Consumer willingness to pay (WTP) for beef based on color and price discounts.

Discoloration of beef products leads retailers to offer discounts or discard beef products, as consumers tend to reject a brownish beef color. This practice contributes to retail food waste and inefficient resource allocation linked to beef production. The objective of this study was to investigate U.S. consumer preferences for beef color and price discounts. After an initial test for screen acuity regarding color perception using a condensed form the ishihara test, data on meat purchasing behavior as well as demographic information was collected for all participants. An additional part of the study undertook a hypothetical discrete choice experiment using digital photos of beef steaks with different meat color, price, and discount labels in retail packaging to examine consumer preferences, willingness to pay, and the effects of discount pricing. Results of a Mixed Logit Model based on choice data show that beef shoppers perceive, see, and prefer color nearly linearly across days of retail display. Consumers' willingness to pay was negative for 4, 7 and 9 days of retail display relative to day zero and decreased with an increase in discoloration. Results indicate that beef shoppers would have to be financially compensated for choosing a steak that was discolored after 9 days of retail display. However, male beef buyers exhibit weaker preferences for color and could be a target segment for promoting discolored beef products to reduce meat waste.

Economic and environmental impacts of ballast water management on Small Island Developing States and Least Developed Countries.

The Ballast Water Management Convention can decrease the introduction risk of harmful aquatic organisms and pathogens, yet the Convention increases shipping costs and causes subsequent economic impacts. This paper examines whether the Convention generates disproportionate invasion risk reduction results and economic impacts on Small Island Developing States (SIDS) and Least Developed Countries (LDCs). Risk reduction is estimated with an invasion risk assessment model based on a higher-order network, and the effects of the regulation on national economies and trade are estimated with an integrated shipping cost and computable general equilibrium modeling framework. Then we use the Lorenz curve to examine if the regulation generates risk or economic inequality among regions. Risk reduction ratios of all regions (except Singapore) are above 99%, which proves the effectiveness of the Convention. The Gini coefficient of 0.66 shows the inequality in risk changes relative to income levels among regions, but risk reductions across all nations vary without particularly high risks for SIDS and LDCs than for large economies. Similarly, we reveal inequality in economic impacts relative to income levels (the Gini coefficient is 0.58), but there is no evidence that SIDS and LDCs are disproportionately impacted compared to more developed regions. Most changes in GDP, real exports, and real imports of studied regions are minor (smaller than 0.1%). However, there are more noteworthy changes for select sectors and trade partners including Togo, Bangladesh, and Dominican Republic, whose exports may decrease for textiles and metal and chemicals. We conclude the Convention decreases biological invasion risk and does not generate disproportionate negative impacts on SIDS and LDCs.

The Importance of Agriculture in the Economy: Impacts from COVID-19.

Much of the attention from COVID-19 has been on the impacts on tourism and other service sectors; but there has been a growing interest in some agricultural and food topics, such as the decline in food away from home (FAFH) expenditures. Our work considers the importance of FAFH in the overall economy, and we also consider changes in agricultural production and trade that have occurred because of COVID-19. We gather data on actual changes to these components, as well as similar shocks to non-agricultural sectors, and employ a simulation model to estimate the impacts on gross domestic product (GDP). Results indicate that changes from agriculture due to COVID-19 have had a larger effect on the overall U.S. economy than the share of agriculture in the economy at the beginning of COVID-19. But the non-agricultural shocks still outweigh the impacts from agriculture by a magnitude of 3. Breaking the results down along the components, we find that the loss in FAFH expenditures is the largest contributor to the change in GDP resulting from shocks to agricultural markets and conclude that agricultural production/trade markets have been very resilient during the pandemic. Our results also indicate that our model (computable general equilibrium) does reasonably well in estimating GDP compared to actual changes due to the inclusion of data on actual demand, supply, and fiscal responses to COVID-19.

Potential impacts of ballast water regulations on international trade, shipping patterns, and the global economy: An integrated transportation and economic modeling assessment.

Global ballast water management regulations aiming to decrease aquatic species invasion require actions that can increase shipping costs. We employ an integrated shipping cost and global economic modeling approach to investigate the impacts of ballast water regulations on bilateral trade, national economies, and shipping patterns. Given the potential need for more stringent regulation at regional hotspots of species invasions, this work considers two ballast water treatment policy scenarios: implementation of current international regulations, and a possible stricter regional regulation that targets ships traveling to and from the United States while other vessels continue to face current standards. We find that ballast water management compliance costs under both scenarios lead to modest negative impacts on international trade and national economies overall. However, stricter regulations applied to U.S. ports are expected to have large negative impacts on bilateral trade of several specific commodities for a few countries. Trade diversion causes decreased U.S. imports of some products, leading to minor economic welfare losses.