Michele Baggio received a PhD. in Agricultural and Resource Economics from the University of Maryland. From 2010 to 2013 he worked as a senior researcher and lecturer at the Swiss Institute of Technology (ETH) in Zurich, Switzerland. In 2013 he joined the Department of Economics and the Maritime Studies Program in Avery Point at the University of Connecticut, USA.
Areas of Expertise (4)
Environmental and Resource Economics
University of Maryland: Ph.D., Agricultural & Resource Economics 2012
University of York: M.Sc., Environmental Economics 2001
University of Verona: B.Sc., Economics 1999
Media Appearances (5)
Legal marijuana lifts snack sales
Biz Journals online
Chip sales increased 5.3 percent, cookie sales were up 4.1 percent, and ice cream purchases increased 3.1 percent, increases that Michele Baggio, University of Connecticut assistant professor of economics called statistically and economically significant.
Behold, new research suggests the munchies are real
Big Think online
Don't take a few clinical trials as the final word on this. A new paper published on February 14 in the Social Science Research Network, by Michele Baggio (assistant professor of economics, University of Connecticut) and Alberto Chong (professor at Andrew Young School of Policy Studies, Department of Economics), argues that in over 2,000 U.S. counties with shifting marijuana laws, the munchies are real...
Medical-Marijuana Legalization Leads to Baby Boomlet, Paper Says
The Wall Street Journal online
According to the National Conference of State Legislatures, 33 states and Washington, D.C., allow the once verboten drug to be used for various health-related reasons. And in these states, the researchers—Michele Baggio and David Simon of the University of Connecticut and Alberto Chong of Georgia State University—found an uptick in marijuana use...
Companies Betting on Pot May Be Worse Off When the Smoke Clears
The Wall Street Journal online
The cannabis investing frenzy has reached a fever pitch. With recreational marijuana use becoming legal in Canada next Wednesday and legalization efforts in the U.S. making steady progress, it seems like everyone from former Speaker of the House John Boehner to singer Jimmy Buffett wants a piece of the action.
Medical marijuana took a bite out of alcohol sales. Recreational pot could take an even bigger one.
Washington Post online
Alcoholic beverage sales fell by 15 percent following the introduction of medical marijuana laws in a number of states, according to a new working paper by researchers at the University of Connecticut and Georgia State University.
Optimal Fishery Management with Regime Shifts: An Assessment of Harvesting StrategiesEnvironmental and Resource Economics
2015 This paper compares outcomes from informed and uninformed harvesting strategies for a fish stock with switching dynamics where the probability of switching is influenced by climate. Using data on sea-surface temperature anomalies, the impacts of climate on the conservation and the welfare that can be extracted from the stock are investigated.
On the Consumer Value of Diversity: An Application to Italian FishJournal of Agricultural Economics
2011 This article investigates the consumer value of diversity both conceptually and empirically. It proposes a measure of diversity value based on a benefit function. It shows that the consumer value of diversity can arise from complementarity and/or convexity effects among consumer goods. The usefulness of the approach is illustrated by an application to fish in Italy. The investigation illustrates the role played by both convexity and complementarity in the valuation of diversity. The empirical evidence shows the importance of dynamics. It also documents how the value of diversity varies depending on the bundles considered.
On Duality and the Benefit FunctionJournal of Economics
2009 This paper investigates the duality relationships between Marshallian and compensated price-dependent consumer demands. We associate the compensated price-dependent demand with Luenberger’s benefit function, which has nice aggregation properties and provides a general basis for conducting welfare analysis. As an analog to the well-known “Slutsky equation,” we derive a “Luenberger equation” establishing the general relationships between Marshallian and compensated price-dependent slopes.
On the consumer value of complementarity: a benefit function approachAmerican Journal of Agricultural Economics
2009 The article develops a conceptual model of the consumer value of complementarity and illustrates its usefulness in an application to fisheries. Complementarity arises when some goods have a positive effect on the marginal value of other goods. We propose a measurement of the value of complementarity based on the benefit function. Our econometric analysis of fish consumption in Italy examines these issues, with special attention given to dynamics. Our results show that, while short-run fish demand is characterized by substitution relationships, complementarity does develop in the intermediate run and in the long run.
On the Consumer Value of Complementarity: A Benefit Function ApproachAmerican Journal of Agricultural Economics
2009 The article develops a conceptual model of the consumer value of complementarity and illustrates its usefulness in an application to fisheries. Complementarity arises when some goods have a positive effect on the marginal value of other goods. We propose a measurement of the value of complementarity based on the benefit function. Our econometric analysis of fish consumption in Italy examines these issues, with special attention given to dynamics.