Second-Order Ambiguity in Very Low Probability Risks: Food Safety Valuation

Second-Order Ambiguity in Very Low Probability Risks: Food Safety Valuation

Food consumption involves inherently risky decisions with uncertain probabilities. This study examines how second-order ambiguity, or uncertainty over probabilities, affects food safety decisions. We conduct a food safety survey wherein subjects face both unambiguous and ambiguous situations, each w...

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Bibliographic Details
Main Authors: Paul A. Kivi, Jason F. Shogren
Format: Article
Language:English
Published: Western Agricultural Economics Association 2010-12-01
Series:Journal of Agricultural and Resource Economics
Subjects:
ambiguity
ambiguity avoidance
expected utility theory
food safety
low probability events
risk
second-order probabilities
uncertainty
Online Access:https://ageconsearch.umn.edu/record/97857

Internet

https://ageconsearch.umn.edu/record/97857

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