Risk, fear, bird flu and terrorists: A study of risk perceptions and economics
This paper examines the relationship between risk perceptions, affect and the economic consequences of a bio-security threat against the U.S. food system. The main argument is that there exists a link between risk perceptions and economic behavior. The paper raises conjectures through a utility-theoretic economic model and examines these through two separate surveys, the first being a hypothetical agroterrorist attack and the second a hypothetical discovery of 'bird flu' in the United States. The results provide strong evidence that risk perception and fear can interact with consumption in an economically significant way.
Agribusiness, Education, and Communication
Agricultural terrorism, Agroterrorism, Avian influenza, Bird flu, Consumer hysteresis, Economics and fear, Food safety, Risk perceptions
Turvey, Calum G., Benjamin Onyango, Cara Cuite, and William K. Hallman. "Risk, fear, bird flu and terrorists: A study of risk perceptions and economics." The Journal of Socio-Economics 39, no. 1 (2010): 1-10.
Journal of Socio-Economics