Analysing the traceability system in herbal product industry by game theory
The agricultural traceability system provides information transparency throughout the agricultural supply chain. This paper applies game theory to analyse the traceability system used by the herbal product industry in order to elucidate the strategic choices made by government authorities, farmers (...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Czech Academy of Agricultural Sciences
2019-02-01
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| Series: | Agricultural Economics (AGRICECON) |
| Subjects: | |
| Online Access: | https://agricecon.agriculturejournals.cz/artkey/age-201902-0004_analysing-the-traceability-system-in-herbal-product-industry-by-game-theory.php |
| _version_ | 1797899936630571008 |
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| author | Mao-Chang Wang Chin-Ying Yang |
| author_facet | Mao-Chang Wang Chin-Ying Yang |
| author_sort | Mao-Chang Wang |
| collection | DOAJ |
| description | The agricultural traceability system provides information transparency throughout the agricultural supply chain. This paper applies game theory to analyse the traceability system used by the herbal product industry in order to elucidate the strategic choices made by government authorities, farmers (e.g. producers), certification agencies, and consumers. This paper clarifies how relevant variables affect the traceability system employed in the herbal product industry. The analysis yields strong results and indicates a superior equilibrium; the observed strategic choices comprise active traceability system promotion by authorities, development of a comprehensive traceability system by farmers, maintenance of independence by certification agencies, and purchase of herbal products by consumers. The traceability system and existing herbal product safety programs must be refined because they are crucial to consumers, farmers, and people who support agricultural communities. These results contribute to the literature in the field, serving as a reference for members of the herbal product industry, government authorities, and academics. |
| first_indexed | 2024-04-10T08:37:54Z |
| format | Article |
| id | doaj.art-3c24622d1e0f4c8997f2c60df24295da |
| institution | Directory Open Access Journal |
| issn | 0139-570X 1805-9295 |
| language | English |
| last_indexed | 2024-04-10T08:37:54Z |
| publishDate | 2019-02-01 |
| publisher | Czech Academy of Agricultural Sciences |
| record_format | Article |
| series | Agricultural Economics (AGRICECON) |
| spelling | doaj.art-3c24622d1e0f4c8997f2c60df24295da2023-02-23T03:25:20ZengCzech Academy of Agricultural SciencesAgricultural Economics (AGRICECON)0139-570X1805-92952019-02-01652748110.17221/102/2018-AGRICECONage-201902-0004Analysing the traceability system in herbal product industry by game theoryMao-Chang Wang0Chin-Ying Yang1Department of Accounting, Chinese Culture University, Taipei, TaiwanDepartment of Agronomy, National Chung Hsing University, Taichung, TaiwanThe agricultural traceability system provides information transparency throughout the agricultural supply chain. This paper applies game theory to analyse the traceability system used by the herbal product industry in order to elucidate the strategic choices made by government authorities, farmers (e.g. producers), certification agencies, and consumers. This paper clarifies how relevant variables affect the traceability system employed in the herbal product industry. The analysis yields strong results and indicates a superior equilibrium; the observed strategic choices comprise active traceability system promotion by authorities, development of a comprehensive traceability system by farmers, maintenance of independence by certification agencies, and purchase of herbal products by consumers. The traceability system and existing herbal product safety programs must be refined because they are crucial to consumers, farmers, and people who support agricultural communities. These results contribute to the literature in the field, serving as a reference for members of the herbal product industry, government authorities, and academics.https://agricecon.agriculturejournals.cz/artkey/age-201902-0004_analysing-the-traceability-system-in-herbal-product-industry-by-game-theory.phpcertification agenciesconsumersfarmersgame theorygovernment authoritiesherbal product industrytraceability system |
| spellingShingle | Mao-Chang Wang Chin-Ying Yang Analysing the traceability system in herbal product industry by game theory Agricultural Economics (AGRICECON) certification agencies consumers farmers game theory government authorities herbal product industry traceability system |
| title | Analysing the traceability system in herbal product industry by game theory |
| title_full | Analysing the traceability system in herbal product industry by game theory |
| title_fullStr | Analysing the traceability system in herbal product industry by game theory |
| title_full_unstemmed | Analysing the traceability system in herbal product industry by game theory |
| title_short | Analysing the traceability system in herbal product industry by game theory |
| title_sort | analysing the traceability system in herbal product industry by game theory |
| topic | certification agencies consumers farmers game theory government authorities herbal product industry traceability system |
| url | https://agricecon.agriculturejournals.cz/artkey/age-201902-0004_analysing-the-traceability-system-in-herbal-product-industry-by-game-theory.php |
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