{"id":38364,"date":"2021-06-07T12:55:32","date_gmt":"2021-06-07T12:55:32","guid":{"rendered":"https:\/\/matis.is\/?p=38364"},"modified":"2021-06-07T12:55:35","modified_gmt":"2021-06-07T12:55:35","slug":"state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance","status":"publish","type":"post","link":"https:\/\/matis.is\/en\/greinar\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\/","title":{"rendered":"State of the Art in Benefit-Risk Analysis: Economics and Marketing-Finance"},"content":{"rendered":"<p id=\"sp010\">All market participants (eg, investors, producers, consumers) accept a certain level of risk as necessary to achieve certain benefits. There are many types of risk including price, production, financial, institutional, and individual human risks. All these risks should be effectively managed in order to derive the utmost of benefits and avoid disruption and \/ or catastrophic economic consequences for the food industry. The identification, analysis, determination, and understanding of the benefit \u2013 risk trade-offs of market participants in the food markets may help policy makers, financial analysts and marketers to make well-informed and effective corporate investment strategies in order to deal with highly uncertain and risky situations.<\/p>\n\n\n\n<p id=\"sp015\">In this paper, we discuss the role that benefits and risks play in the formation of the decision-making process of market-participants, who are engaged in the upstream and downstream stages of the food supply chain. In addition, we review the most common approaches (expected utility model and psychometrics) for measuring benefit \u2013 risk trade-offs in the economics and marketing-finance literature, and different factors that may affect the economic behavior in the light of benefit \u2013 risk analyzes .<\/p>\n\n\n\n<p id=\"sp020\">Building on the findings of our review, we introduce a conceptual framework to study the benefit \u2013 risk behavior of market participants. Specifically, we suggest the decoupling of benefits and risks into the separate components of utilitarian benefits, hedonic benefits, and risk attitude and risk perception, respectively. Predicting and explaining how market participants in the food industry form their overall attitude in light of benefit \u2013 risk trade-offs may be critical for policy-makers and managers who need to understand the drivers of the economic behavior of market participants with respect to production, marketing and consumption of food products.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0278691511004273\">Link to article<\/a><\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>All market participants (e.g., investors, producers, consumers) accept a certain level of risk as necessary to achieve certain benefits. There [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-greinar.php","format":"standard","meta":{"_acf_changed":false,"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[2011],"tags":[],"class_list":["post-38364","post","type-post","status-publish","format-standard","hentry","category-greinar"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>State of the Art in Benefit-Risk Analysis: Economics and Marketing-Finance - Mat\u00eds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/matis.is\/en\/greinar\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State of the Art in Benefit-Risk Analysis: Economics and Marketing-Finance - Mat\u00eds\" \/>\n<meta property=\"og:description\" content=\"All market participants (e.g., investors, producers, consumers) accept a certain level of risk as necessary to achieve certain benefits. There [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/matis.is\/en\/greinar\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\/\" \/>\n<meta property=\"og:site_name\" content=\"Mat\u00eds\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/matisiceland\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-07T12:55:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-07T12:55:35+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@matisiceland\" \/>\n<meta name=\"twitter:site\" content=\"@matisiceland\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/matis.is\\\/greinar\\\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/matis.is\\\/greinar\\\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/matis.is\\\/#\\\/schema\\\/person\\\/33b92c850c915c93e67f291e3381a49a\"},\"headline\":\"State of the Art in Benefit-Risk Analysis: Economics and