Behavioral Economics Commons^™

The Role Of Safety First Risk Preferences In Grain Marketing: A Laboratory Economic Experiment Using A Grain Marketing Simulation Game, Stamatina Kotsakou

Department of Agricultural Economics: Dissertations, Theses, and Student Research

In this study, the Marketing in a New Era (MINE) grain marketing simulation game is used to carry out a context-rich economic experiment to evaluate the role of risk preferences in grain marketing decisions. The model of risk preferences that we consider is an improved Safety First decision rule model proposed by Levy and Levy (2009). We experimentally test if Safety First decision rule describes individuals’ post-harvest marketing decisions. In our experiment, we incorporate real-world features which are usually omitted in marketing studies such as: multiple storage decisions, storage cost, actual price series and multiple contract frequency. MINE plays a …

Mapping The Ecology Of Information: Hierarchical Habitat Selection By Nebraska Pheasant Hunters, Lyndsie Wszola

School of Natural Resources: Dissertations, Theses, and Student Research

Hunting regulations are assumed to moderate the effects of hunting consistently across a game population. A growing body of evidence suggests that hunter effort varies temporally and spatially, and that variation in effort at multiple spatial scales can affect game populations in unexpected ways. We set out to determine the causes of variation in hunting effort among ring-necked pheasant (Phasianus colchicus) hunters at four spatial scales: among regions within the state of Nebraska, among sites within a given region, among access points at a given site, and among habitat patches within a site. At each scale, pheasant hunters used direct …

Consumer Perceptions Of Food Safety And Preferences For Food Safety Interventions, Kofi Britwum

Department of Agricultural Economics: Dissertations, Theses, and Student Research

This dissertation consists of three essays that investigate consumers’ response to technologies that mitigate food safety risks: cattle vaccines against E. coli and direct-fed microbials.

The first essay examines the influence of information framing and issue involvement on perceptions of the two food safety technologies. This essay also examines the role of issue involvement on food safety perceptions. A hypothetical survey which includes six information treatments was developed, and targeted a representative, random sample of U.S consumers. Participants were exposed to general information about E. coli and the two food safety technologies, a gain-framed message, a loss-framed message, …

Empathy Conservation: Experiments Suggest A Need For More Attention In Policymaking, Natalia V. Czap, Hans J. Czap, Gary Lynne, Mark E. Burbach

CAFIO: Policy Research Group Policy Pagers

One of the major challenges of environmental policy with regard to conservation is that it must often rely on voluntary and non-selfish actions of individuals. Traditionally policy makers rely on direct regulation and financial incentives, but both approaches face problems. Regulations may lead to resentment and the costs of perfect enforcement are prohibitively high. Financial incentives can be perverse and may lead to unintended consequences, including crowding out of intrinsic motivation. In addition, behavioral economics and economic psychology studies demonstrate that the assumptions of the neoclassical economic models (such as self-interest only, rationality, and willpower) on which the policy design …

Renewable Portfolio Standards May Reduce Green Energy Used In Electricity Production, Karina Schoengold, Suparna Bhattacharya, Konstantinos Giannakas

CAFIO: Policy Research Group Policy Pagers

Rising energy prices, dependence on foreign oil supplies, and consequences of climate change have prompted governments worldwide to initiate policies to shift from fossil fuels to renewables for electricity generation. One of the most commonly used policy instruments is the Renewable Portfolio Standard (RPS), which requires electricity providers to procure green energy (e.g., wind, solar, biomass) for a portion of their electricity supplies. To date, RPS has been a state-mandated program in the United States. As of February 2017, 29 states, Washington DC, and 3 territories have adopted RPS policies.

Industrial Ecology Analysis Of The Potential For An Eastern Nebraska Industrial Symbiosis Network (Enisn): A Comparative Study, Bradley A. Behne

School of Natural Resources: Dissertations, Theses, and Student Research

The area of Eastern Nebraska north of Omaha, including the municipality of Blair is host to a collection of unique companies and industries. These industries, driven by the agricultural and urban economy of the area, as well as the geographic proximity to each other, make it an advantageous area to study the potential for a network where individual entities utilize the concept of industrial symbiosis. This potential network is referred to as the Eastern Nebraska Industrial Symbiosis Network (ENISN). Industrial symbiosis, a sub-set of industrial ecology, engages separate industries in a collaborative and collective approach, concerning itself with the flow …

The Influence Of Projection Bias On Outcomes Of Healthcare Financial Incentive Programs, Jordyn M. Bader

Department of Agricultural Economics: Dissertations, Theses, and Student Research

