Economics & Finance

Economic Costs and Benefits for Decision-Making in Foodservice
Editor: Amit Sharma, PhD

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Economic Costs and Benefits for Decision-Making in Foodservice

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This informative new volume takes a unique focus and explicitly discusses the financial decision-making in a purely hospitality context. It will cover cost-benefit analysis, decision-making, behavioral finance and economic theories in foodservice management, and their applications in the foodservice value chain contexts. This book synthesizes these major themes to develop new theoretical foundations, presenting valuable findings from the investigation of managerial practices.

The foodservice value chain also has not been comprehensively analyzed until now. The integration of these themes in one volume will provide a unique perspective for not only hospitality researchers but also those in such diverse (though related) fields as agricultural economics, food science, food nutrition, consumer behavior, decision-making, and finance and economics.

Tentative Contents

• Cost-benefit analysis for decision making in foodservice: theoretical perspectives
• Cost analysis and behavioral biases
• Revealed preferences and willingness-to-pay (WTP) and willingness-to-accept compensation (WTA) to estimate benefits
• Methodological aspects of estimating costs and the benefits for decision making

• Application in restaurants
• Application in schools
• Consumer expenditure on eating away from home

• Food safety policies
• Food nutrition policies
• Direct agriculture marketing to foodservices
• Policy frameworks

About the Authors / Editors:
Editor: Amit Sharma, PhD
Professor, Penn State University, University Park, Pennsylvania; President, ICHRIE (2017-18)

Amit Sharma, PhD, is Professor of Hospitality Management/Finance at Penn State University (USA). He is also Director of the Food Decisions Research Laboratory, Visiting Research Associate at the University of Johannesburg (South Africa), a Faculty Fellow of the Teaching and Learning with Technologies (PSU), Affiliate Faculty of the Rock Ethics Institute (PSU), and Editor of the ICHRIE Penn State Research Reports. In addition, he served as President of ICHRIE (2017-18), and Vice President of iAHFME (2016-18). He was formerly an assistant professor at Iowa State University and was recently a visiting scholar at KyungHee University (Seoul, South Korea). He was also recently appointed to be an advisory board member of the African Research Center at Penn State.Dr. Sharma has written many articles published in hospitality journals. Dr. Sharma’s research interests focus on the cost-benefit, and economics of food decisions, and the economic role of hospitality and tourism activity. His research in investigating the economics of food decisions involves the causes and consequences of food choices, particularly within foodservice environments. In particular, research projects with which he is associated focus on the economics of local food systems, food safety, and healthy eating among children, food spending among families, and food supply chain analysis. The Food Decision Research Laboratory, which he directs, facilitates such inquiries. He is also interested in the ethical aspects of food access for children in schools. The U.S. Department of Agriculture and the World Bank have funded his research here in the U.S. and in southern Africa.

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