000198056 001__ 198056
000198056 005__ 20180122235821.0
000198056 037__ $$a1000-2016-78110
000198056 041__ $$aen_US
000198056 245__ $$aCap and Food Security
000198056 260__ $$c1997
000198056 269__ $$a1997
000198056 300__ $$a15
000198056 336__ $$aConference Paper/ Presentation
000198056 520__ $$aAlthough the food security discussion has given more emphasis to the individual (household)
level as the proper unit of analysis, it still suffers from applying inappropriate indicators, which are
mostly quantity oriented, instead of relying on more recent results of the literature that it is purchasing
power or real income that matters. In addition, it has not been made clear so far how food security
corresponds to the welfare status of agents. Since food security can more or less be associated with an
uncertain world, this should at least be reflected in the value function of individuals who are generally risk
averse. Therefore, it is proposed in the paper that the measurement of both food security and welfare should
be based on the probability distribution of adjusted real household income over time on a daily basis. Food
security can then be defined as the probability of any agent's real income exceeding a critical level, whereas
the welfare status is measured as the agent's expected utility of this real income. Special formulas are
developed in this context which allow one to calculate producer's and consumer's welfare under price
uncertainty and risk aversion separating the risk response effect from the mean income moving effect of
price fluctuations. In addition, an alternative measurement of protection in a stochastic world, the so called
real protection rate, is proposed which simultaneously covers protection against low prices and volatile
prices. All these indicators should be used when comparing and evaluating food security or food insecurity
of any agent in whatever region. In the paper the concept is utilized to answer the raised question of how
the EU contributes to worldwide food security.
000198056 542__ $$fLicense granted by Allison Hasslen (hassl020@umn.edu) on 2015-02-09T16:05:47Z (GMT):

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000198056 650__ $$aFood Consumption/Nutrition/Food Safety
000198056 650__ $$aFood Security and Poverty
000198056 700__ $$aSchmitz, Michael
000198056 773__ $$o171$$q157
000198056 8564_ $$s1114708$$uhttp://ageconsearch.umn.edu/record/198056/files/agecon-occpapers-1997-018_1_.pdf
000198056 887__ $$ahttp://purl.umn.edu/198056
000198056 909CO $$ooai:ageconsearch.umn.edu:198056$$pGLOBAL_SET
000198056 912__ $$nSubmitted by Allison Hasslen (hassl020@umn.edu) on 2015-02-09T16:13:33Z
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  Previous issue date: 1997
000198056 982__ $$gInternational Association of Agricultural Economists>1997 Occasional Paper Series No. 7
000198056 980__ $$a1000