Consumer Welfare and the Loss Induced by Withholding Information: The Case of BSE in Italy
提出一种衡量消费者福利损失的方法，通过比较知情与不知情选择的效用，估算意大利消费者因疯牛病信息延迟而遭受的损失，占肉类总支出的12%至54%。
The paper develops a measure of consumer welfare losses associated with withholding information about a possible link between BSE and vCJD. The Cost of Ignorance (COI) is measured by comparing the utility of the informed choice with the utility of the uninformed choice, under conditions of improved information. Unlike previous work that is largely based on a single equation demand model, the measure is obtained retrieving a cost function from a dynamic Almost Ideal Demand System. The estimated perceived loss for Italian consumers due to delayed information ranges from 12 percent to 54 percent of total meat expenditure, depending on the month assumed to embody correct beliefs about the safety level of beef.