The marginal utility of money: A modern Marshallian approach to consumer choice

We reformulate neoclassical consumer choice by focusing on lambda, the marginal utility of money. As the opportunity cost of current expenditure, lambda is approximated by the slope of the indirect utility function of the continuation. We argue that lambda can largely supplant the role of an arbitrary budget constraint in partial equilibrium analysis. The result is a better grounded, more flexible and more intuitive approach to consumer choice.

Tractable Consumer Choice

We derive a rational model of separable consumer choice which can also serve as a behavioral model. The central construct is [lambda] , the marginal utility of money, derived from the consumer's rest-of-life problem. We present a robust approximation of [lambda], and show how to incorporate liquidity constraints, indivisibilities and adaptation to a changing environment. We fi nd connections with numerous historical and recent constructs, both behavioral and neoclassical, and draw contrasts with standard partial equilibrium analysis. The result is a better grounded, more flexible and more intuitive description of consumer choice.

Consumer Behaviour in a Social Context: Implications for Environmental Policy

In this paper we summarise some of our recent work on consumer behaviour, drawing on recent developments in behavioural economics, in which consumers are embedded in a social context, so their behaviour is shaped by their interactions with other consumers. For the purpose of this paper we also allow consumption to cause environmental damage. Analysing the social context of consumption naturally lends itself to the use of game theoretic tools, and indicates that we seek to develop links between economics and sociology rather than economics and psychology, which has been the more predominant field for work in behavioural economics. We shall be concerned with three sets of issues: conspicuous consumption, consumption norms and altruistic behaviour. Our aim is to show that building links between sociological and economic approaches to the study of consumer behaviour can lead to significant and surprising implications for conventional economic policy prescriptions, especially with respect to environmental policy.

Mobile termination, network externalities, and consumer expectations

We re-examine the literature on mobile termination in the presence of network externalities. Externalities arise when firms discriminate between on- and off-net calls or when subscription demand is elastic. This literature predicts that profit decreases and consumer surplus increases in termination charge in a neighborhood of termination cost. This creates a puzzle since in reality we see regulators worldwide pushing termination rates down while being opposed by network operators. We show that this puzzle is resolved when consumers' expectations are assumed passive but required to be fulfilled in equilibrium (as defined by Katz and Shapiro, AER 1985), instead of being rationally responsive to non-equilibrium prices, as assumed until now.

Consumer populations and nutritional transition in Spain in the 20th century: a methodology for their reconstruction

One feature of the modern nutrition transition is the growing consumption of animal proteins. The most common approach in the quantitative analysis of this change used to be the study of averages of food consumption. But this kind of analysis seems to be incomplete without the knowledge of the number of consumers. Data about consumers are not usually published in historical statistics. This article introduces a methodological approach for reconstructing consumer populations. This methodology is based on some assumptions about the diffusion process of foodstuffs and the modeling of consumption patterns with a log-normal distribution. This estimating process is illustrated with the specific case of milk consumption in Spain between 1925 and 1981. These results fit quite well with other data and indirect sources available showing that this dietary change was a slow and late process. The reconstruction of consumer population could shed a new light in the study of nutritional transitions.

Did the cooperative start life as a Joint-Stock company? business law and cooperatives in Spain, 1869–1931

Studies of Spanish cooperatives date their spread from the Law on Agrarian Syndicates of 1906. But the first legislative appearance of cooperatives is an 1869 measure that permitted general incorporation for lending companies. The 1931 general law on cooperatives, which was the first act permitting the formation of cooperatives in any activity, reflects the gradual disappearance of the cooperative’s "business" characteristics. In this paper we trace the Spanish cooperative’s legal roots in business law and its connections to broader questions of the freedom of association, the formation of joint-stock enterprises, and the liability of investors in business and cooperative entities. Our account underscores the similarities of the organizational problems approach by cooperatives and business firms, while at the same time respecting the distinctive purposes cooperatives served.

