The discovery and sudden spread of the novel coronavirus (COVID-19) exposed individuals to a great uncertainty about the potential health and economic ramifications of the virus, which triggered a surge in demand for information about COVID-19. To understand financial market implications of individuals’ behavior upon such uncertainty, we explore the relationship between Google search queries related to COVID-19—information search that reflects one’s level of concern or risk perception—and the performance of major financial indices. The empirical analysis based on the Bayesian inference of a structural vector autoregressive model shows that one unit increase in the popularity of COVID-19-related global search queries, after controlling for COVID-19 cases, results in 0.038 – 0.069 % of a cumulative decline in global financial indices after one day and 0.054 – 0.150 % of a cumulative decline after one week.

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PurposeThis paper examines determinants of consumer interest in organic versions of wheat products by analyzing differences in selected factors among groups of consumers, distinguished by their likelihood of purchasing organic wheat products. The analysis is performed for bread and cookies to examine whether the findings are different for virtue and vice food categories.Design/methodology/approachA consumer survey was conducted across the western United States in 2017. Latent class modeling is used to identify groups of “very likely,” “likely” and “unlikely” consumers of organic wheat products, based on preferences for organic wheat products and attitudes toward organics in general.FindingsConsumer preferences and willingness to pay (WTP) for organic foods depend on product type. Additionally, significant differences are found across consumer groups—regardless of product type—in the importance they place on labels and product characteristics, WTP, reasons for (not) purchasing organic products and consumption limitations.Research limitations/implicationsThe group of organic consumers may be underrepresented in the sample. In addition, since actual behavior was not observed—respondents provided only stated preferences or responses to hypothetical questions—the results should be interpreted carefully.Originality/valueFew studies have examined preferences for organic wheat products across consumer groups. This study is also the first to examine the connection between wheat/gluten intolerance/avoidance and preference for organic versions of wheat products. Finally, this study adds to the limited literature on consumer preferences for organic virtue and vice food products.

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Large, landscape-scale national monuments have long been controversial. It has been claimed that large monuments harm local economies by restricting growth of the grazing, timber, mining, and energy industries. Others have asserted that large monuments aid economic growth by reducing reliance on volatile commodity markets and fostering tourism growth. In this study, we use a synthetic control approach to measure the average causal effect of nine national monument designations on county-level per capita income. We find no evidence that monument designation affected per capita income in any of 20 counties hosting nine large (>50,000 acres) national monuments established under the Antiquities Act (six monuments) or by legislative action (three monuments). The broad economic claims of both advocates and critics of large national monuments have little empirical support. The absence of a designation effect for large national monuments is likely due to the attributes of federal land and the legal constraints under which it is managed.

In this article, we propose an exponentially weighted moving average (EWMA) control chart for the shape parameter β of Weibull processes. The chart is based on a moving range when a single measurement is taken per sampling period. We consider both one-sided (lower-sided and upper-sided) and two-sided control charts. We perform simulations to estimate control limits that achieve a specified average run length (ARL) when the process is in control. The control limits we derive are ARL unbiased in that they result in ARL that is shorter than the stable-process ARL when β has shifted. We also perform simulations to determine Phase I sample size requirements if control limits are based on an estimate of β. We compare the ARL performance of the proposed chart to that of the moving range chart proposed in the literature.

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