IMPLEMENTING AN EXPANDED FOOD AND NUTRITION POLICY: A FARMER'S POINT OF VIEW

Agricultural and Food Policy,

Market Power in the Carbonated Soft Drink Industry

We investigate the strategic pricing for leading brands sold in the carbonated soft drink (CSD) market in the context of a flexible demand specification (i.e. random parameter nested logit) and a structural pricing equation. Our approach does not rely upon the often used ad hoc linear approximations to demand and profit-maximizing first-order conditions. We estimate the structural pricing equation using four different estimators (i.e. OLS, LIML, 2SLS, and GMM) and compare the implied deviation from Bertrand-Nash competition. Our results suggest that retailers, on average, price CSD brands below their cost, likely a result of the competitive retailing environment. We also find CSD wholesalers price their brands significantly more cooperatively than Bertrand-Nash would suggest, thus inflating profits.Market Power, Carbonated Soft Drinks, Econometrics, LIML, Agribusiness, Agricultural and Food Policy, Demand and Price Analysis, Industrial Organization,

Consumer Impact of Animal Welfare Regulation in the California Poultry Industry

This study examines the consumer welfare impact of animal welfare legislation mandating cage-free egg production in California. We estimate California egg consumers’ willingness to pay (WTP) for cage-free eggs using household-level purchase data and compare the implied premium to higher production costs when calculating the potential change in consumer surplus. Our findings suggest that larger households and/or households with limited means are most likely to be affected. Furthermore, the implied welfare loss for consumers is approximately $106 million. Although consumers value cage-free eggs, higher production costs result in a net welfare loss to consumers. One implication of this finding is that a clear labeling practice may be a more efficient way to motivate animal welfare and non-cage systems.animal welfare regulation, California poultry, egg prices, egg supply, hen housing, mixed logit, willingness to pay, Livestock Production/Industries,

Heavy-Tailed Features and Empirical Analysis of the Limit Order Book Volume Profiles in Futures Markets

This paper poses a few fundamental questions regarding the attributes of the volume profile of a Limit Order Books stochastic structure by taking into consideration aspects of intraday and interday statistical features, the impact of different exchange features and the impact of market participants in different asset sectors. This paper aims to address the following questions: 1. Is there statistical evidence that heavy-tailed sub-exponential volume profiles occur at different levels of the Limit Order Book on the bid and ask and if so does this happen on intra or interday time scales ? 2.In futures exchanges, are heavy tail features exchange (CBOT, CME, EUREX, SGX and COMEX) or asset class (government bonds, equities and precious metals) dependent and do they happen on ultra-high (<1sec) or mid-range (1sec -10min) high frequency data? 3.Does the presence of stochastic heavy-tailed volume profile features evolve in a manner that would inform or be indicative of market participant behaviors, such as high frequency algorithmic trading, quote stuffing and price discovery intra-daily? 4. Is there statistical evidence for a need to consider dynamic behavior of the parameters of models for Limit Order Book volume profiles on an intra-daily time scale ? Progress on aspects of each question is obtained via statistically rigorous results to verify the empirical findings for an unprecedentedly large set of futures market LOB data. The data comprises several exchanges, several futures asset classes and all trading days of 2010, using market depth (Type II) order book data to 5 levels on the bid and ask

Measures of Brand Loyalty

Though brand loyalty has been studied extensively in the marketing literature, the relationship between brand loyalty and equilibrium pricing strategies is not well understood. Designing sales pricing strategies involves two key decisions: the percentage reduction in price from the existing price point, and the number or frequency of promotions within a category or for a specific product. These decisions, in turn, are critically dependent upon how many consumers can be convinced to switch to a brand by temporarily reducing its price, and how many are instead brand loyal. Theoretical models of how the size and strength of brand loyalty influence optimal promotion strategies have been developed, but there are no rigorous tests of their hypotheses. We test how brand loyalty impacts promotion strategies for a frequently purchased consumer package good category. Our results largely confirm that retailers often promote many brands simultaneously and that depth and breadth can be complementary.Consumer/Household Economics, Food Consumption/Nutrition/Food Safety, Marketing,

