The importance of natural capital to economic systems is increasingly recognized. Previous empirical models of economic growth rates, however, have emphasized accumulation of physical and human capital. This paper shows that the economic growth of over 70 countries has been positively affected...

We examine determinants of consumers’ choices of functional canola oil products that may contain genetically modified (GM) ingredients, with emphasis on the influences of trust and health control beliefs. We find that both generalized trust and trust in the food system tend to offset negative...

While the compensatory model of choice dominates the environmental valuation literature, non-compensatory models, where individuals do not tradeoff one attribute for another, are sometimes found to be better representations of choice behavior. Most non-compensatory models employ “cutoffs”,...

This study focuses on behavioral responses to low-probability, potentially high-impact risks over which individuals have little control. A case study that represents these characteristics examines the influence of trust on consumers’ reactions to recurring food safety incidents in the context...

Research has shown that introducing external incentives to encourage pro-social behavior, such as monetary rewards or regulation, may crowd out voluntary pro-social activity. This has implications for the appropriate design and use of such incentive-based programs. This study investigates...

Choice modelling is an increasingly important technique for forecasting and valuation, with applications in fields such as transportation, health and environmental economics. For this reason it has attracted attention from leading academics and practitioners and methods have advanced...