This thesis contributes to the behavioral health literature and literature regarding healthcare financial incentive programs by discussing the influences of the behavioral economic concept of projection bias on programs designed to recruit healthcare providers to rural or under served areas. First, I propose an adaptation to the model of projection bias by introducing a term that captures variability in individuals’ propensity to exhibit projection bias based on the amount of effort expended in predicting future preferences. Next, I conduct a probit model regression to observe what incentive program design features and participant characteristics are likely to influence the probability of …

An Analysis Of The Effects Of Financial Education On Financial Literacy And Financial Behaviors, Jamie Wagner

College of Business: Dissertations, Theses, and Student Research

This study estimates how financial education affects a person’s financial literacy score, short-term financial behaviors, and long-term financial behaviors using data from the 2012 National Financial Capability Study (NFCS). There are seven categories of financial education—high school, college, employer, high school and college, high school and employer, college and employer, and combinations of all three courses—to estimate the effectiveness of financial education. This course detail has not been studied in previous literature about financial education.

Financial education has a positive relationship with a person’s financial literacy score. Splitting the sample into groups based on education and income results show that …

The Impact On Consumer Behavior Of Energy Demand Side Management Programs Measurement Techniques And Methods, Jeffrey L. Pursley

College of Business: Dissertations, Theses, and Student Research

Much effort has gone into measuring the impact of Demand Side Management (DSM) programs on energy usage, particularly in regards to electric usage. However, there are potential biases in such measurements. This paper explores one of these potential biases, the rebound effect. This effect is caused by changes in consumer behavior as a result of DSM programs. The work of Steven Braithwaite and Douglas Caves provide the starting point for this analysis, although the rebound effect is referenced in many other works in this field.

In an effort the estimate this effect, data from the Nebraska Energy Office’s DSM programs …

Coexistence Of Gm, Conventional And Organic Food Not Always Possible, Konstantinos Giannakas

CAFIO: Policy Research Group Policy Pagers

The coexistence of genetically modified (GM) products with their conventional and organic counterparts has been one of the most scrutinized issues surrounding the introduction of products of agricultural biotechnology into the agri-food system. Fears that the widespread adoption of GM products will drive their conventional (and, perhaps, organic) counterparts out of the market have been countered by arguments that their presence enhances the equilibrium product variety in the market. Central to the argument is, of course, the possibility of coexistence of GM, conventional and organic products with the main focus having been on farm production systems and the prospect of …

Gmos And Iprs Are Key Weapons In Fight Against Hunger, Konstantinos Giannakas

CAFIO: Policy Research Group Policy Pagers

The introduction of genetically modified organisms (GMOs) into the food system and the assignment of intellectual property rights (IPRs) for plant genetic resources are among the most notable features of the increasingly industrialized agri-food marketing system of numerous developed and developing countries around the world. IPRs have provided innovating firms with incentives to aggressively pursue improvements of crop characteristics (such as herbicide tolerance, insect and virus resistance, drought tolerance and increased nutritional value) through gene splicing techniques, and the agronomic benefits associated with the genetically modified (GM) products have resulted in their embrace by a significant number of agricultural producers …

Ad Hoc Disaster And Crop Insurance Programs May Reduce The Use Of Risk-Reducing Conservation Tillage Practices, Karina Schoengold, Ya Ying, Russell Headlee

CAFIO: Policy Research Group Policy Pagers

There is growing concern that the risks facing agricultural producers are increasing due to several factors that include the predicted effects of climate change leading to more frequent floods, droughts, and higher temperatures as well greater use of agricultural outputs for nonfood energy products.

These risks are partially managed through federal agricultural programs. Ad hoc disaster payments have frequently been used to provide financial support.

Cafio-Prg Develops Novel Approach To Policy Research, Konstantinos Giannakas

CAFIO: Policy Research Group Policy Pagers

The University of Nebraska-Lincoln has received a grant from the United States Department of Agriculture under the Policy Research Centers Program. This grant has supported the establishment of a Policy Research Group (PRG) as part of the Center for Agricultural and Food Industrial Organization (CAFIO) in the Department of Agricultural Economics. CAFIO-PRG is led by the Project Director, Professor Konstantinos Giannakas, and its main focus is on the development of a novel, empirically relevant, integrated, multi-market framework of policy analysis.

