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Economic Loss Due to Reputation Damage: A New Model and Its Application to Fukushima Peaches
Journal of Agricultural Economics ( IF 3.4 ) Pub Date : 2019-12-02 , DOI: 10.1111/1477-9552.12366
Shigeru Matsumoto , Viet‐Ngu Hoang

Consumers have responded negatively to agricultural products originating from the Fukushima prefecture after the 2011 Fukushima Daiichi nuclear power plant incident. These consumers’ behavioural changes have caused substantial economic losses for the producers located in contaminated regions through reductions in market prices, consumption quantities and market shares. Remarkably, these losses are observed also for uncontaminated products, posing an opportunity for research in reputation damage. However, existing literature is very rare on empirical modeling of such losses. We utilise the Dixit–Stiglitz demand framework to derive a simple but efficient empirical model that uses market data to quantify reputation damage. This model estimates changes in the perceived quality of a product originating in contaminated regions in relation to those products originating from other competing regions. The model also measures subsequent loss in market share for those products grown in contaminated regions. In our application to Fukushima, results suggest that consumers’ valuation of peaches from Fukushima decreased dramatically (between 22.5% and 23.6%) in the year the nuclear accident occurred, but rapidly recovered in the following years. The results also show that the degree of impact varies across wholesale markets. Fukushima farmers lost about 13.1–18.9% of sales due to reputation damage. Estimates from our proposed models deliver meaningful information in the context of policy interventions such as transfer programmes financed by gainers to compensate reputation losses.

中文翻译:

声誉受损造成的经济损失:一种新模型及其在福岛桃子中的应用

2011年福岛第一核电站事故发生后,消费者对源自福岛县的农产品做出了负面反应。这些消费者的行为改变通过降低市场价格,消费量和市场份额,给位于受污染地区的生产者造成了巨大的经济损失。值得注意的是,对于未受污染的产品,也观察到了这些损失,这为研究声誉受损提供了机会。但是,现有的文献很少有关于这种损失的经验模型。我们利用Dixit–Stiglitz需求框架得出一个简单而有效的经验模型,该模型使用市场数据来量化声誉损失。该模型估计了源自受污染区域的产品相对于源自其他竞争区域的那些产品的感知质量的变化。该模型还衡量了在受污染地区种植的那些产品随后的市场份额损失。在我们对福岛的桃子中的应用中,结果表明,消费者对福岛桃子的评价在核事故发生的那年急剧下降(在22.5%和23.6%之间),但在随后的几年中迅速恢复。结果还表明,影响程度在批发市场之间有所不同。由于声誉受损,福岛农民损失了约13.1–18.9%的销售。
更新日期:2019-12-02
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