IPH responds to EC Director-General for Health and Consumer Affairs consultation on EU action to reduce health inequalities

The aim of the consultation was to collect views on how the European Union can contribute to reducing health inequalities both within and between member states. The Institute of Public Health in Ireland (IPH) is an all-island body which aims to improve health in Ireland, by working to combat health inequalities and influence public policies in favour of health.  The Institute promotes co-operation between Northern Ireland and the Republic of Ireland in research, training, information and policy to contribute to policies which tackle inequalities in health. IPH acknowledges and appreciates the benefits of information sharing and joint action in relation to policy and practice between European countries and we are proud to have been the Irish/Northern Irish partner in several projects, most recently as Work Package Leader for DETERMINE, coordinated by EuroHealthNet and as collaborating partner for I2SARE, coordinated by Federation National des Observatories de Sante (FNORS).  Both projects are funded by the European Commission.

Consumer Focused Review of the Chicken Food Chain

safefood research into consumer concerns about the food chain has indicated that more than 40 per centof consumers are most concerned aboutchicken in terms of how it is produced, packaged, sold and handled at home. Our review of theindustry foundit was highly regulated while adhering to rigorous international standards. This review found that chicken is the main protein source for many consumers on the island of Ireland. It alsooutlined the need for consumers to ensure that chicken is cooked andhandled properly to avoid food borne illnesses.

Consumer Focused Review of the Finfish Food Chain

Our review into the finfish food chain on the island of irelandrevealed that despite a highly regulated industry producing a very nutritious food source, the consumption of fish remains low and consumer barriers to purchasing and eating fish still remain.

Consumer Focused Review of the Pork Supply Chain

Pig meat production was valued at €290 (£198) million at farm gate in Republic of Ireland (ROI) in 2007. In Northern Ireland (NI) in 2006, pig meat was estimated to account for almost seven percent of gross turnover in the food and drinks processing sector at £190 (€280) million. Whilst researching for this report it emerged that comparable figures for the value of the pig meat industry on ROI and NI are not available. This report showed that pig production on the IOI has changed from a small-scale enterprise carried out by a large number of mixed farmers to a modern industry comprised of a small number of specialist producers operating large-scale units. Most products for retailers are prepared and packed in specialised cutting and processing units which may or may not be integrated in the slaughter plant. For some pork products, various additives such as salt, herbs and flavour enhancers are added. Pork products are then stored and transported, frozen or chilled to wholesale, retail and catering facilities for ultimate sale to consumers.

Consumer Food Safety Knowledge, Microbiology & Refrigeration Temperatures in Domestic Kitchens

This study examined consumer food safety knowledge on the island of Ireland. Domestic refrigerators were tested for the presence of a range of pathogenic bacteria.

