A calibrated model is used to determine the welfare impacts of various regulatory instruments for improving health. The results of a lab experiment are integrated in a partial equilibrium model representing demands for two kinds of fish, one with higher nutritional benefits (canned sardines) and one with higher contamination risks (canned tuna) in France. In the laboratory, information about health effects leads to a statistically significant decrease (increase) in the willingness to pay for tuna (sardines). Simulations with the laboratory results show that, for most cases, a per-unit tax on tuna and a per-unit subsidy on sardines without any information revealed to consumers lead to the highest welfare, because both the tax and subsidy directly internalize health characteristics. The information policy combined with a per-unit tax on tuna and a per-unit subsidy on sardines is socially profitable only if a large proportion of consumers (greater than 95%) receives health information.

We compare consumer valuations of beef ribeye steaks from cattle produced without growth hormones or genetically modified corn in France, Germany, the United Kingdom, and the United States. Results suggest that French consumers place a higher value on beef from cattle that have not been administered added growth hormones than U.S. consumers; however, valuations of non-hormone-treated beef are statistically indistinguishable across Germany, the United Kingdom, and the United States. Results also suggest that European consumers place a much higher value on beef from cattle that have not been fed genetically modified corn than U.S. consumers.

For risk-averting agents, risks alter production decisions while the existence of institutions to insure against adverse states of nature will likely restore decisions toward levels under risk neutrality. In this article, conditions are identified on a stochastic technology to test Hrn: that risk averters choose smaller input levels than risk neutral agents, and Hra: that an increase in risk aversion reduces input use. A robust statistical method to test for dominance is adapted to stochastic production relations. It is found that Hrn is likely true for nitrogen application on Iowa corn. Weaker evidence is found in favor of Hra.

We compare consumer valuations of beef ribeye steaks from cattle produced without growth hormones or genetically modified corn in France, Germany, the United Kingdom, and the United States. Results suggest that French consumers place a higher value on beef from cattle that have not been administered added growth hormones than U.S. consumers; however, valuations of non-hormone-treated beef are statistically indistinguishable across Germany, the United Kingdom, and the United States. Results also suggest that European consumers place a much higher value on beef from cattle that have not been fed genetically modified corn than U.S. consumers.