Open Access. Powered by Scholars. Published by Universities.®

Physical Sciences and Mathematics Commons™

Open Access. Powered by Scholars. Published by Universities.®

Life Sciences

Series

University of Kentucky

Agricultural Economics Faculty Publications

Articles 1 - 7 of 7

Full-Text Articles in Physical Sciences and Mathematics

New Market Opportunities And Consumer Heterogeneity In The U.S. Organic Food Market, Gwanseon Kim, Jun Ho Seok, Tyler B. Mark Sep 2018

New Market Opportunities And Consumer Heterogeneity In The U.S. Organic Food Market, Gwanseon Kim, Jun Ho Seok, Tyler B. Mark

Agricultural Economics Faculty Publications

This paper investigates what factors and characteristics of organic consumers affect annual organic food expenditure by using Nielsen’s consumer panel dataset from 2010 to 2014. To be specific, this paper explores new marketing opportunities by investigating organic consumer heterogeneity in different household income levels by utilizing the multilevel model. Findings in this study will contribute to the previous and existing literature in three-folds. First, we find that the organic consumers are more heterogeneous in the high-level of income groups (approximately above $60,000), as well as the low-income households between $35,000 and $45,000. This finding demonstrates that the income levels above …

Go to article

Point-Of-Sale Specific Willingness To Pay For Quality-Differentiated Beef, Kar Ho Lim, Michael Vassalos, Michael R. Reed Jul 2018

Point-Of-Sale Specific Willingness To Pay For Quality-Differentiated Beef, Kar Ho Lim, Michael Vassalos, Michael R. Reed

Agricultural Economics Faculty Publications

Despite the growing interest of producers and consumers toward grass-fed, local, and organic beef, the supply chain for these products to reach consumers is not always clear-cut. Among the available options are direct-to-consumers and the conventional food supply chain. Although consumers may pay a premium for beef differentiated by quality attributes, the willingness to pay (WTP) difference across point-of-sales is unclear. In this study, we contrast the WTPs for conventional, grass-fed, local, and organic beef by brick-and-mortar supermarkets (B&Ms), farmers’ markets, and via online stores. We conduct a choice experiment with a nationwide online sample of American consumers. The findings …

Go to article

Is Aging The Important Factor For Sustainable Agricultural Development In Korea? Evidence From The Relationship Between Aging And Farm Technical Efficiency, Jun Ho Seok, Hanpil Moon, Gwanseon Kim, Michael R. Reed Jun 2018

Is Aging The Important Factor For Sustainable Agricultural Development In Korea? Evidence From The Relationship Between Aging And Farm Technical Efficiency, Jun Ho Seok, Hanpil Moon, Gwanseon Kim, Michael R. Reed

Agricultural Economics Faculty Publications

This paper examines the effects of aging and income subsidies on farm efficiency in Korea by utilizing the Korean Farm Household Economic Survey from 2008 to 2015. A stochastic frontier model with a non-monotonic assumption on the effect of efficiency factors is implemented to reflect a super aging and less developed production structure in Korean agriculture. This study finds continuously decreasing farm efficiency with age, which contradicts the commonly assumed inverted-U relationship between age and productivity. Especially, we find that labor is the most important factor to explain recent farm efficiency losses in Korea. Furthermore, this paper finds that the …

Go to article

Asymmetric Price Volatility Transmission Between U.S. Biofuel, Corn, And Oil Markets, Sayed Saghaian, Mehdi Nemati, Cory Walters, Bo Chen Jan 2018

Asymmetric Price Volatility Transmission Between U.S. Biofuel, Corn, And Oil Markets, Sayed Saghaian, Mehdi Nemati, Cory Walters, Bo Chen

Agricultural Economics Faculty Publications

Linkages between agricultural commodity and energy prices have become more complex with increased ethanol production. The concern is whether the new corn–ethanol links lead to volatility-spillover transmission between food and energy prices. We investigate asymmetric volatility spillovers between oil, corn, and ethanol prices using a BEKK-multivariate-GARCH approach. Additionally, we use daily, weekly, and monthly futures prices to examine whether the use of different-frequency data leads to inconsistent results. The results support the existence of asymmetric volatility transmission between corn and ethanol prices. Furthermore, the volatility-spillover effects are different for the different-frequency prices, and positive and negative price changes generate inconsistent …

Go to article

Impacts Of A Community Supported Agriculture (Csa) Voucher Program On Food Lifestyle Behaviors: Evidence From An Employer-Sponsored Pilot Program, Jairus J. Rossi, Timothy A. Woods, James E. Allen Iv Aug 2017

Impacts Of A Community Supported Agriculture (Csa) Voucher Program On Food Lifestyle Behaviors: Evidence From An Employer-Sponsored Pilot Program, Jairus J. Rossi, Timothy A. Woods, James E. Allen Iv

Agricultural Economics Faculty Publications

Community supported agriculture (CSA) programs have recently received attention for their potential to influence food lifestyle behaviors and health outcomes. We build on and expand inquiries into the relationship between CSA participation and behavior change by presenting the results from a controlled pilot study of first-time CSA shareholders. We offered 95 first-time shareholders a $200 voucher to participate in a CSA. Prior to and immediately following CSA participation, these shareholders completed a survey on food lifestyle behaviors. Using econometric analyses, we measured shareholder behavior changes against an 82 person control group. All participants were drawn from a pool of individuals …

Go to article

Influence Of Source Credibility On Consumer Acceptance Of Genetically Modified Foods In China, Mingyang Zhang, Chao Chen, Wuyang Hu, Lijun Chen, Jintao Zhan Sep 2016

Influence Of Source Credibility On Consumer Acceptance Of Genetically Modified Foods In China, Mingyang Zhang, Chao Chen, Wuyang Hu, Lijun Chen, Jintao Zhan

Agricultural Economics Faculty Publications

This paper examines the reasoning mechanism behind the consumer acceptance of genetically modified foods (GMFs) in China, and investigates influence of source credibility on consumer acceptance of GMFs. Based on the original Persuasion Model—which was developed by Carl Hovland, an American psychologist and pioneer in the study of communication and its effect on attitudes and beliefs—we conducted a survey using multistage sampling from 1167 urban residents, which were proportionally selected from six cities in three economic regions (south, central, and north) in the Jiangsu province through face to face interviews. Mixed-process regression that could correct endogeneity and ordered probit model …

Go to article

Are Consumers Willing To Pay More For Sustainable Products? A Study Of Eco-Labeled Tuna Steak, Guzhen Zhou, Wuyang Hu, Wenchao Huang May 2016

Are Consumers Willing To Pay More For Sustainable Products? A Study Of Eco-Labeled Tuna Steak, Guzhen Zhou, Wuyang Hu, Wenchao Huang

Agricultural Economics Faculty Publications

A high demand for seafood leads to overfishing, harms the long-term health of seafood stocks, and threatens environmental sustainability in oceans. Sustainability certification is one of the major sustainability movements and is known as eco-labeling. For instance, in the tuna industry, leading tuna brands have committed to protecting sea turtles by allowing the tracing of the source of their tuna “from catch to can.” This paper relies on an Internet survey on consumers from Kentucky conducted in July 2010. The survey investigates household-level tuna steak (sashimi grade) consumption and examines consumer preferences for eco-labeling (“Certified Turtle Safe” (CTS) in this …

Go to article