Marketing-Finance\",\"datePublished\":\"2021-06-07T12:55:32+00:00\",\"dateModified\":\"2021-06-07T12:55:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/matis.is\\\/greinar\\\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\\\/\"},\"wordCount\":290,\"publisher\":{\"@id\":\"https:\\\/\\\/matis.is\\\/#organization\"},\"articleSection\":[\"Greinar\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/matis.is\\\/greinar\\\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\\\/\",\"url\":\"https:\\\/\\\/matis.is\\\/greinar\\\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\\\/\",\"name\":\"State of the Art in Benefit-Risk Analysis: Economics and Marketing-Finance - Mat\u00eds\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/matis.is\\\/#website\"},\"datePublished\":\"2021-06-07T12:55:32+00:00\",\"dateModified\":\"2021-06-07T12:55:35+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/matis.is\\\/greinar\\\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\\\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/matis.is\\\/greinar\\\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/matis.is\\\/greinar\\\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/matis.is\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"State of the Art in Benefit-Risk Analysis: Economics and Marketing-Finance\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/matis.is\\\/#website\",\"url\":\"https:\\\/\\\/matis.is\\\/\",\"name\":\"Mat\u00eds\",\"description\":\"Ver\u00f0m\u00e6task\u00f6pun, matv\u00e6la\u00f6ryggi og l\u00fd\u00f0heilsa\",\"publisher\":{\"@id\":\"https:\\\/\\\/matis.is\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/matis.is\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/matis.is\\\/#organization\",\"name\":\"Mat\u00eds ohf.\",\"url\":\"https:\\\/\\\/matis.is\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\\\/\\\/matis.is\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/matis.is\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/matis_logo_blatthvitt.png\",\"contentUrl\":\"https:\\\/\\\/matis.is\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/matis_logo_blatthvitt.png\",\"width\":1507,\"height\":1507,\"caption\":\"Mat\u00eds ohf.\"},\"image\":{\"@id\":\"https:\\\/\\\/matis.is\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/matisiceland\",\"https:\\\/\\\/x.com\\\/matisiceland\",\"https:\\\/\\\/www.instagram.com\\\/matisiceland\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/matisiceland\\\/\",\"https:\\\/\\\/www.youtube.com\\\/channel\\\/UCY-frt3uTqgVZW-DLjoo5bA\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/matis.is\\\/#\\\/schema\\\/person\\\/33b92c850c915c93e67f291e3381a49a\",\"name\":\"admin\",\"sameAs\":[\"https:\\\/\\\/matis.mareframe.eu\"],\"url\":\"https:\\\/\\\/matis.is\\\/en\\\/author\\\/thormodurmatis-is\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"State of the Art in Benefit-Risk Analysis: Economics and Marketing-Finance - Mat\u00eds","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/matis.is\/en\/greinar\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\/","og_locale":"en_GB","og_type":"article","og_title":"State of the Art in Benefit-Risk Analysis: Economics and Marketing-Finance - Mat\u00eds","og_description":"All market participants (e.g., investors, producers, consumers) accept a certain level of risk as necessary to achieve certain benefits. There [&hellip;]","og_url":"https:\/\/matis.is\/en\/greinar\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\/","og_site_name":"Mat\u00eds","article_publisher":"https:\/\/www.facebook.com\/matisiceland","article_published_time":"2021-06-07T12:55:32+00:00","article_modified_time":"2021-06-07T12:55:35+00:00","author":"admin","twitter_card":"summary_large_image","twitter_creator":"@matisiceland","twitter_site":"@matisiceland","twitter_misc":{"Written by":"admin","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/matis.is\/greinar\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\/#article","isPartOf":{"@id":"https:\/\/matis.is\/greinar\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\/"},"author":{"name":"admin","@id":"https:\/\/matis.is\/#\/schema\/person\/33b92c850c915c93e67f291e3381a49a"},"headline":"State of the Art in Benefit-Risk Analysis: Economics and Marketing-Finance","datePublished":"2021-06-07T12:55:32+00:00","dateModified":"2021-06-07T12:55:35+00:00","mainEntityOfPage":{"@id":"https:\/\/matis.is\/greinar\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\/"},"wordCount":290,"publisher":{"@id":"https:\/\/matis.is\/#organization"},"articleSection":["Greinar"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/matis.is\/greinar\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\/","url":"https:\/\/matis.is\/greinar\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\/","name":"State of the Art in Benefit-Risk Analysis: Economics and Marketing-Finance - Mat\u00eds","isPartOf":{"@id":"https:\/\/matis.is\/#website"},"datePublished":"2021-06-07T12:55:32+00:00","dateModified":"2021-06-07T12:55:35+00:00","breadcrumb":{"@id":"https:\/\/matis.is\/greinar\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/matis.is\/greinar\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/matis.is\/greinar\/state-of-the-art-in-benefit-risk-analysis-economics-and-marketing-finance\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/matis.is\/"},{"@type":"ListItem","position":2,"name":"State of the Art in Benefit-Risk Analysis: Economics and Marketing-Finance"}]},{"@type":"WebSite","@id":"https:\/\/matis.is\/#website","url":"https:\/\/matis.is\/","name":"Mat\u00eds","description":"Value creation, food security and public health","publisher":{"@id":"https:\/\/matis.is\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/matis.is\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/matis.is\/#organization","name":"Mat\u00eds ohf.","url":"https:\/\/matis.is\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/matis.is\/#\/schema\/logo\/image\/","url":"https:\/\/matis.is\/wp-content\/uploads\/2021\/02\/matis_logo_blatthvitt.png","contentUrl":"https:\/\/matis.is\/wp-content\/uploads\/2021\/02\/matis_logo_blatthvitt.png","width":1507,"height":1507,"caption":"Mat\u00eds ohf."},"image":{"@id":"https:\/\/matis.is\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/matisiceland","https:\/\/x.com\/matisiceland","https:\/\/www.instagram.com\/matisiceland\/","https:\/\/www.linkedin.com\/matisiceland\/","https:\/\/www.youtube.com\/channel\/UCY-frt3uTqgVZW-DLjoo5bA"]},{"@type":"Person","@id":"https:\/\/matis.is\/#\/schema\/person\/33b92c850c915c93e67f291e3381a49a","name":"admin","sameAs":["https:\/\/matis.mareframe.eu"],"url":"https:\/\/matis.is\/en\/author\/thormodurmatis-is\/"}]}},"spectra_custom_meta":{"_edit_lock":["1623070538:5"],"_wp_page_template":["template-greinar.php"],"_edit_last":["5"],"_yoast_wpseo_content_score":["30"],"_yoast_wpseo_estimated-reading-time-minutes":["2"],"authors":["Kalogeras, N., Odekerken, G., Pennings, J.M.E.,\u00a0Gunnlaugsd\u00f3ttir, H., Holm, F., Leino, O., Luteijn, J.M.,\u00a0Magn\u00fasson, S.H., Pohjolah, M.V., Ueland, \u00d8., Rompelberg, C., Tijhuis, M.J., Tuomisto, J., White, B.C., Verhagen, H."],"_authors":["field_60a287218a0ab"],"publication":["Food and Chemical Toxicology"],"_publication":["field_60a287738a0ac"],"edition":["50(1)"],"_edition":["field_60a287918a0ad"],"page":["56-66"],"_page":["field_60a2879f8a0ae"],"year":["2012"],"_year":["field_60a287a58a0af"],"link":[""],"_link":["field_60a287aa8a0b0"],"orcidid":[""],"_orcidid":["field_60a287c28a0b1"],"matis_tengilidur":["a:1:{i:0;s:5:\"28084\";}"],"_matis_tengilidur":["field_60a65b61f4532"],"tengilidur":[""],"_tengilidur":["field_5ef905e0538b2"],"_yoast_wpseo_primary_category":["2011"],"wpmm_postgrid_views":["427"],"_uag_css_file_name":["uag-css-38364.css"],"_uag_page_assets":["a:9:{s:3:\"css\";s:263:\".uag-blocks-common-selector{z-index:var(--z-index-desktop) !important}@media (max-width: 976px){.uag-blocks-common-selector{z-index:var(--z-index-tablet) !important}}@media (max-width: 767px){.uag-blocks-common-selector{z-index:var(--z-index-mobile) !important}}\n\";s:2:\"js\";s:0:\"\";s:18:\"current_block_list\";a:6:{i:0;s:14:\"core\/paragraph\";i:1;s:12:\"core\/buttons\";i:2;s:11:\"core\/button\";i:3;s:12:\"core\/heading\";i:4;s:12:\"core\/columns\";i:5;s:11:\"core\/column\";}s:8:\"uag_flag\";b:0;s:11:\"uag_version\";s:10:\"1776182148\";s:6:\"gfonts\";a:0:{}s:10:\"gfonts_url\";s:0:\"\";s:12:\"gfonts_files\";a:0:{}s:14:\"uag_faq_layout\";b:0;}"]},"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"trp-custom-language-flag":false},"uagb_author_info":{"display_name":"admin","author_link":"https:\/\/matis.is\/en\/author\/thormodurmatis-is\/"},"uagb_comment_info":0,"uagb_excerpt":"All market participants (e.g., investors, producers, consumers) accept a certain level of risk as necessary to achieve certain benefits. There [&hellip;]","_links":{"self":[{"href":"https:\/\/matis.is\/en\/wp-json\/wp\/v2\/posts\/38364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/matis.is\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/matis.is\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/matis.is\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/matis.is\/en\/wp-json\/wp\/v2\/comments?post=38364"}],"version-history":[{"count":2,"href":"https:\/\/matis.is\/en\/wp-json\/wp\/v2\/posts\/38364\/revisions"}],"predecessor-version":[{"id":38366,"href":"https:\/\/matis.is\/en\/wp-json\/wp\/v2\/posts\/38364\/revisions\/38366"}],"wp:attachment":[{"href":"https:\/\/matis.is\/en\/wp-json\/wp\/v2\/media?parent=38364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/matis.is\/en\/wp-json\/wp\/v2\/categories?post=38364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/matis.is\/en\/wp-json\/wp\/v2\/tags?post=38364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}