Consumer Focused Review of Fruit and Vegetables

This review provides an update on the fruit and vegetable review conducted in 2007. It collates and considers the information available – academic, regulatory, public health – on the health and food safety implications of fruit and vegetables. It focuses on ready-to-eat (RTE) fresh fruit and vegetables which are consumed raw, whether whole or prepared, and includes products packaged under vacuum or in a modified atmosphere that have not undergone any treatment (chemical, physical or biological) to ensure preservation, other than chilling. The key finding was that 75% of Irish consumers are now able to identify that they should eat five portions of fruit and vegetables a day, but only a third (36%) of consumers say they are doing so. The average intake of fruit and vegetables is currently less than half that recommended, at 2.4 portions per day. Issues to do with cost, shelf life, preparation time and habit were seen by consumers as barriers to buying and consuming more fruit and vegetables. his review provides an update on the fruit and vegetable review conducted in 2007. It collates and considers the information available – academic, regulatory, public health – on the health and food safety implications of fruit and vegetables. - See more at: http://www.safefood.eu/Publications/Research-reports/Consumer-Focused-Review-of-Fruit-and-Vegetables.aspx#sthash.T98zN2UU.dpuf This review provides an update on the fruit and vegetable review conducted in 2007. It collates and considers the information available – academic, regulatory, public health – on the health and food safety implications of fruit and vegetables. It focuses on ready-to-eat (RTE) fresh fruit and vegetables which are consumed raw, whether whole or prepared, and includes products packaged under vacuum or in a modified atmosphere that have not undergone any treatment (chemical, physical or biological) to ensure preservation, other than chilling. The key finding was that 75% of Irish consumers are now able to identify that they should eat five portions of fruit and vegetables a day, but only a third (36%) of consumers say they are doing so. The average intake of fruit and vegetables is currently less than half that recommended, at 2.4 portions per day. Issues to do with cost, shelf life, preparation time and habit were seen by consumers as barriers to buying and consuming more fruit and vegetables. This review provides an update on the fruit and vegetable review conducted in 2007. It collates and considers the information available – academic, regulatory, public health – on the health and food safety implications of fruit and vegetables. It focuses on ready-to-eat (RTE) fresh fruit and vegetables which are consumed raw, whether whole or prepared, and includes products packaged under vacuum or in a modified atmosphere that have not undergone any treatment (chemical, physical or biological) to ensure preservation, other than chilling. The key finding was that 75% of Irish consumers are now able to identify that they should eat five portions of fruit and vegetables a day, but only a third (36%) of consumers say they are doing so. The average intake of fruit and vegetables is currently less than half that recommended, at 2.4 portions per day. Issues to do with cost, shelf life, preparation time and habit were seen by consumers as barriers to buying and consuming more fruit and vegetables. - See more at: http://www.safefood.eu/Publications/Research-reports/Consumer-Focused-Review-of-Fruit-and-Vegetables.aspx#sthash.T98zN2UU.dpuf This review provides an update on the fruit and vegetable review conducted in 2007. It collates and considers the information available – academic, regulatory, public health – on the health and food safety implications of fruit and vegetables. It focuses on ready-to-eat (RTE) fresh fruit and vegetables which are consumed raw, whether whole or prepared, and includes products packaged under vacuum or in a modified atmosphere that have not undergone any treatment (chemical, physical or biological) to ensure preservation, other than chilling. The key finding was that 75% of Irish consumers are now able to identify that they should eat five portions of fruit and vegetables a day, but only a third (36%) of consumers say they are doing so. The average intake of fruit and vegetables is currently less than half that recommended, at 2.4 portions per day. Issues to do with cost, shelf life, preparation time and habit were seen by consumers as barriers to buying and consuming more fruit and vegetables. - See more at: http://www.safefood.eu/Publications/Research-reports/Consumer-Focused-Review-of-Fruit-and-Vegetables.aspx#sthash.T98zN2UU.dpuf This review provides an update on the fruit and vegetable review conducted in 2007. It collates and considers the information available – academic, regulatory, public health – on the health and food safety implications of fruit and vegetables. It focuses on ready-to-eat (RTE) fresh fruit and vegetables which are consumed raw, whether whole or prepared, and includes products packaged under vacuum or in a modified atmosphere that have not undergone any treatment (chemical, physical or biological) to ensure preservation, other than chilling. The key finding was that 75% of Irish consumers are now able to identify that they should eat five portions of fruit and vegetables a day, but only a third (36%) of consumers say they are doing so. The average intake of fruit and vegetables is currently less than half that recommended, at 2.4 portions per day. Issues to do with cost, shelf life, preparation time and habit were seen by consumers as barriers to buying and consuming more fruit and vegetables. - See more at: http://www.safefood.eu/Publications/Research-reports/Consumer-Focused-Review-of-Fruit-and-Vegetables.aspx#sthash.T98zN2UU.dpuf This review provides an update on the fruit and vegetable review conducted in 2007. It collates and considers the information available – academic, regulatory, public health – on the health and food safety implications of fruit and vegetables. - See more at: http://www.safefood.eu/Publications/Research-reports/Consumer-Focused-Review-of-Fruit-and-Vegetables.aspx#sthash.T98zN2UU.dpuf