An investigation of the role of background music in IVWs for learning

Empirical evidence is needed to corroborate the intuitions of gamers and game developers in understanding the benefits of Immersive Virtual Worlds (IVWs) as a learning environment and the role that music plays within these environments. We report an investigation to determine if background music of the genre typically found in computer‐based role‐playing games has an effect on learning in a computer‐animated history lesson about the Macquarie Lighthouse within an IVW. In Experiment 1, music stimuli were created from four different computer game soundtracks. Seventy‐two undergraduate students watched the presentation and completed a survey including biographical details, questions on the historical material presented and questions relating to their perceived level of immersion. While the tempo and pitch of the music was unrelated to learning, music conditions resulted in a higher number of accurately remembered facts than the no music condition. One soundtrack showed a statistically significant improvement in memorisation of facts over other music conditions. Also an interaction between the levels of perceived immersion and ability to accurately remember facts was observed. Experiment 2, involving 48 undergraduate students, further investigated the effect of music, sense of immersion and how different display systems affect memory for facts

Online vs. face-to-face discussions in a web-based research methods course for postgraduate nursing students : A quasi-experimental study

Background: Web-based technologies are increasingly being used to create modes of online learning for nurses but their effect has not been assessed in nurse education. Objectives: Assess whether participation in face-to-face discussion seminars or online asynchronous discussion groups had different effects on educational attainment in a webbased course. Design: Non-randomised or quasi-experimental design with two groups – students choosing to have face-to-face discussion seminars and students choosing to have online discussions. Setting: The Core Methods module of a postgraduate research methods course. Participants: All 114 students participating in the first 2 years during which the course teaching material was delivered online. Outcome: Assignment mark for Core Methods course module. Methods: Background details of the students, their choices of modules and assignment marks were collected as part of the routine course administration. Students’ online activities were identified using the student tracking facility within WebCT. Regression models were fitted to explore the association between available explanatory variables and assignment mark. Results: Students choosing online discussions had a higher Core Methods assignment mark (mean 60.8/100) than students choosing face-to-face discussions (54.4); the difference was statistically significant (t = 3.13, df = 102, p = 0.002), although this ignores confounding variables. Among online discussion students, assignment mark was significantly correlated with the numbers of discussion messages read (Kendall’s taub = 0.22, p = 0.050) and posted (Kendall’s taub = 0.27, p = 0.017); among face-to-face discussion students, it was significantly associated with the number of non-discussion hits in WebCT (Kendall’s taub = 0.19, p = 0.036). In regression analysis, choice of discussion method, whether an MPhil/PhD student, number of non-discussion hits in WebCT, number of online discussion messages read and number posted were associated with assignment mark at the 5% level of significance when taken singly; in combination, only whether an MPhil/PhD student (p = 0.024) and number of non-discussion hits (p = 0.045) retained significance. Conclusions: This study demonstrates that a research methods course can be delivered to postgraduate healthcare students at least as successfully by an entirely online method in which students participate in online discussion as by a blended method in which students accessing web-based teaching material attend face-to-face seminar discussions. Increased online activity was associated with higher assignment marks. The study highlights new opportunities for educational research that arise from the use of virtual learning environments that routinely record the activities of learners and tutors

Media Advertising and Ballot Initiatives: An Experimental Analysis

Marketing,

Problems with Unofficial and Inaccurate Geographical Names in the Fisheries Literature

Over a century of fi shery and oceanographic research conducted along the Atlantic coast of the United States has resulted in many publications using unofficial, and therefore unclear, geographic names for certain study areas. Such improper usage, besides being unscholarly, has and can lead to identification problems for readers unfamiliar with the area. Even worse, the use of electronic data bases and search engines can provide incomplete or confusing references when improper wording is used. The two terms used improperly most often are “Middle Atlantic Bight” and “South Atlantic Bight.” In general, the term “Middle Atlantic Bight” usually refers to an imprecise coastal area off the middle Atlantic states of New York, New Jersey, Delaware, Maryland, and Virginia, and the term “South Atlantic Bight” refers to the area off the southeastern states of North Carolina, South Carolina, Georgia, and Florida’s east coast