Subjective Risks, Scientific Information, and Food Choices: A Test of Scenario Adjustment in Hypothetical Choice Experiments

53 Pages Posted: 8 Mar 2014

See all articles by Simone Cerroni

Simone Cerroni

University of Aberdeen

Sandra Notaro

University of Trento - Department of Economics

Roberta Raffaelli

University of Trento

W. Douglass Shaw

Texas A&M University

Date Written: March 7, 2014

Abstract

Food safety policy programs often involve communication campaigns that inform the general public about reductions in the risk of experiencing negative outcomes in the future. Using a stated-choice survey, we find that people do not fully accept scientific risk estimates, but they adjust these to conform with their own subjective estimates. Interestingly, this adjusting phenomenon is more pronounced when scientific risks are smaller than subjective estimates, rather than when they are greater. This asymmetric “adjustment” is shown to affect support and willingness to pay for food safety polices.

Keywords: subjective risk, risk communication, food choice, exchangeability method, choice experiment

JEL Classification: C83, D81, Q18

Suggested Citation

Cerroni, Simone and Notaro, Sandra and Raffaelli, Roberta and Shaw, W. Douglass, Subjective Risks, Scientific Information, and Food Choices: A Test of Scenario Adjustment in Hypothetical Choice Experiments (March 7, 2014). Available at SSRN: https://ssrn.com/abstract=2405981 or http://dx.doi.org/10.2139/ssrn.2405981

Simone Cerroni (Contact Author)

University of Aberdeen ( email )

Dunbar Street
Aberdeen, Scotland AB24 3QY
United Kingdom

Sandra Notaro

University of Trento - Department of Economics ( email )

via Verdi, 53
Trento, 38122
Italy

Roberta Raffaelli

University of Trento ( email )

via Verdi, 53
Trento, 38122
Italy

W. Douglass Shaw

Texas A&M University ( email )

Langford Building A
798 Ross St.
College Station, TX 77843-3137
United States

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