance from banks in order to reduce defaults, claims Mohammad Ziaul Hoque

Industrial loan default : the case of Bangladesh

Industrial development finance institutions (IDFIs) in developing countries have been experiencing serious financial distress since the early 1970s due to persistent loan defaults. Despite the application of a number of remedial measures, industrial loan default problems continued to haunt the IDFIs. The massive loan loss has not only impaired the viability of many financial institutions, but also made them dependent on government bail-outs. The problem of persistent industrial loan default has become a most important and serious issue that has attracted the attention of bankers, financial market operators, international lending institutions such as the World Bank and policy makers in developing countries. Bangladesh is chosen as a case study because it is an interesting example of the persistent industrial loan default problem

To the rescue!

Industrial entrepreneurs in developing countries need better guidance from banks in order to reduce defaults, claims Mohammad Ziaul Hoque. Copyright 2006 Mohammad Ziaul Hoque. No part of this article may be reproduced by any means without the written consent of the publisher

A comparison of the suppliers' and customers' perspectives of functions of international business relationships

The objective of this paper is to enhance our understanding of international business-to-business relationships by presenting empirical evidence on the nature and relative importance of various relationship functions performed by the suppliers and the customers in trading relationships. Using the Indian database generated as a part of the International Marketing and Purchasing (IMP) Group’s multi-country study of international business relationships, the main questions addressed are: What different types of functions suppliers and customers fulfil in the international trading relationships? Which ones are relatively more important from the perspective of the supplier and that of the customer? The author compares the results with a previous study of Chinese firms and comments on the similarities/differences of the firms based in the two emerging countries in managing their relationships with their international partners

Understanding the Influence of Belief and Belief Revision on Consumers’ Purchase Intention of Liquid Milk

An unsustainable milk value chain can make consumers’ retention of preferences fragile, leading to a reduction in belief. One of the major ways of changing this belief is “belief revision” which accounts an interaction between a change in an individual’s preference with reference to its source and a belief expectancy and affects consumers’ behavioral intentions effectively. As there is little research on belief revision, the present study aims to investigate the impact of belief revision on purchase intention under an extended model for the theory of planned behavior. In doing so, the data were collected via a survey design regarding buying and drinking of liquid milk (LM) of the urban area. Principal component analysis and the binary logit model were the main research methods employed to analyze the data. The results of the study show that in a high level of belief expectancy, consumers’ behavioral belief revision and control belief have a negative effect, and the strength of behavioral belief has a positive significant effect on the purchase intention of LM. Moreover, among three social cognitive factors (attitude, subjective norm, perceived behavioral control [PBC]), only the PBC is associated positively and significantly with the purchase intention of LM, while no modal salient belief (beliefs, belief expectancies, belief values) affects the social cognitive factors. The study fundamentally adds to the literature, in that it first demonstrates the significance of belief revision in assessing the purchase intention

Ethics and economic theory

The theme of micro-foundation of economic theory has not been adequately addressed. This is true even of those who pioneered the area of micro-foundation of macro-economics. The great missing link in economic theory, both of micro-economics and macro-economics, is the inability to methodologically integrate ethical and moral values through preference mapping. This missing methodology disables the study of institutions, policy formulation and normative statements of structural transformation. On the other hand, such issues are once again haunting the human race in the murky and troubled global relations today – from capitalism to war to governance. This paper addresses the preference mapping and embedding of ethical and moral issues as endogenous dynamics in economic theory. The approach is rigorous and methodological.Economic policy, Economic theory, Economics, Epistemology, Ethics, Finance

Board committee meetings and firm financial performance : an investigation of Australian companies

This article examines how the frequency of board committee meetings impacts on Australian firms’ financial performance. Data were collected from 118 Australian listed companies – including 26 financial firms and 92 nonfinancial firms – for the period 1999–2007. Analysis of that data shows that the frequencies of audit committee meetings and remuneration committee meetings are positively and significantly associated with return on equity and return on assets. The frequencies of risk committee meetings do not show any significant effects on the financial performance of Australian firms. Estimated results are found to be robust after controlling for internal as well as external governance mechanisms that might affect Australian firm performance