Consumer Attitudes And Labeling Regime Key To The Market Potential Of Food Nanotechnology, Miah Tran, Amalia Yiannaka, Konstantinos Giannakas

CAFIO: Policy Research Group Policy Pagers

Research shows that, even though most consumers lack knowledge and understanding of the technology, they nevertheless have strong opinions as to its potential risks and benefits. Advocates are determined to not repeat the mistakes of biotechnology. Understanding the factors determining the market acceptance of food nanotechnology and its potential impact on the different interest groups involved can inform the design of effective policies and strategies governing food nanotechnology innovations.

Country-Of-Origin-Labeling Creates Winners And Losers Among Consumers, Producers, And Retailers, Konstantinos Giannakas, Alejandro Plastina, Daniel Pick

CAFIO: Policy Research Group Policy Pagers

Public Law 107-171, the United States Farm Security and Rural Investment Act of 2002, required country-of-origin labeling (COOL) for beef, lamb, pork, fish, perishable agricultural commodities, and peanuts. While the aim is to benefit domestic consumers by allowing them to make informed decisions, the effects of COOL have been the subject of a heated on-going debate. Advocates of COOL argue the existence of an “overwhelming” consumer support for country of origin information and benefits that substantially outweigh the costs of this labeling regime. Opposing groups have expressed concerns about the potential competitive disadvantage that non-integrated producers might face due to …

Consumer-Oriented Gm Products Can Hurt Producers, Konstantinos Giannakas, Rim Lassoued

CAFIO: Policy Research Group Policy Pagers

Despite their important agronomic benefits to agricultural producers, GM products (GMPs) have been facing a, rather strong, consumer opposition. This opposition varies significantly between countries and so does the countries’ regulatory response to products of biotechnology. While the US treats biotech products as substantially equivalent to their conventional counterparts and does not require their segregation and labeling, the European Union (EU), based on its “precautionary principle” and consumers’ “right to know,” has instituted a mandatory labeling regime that is regarded as the strictest in the world.

Food Labeling Standards Have Significant Welfare And Distributional Impacts, Konstantinos Giannakas, Nicholas Kalaitzandonakes, Alexandre Magnier

CAFIO: Policy Research Group Policy Pagers

Discussions on the appropriate regulatory norms for genetically modified (GM) foods date back to the early 1980s. Thirty years later, a consensus on what such norms should be remains elusive. Some countries, including the United States and Canada, consider GM foods substantially equivalent to their conventional counterparts and do not require segregation and labeling of these products. Others, including the European Union, Japan, South Korea, New Zealand, Australia, and China have introduced mandatory labeling regimes.

Empathy Nudging Increases Conservation Of Farming Land, Natalia V. Czap, Hans J. Czap, Gary D. Lynne, Mark E. Burbach

CAFIO: Policy Research Group Policy Pagers

One of the major challenges of environmental policy with regard to conservation is that it must often rely on voluntary and non-selfish actions of individuals. Traditionally policy makers rely on direct regulation and financial incentives, but both approaches face problems. Regulations may lead to resentment and the costs of perfect enforcement are prohibitively high. Financial incentives can be perverse and may lead to unintended consequences, including crowding out of intrinsic motivation. In addition, behavioral economics and economic psychology studies demonstrate that the assumptions of the neoclassical economic models (such as self-interest only, rationality, and willpower) on which the policy design …

2013 Farm Bill: An Experimental Test Of The Senate And House Proposals, Natalia V. Czap, Hans J. Czap, Gary Lynne, Mark E. Burbach

CAFIO: Policy Research Group Policy Pagers

The 2008 Farm Bill currently guides agricultural and related environmental/conservation policy. Versions proposed by the United States Senate and the House of Representatives, to be implemented in the 2013 Farm Bill after differences are resolved, aim to achieve environmental (and other food related) goals, while also seeking significant spending cuts. While both versions propose to eliminate the Direct Payments program, they differ with respect to how other crop supports should work and whether crop insurance subsidies should be linked to conservation practices. The Senate Bill supports a policy design based on cross‐compliance, that is, crop insurance subsidies are conditional on …

The Green Revolution Of The 1960'S And Its Impact On Small Farmers In India, Kathryn Sebby

Department of Environmental Studies: Undergraduate Student Theses

The Green Revolution was initiated in the 1960’s to address the issue of malnutrition in the developing world. The technology of the Green Revolution involved bio-engineered seeds that worked in conjunction with chemical fertilizers and heavy irrigation to increase crop yields. The technology was readily adopted in many stated in India and for some was a great success. However, there were many farmers who could not afford the inputs necessary to participate in the Green Revolution and gaps between social classes widened as wealthy farmers got wealthier and poor farmers lagged behind. This paper discusses how small farmers were affected …