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We find that Chinese consumers responded strongly to government restrictions during the COVID‐19 crisis. Our event‐study framework shows that emergency declarations raised average food prices by as much as 7.8 standard deviations of the price change distribution, with a much larger effect on non‐perishable vegetable prices (e.g., 17.0 standard deviations for Chinese cabbage prices). The effects of lockdowns were smaller but longer‐lasting. These results suggest that consumers panic bought non‐perishables under emergency declarations while under lockdowns there was a sustained increase in demand for non‐perishables. Such consumer behavior likely caused sizable losses in consumer welfare, especially among poor households. [ABSTRACT FROM AUTHOR]

Seafood is among the most highly traded food commodities, and one will expect trade patterns to be highly dynamic. In this paper, trade duration is investigated for Chinese shrimp exports using firm-level data for the period 2007–2015. In line with the results from the general literature, most trade relationships in the Chinese exports of shrimp are short-lived and influenced by the market as well as product characteristics. The results indicate that it is also important to account for firm-specific characteristics, large firms have more stable trade relationships. It is also worthwhile to note that the firms located within Special Economic Zones (SEZs) have a shorter trade duration than those outside of SEZs, indicating these firms' opportunistic market behavior. [ABSTRACT FROM AUTHOR]

The article provides information on Chinese seafood imports and reexports. Topics discussed include features of global seafood trade that hamper efforts to promote sustainability, improved competitiveness of Chinese manufacturing in general, and reason that Chinese domestic demand is driving massive Chinese imports.

Summary: In this article, we discuss an infinite horizon optimal control of the stochastic system with partial information, where the state is governed by a mean‐field stochastic differential delay equation driven by Teugels martingales associated with Lévy processes and an independent Brownian motion. First, we show the existence and uniqueness theorem for an infinite horizon mean‐field anticipated backward stochastic differential equation driven by Teugels martingales. Then applying different approaches for the underlying system, we establish two classes of stochastic maximum principles, which include two necessary conditions and two sufficient conditions for optimality, under a convex control domain. Moreover, compared with the finite horizon optimal control, we add the transversality conditions to the two kinds of stochastic maximum principles. Finally, using the stochastic maximum principle II, we settle an infinite horizon optimal consumption problem driven by Teugels martingales associated with Gamma processes. [ABSTRACT FROM AUTHOR]

China is the world's largest seafood exporter, and changes in its seafood trade patterns have global impacts. In this article, China's trade patterns are investigated using a gravity-type model. To examine whether trade patterns vary by product form and species group, 13 different models are estimated. The results indicate substantial variation in trade patterns across product categories. In particular, seafood in the live and fresh product forms are a separate group for which trade is significantly more influenced by distance and income level, while the size of the economy and region significantly affects the trade of products in other forms. Particularly notable is the lower unit value of the products shipped to Africa. [ABSTRACT FROM AUTHOR]

Seafood is a highly traded food group. Moreover, the trade is controversial, and particularly in relation to developing countries. To proponents, trade provides a source of food, nutrition and economic development, while for opponents, it is an example of how the rich take food out of the mouths of the poor. Review articles provide no clear conclusions with respect to the merit of the seafood trade, suggesting that the picture is nuanced and that case studies are important. In this study we will investigate seafood availability in Nigeria for the period 2000 to 2020 with a focus on the origin of the seafood by estimating apparent consumption. Our results indicate that Nigeria is a country where seafood imports are highly important for seafood availability. Imports provide 42% of the seafood consumed in 2020, while exports are negligible. In common with imports, domestic fisheries landings and aquaculture production have increased since the turn of the century. The Netherlands is the most important source country for Nigerian seafood imports, and most imports originate in Europe. Imports from neighboring countries in Africa are highly limited. [ABSTRACT FROM AUTHOR]

In this paper, we deal with a new kind of partially observed nonzero‐sum differential game governed by stochastic differential delay equations. One of the special features is that the controlled system and the utility functionals involve both delays in the state variable and the control variables under different observation equations for each player. We obtain a maximum principle and a verification theorem for the game problem by virtue of Girsanov's theorem and the convex variational method. In addition, based on the theoretical results and Malliavin derivative techniques, we solve a production and consumption choice game problem. [ABSTRACT FROM AUTHOR]

In this paper, we deal with the customers’ equilibrium strategies in a Geo / Geo / 1 queuing system with multiple working vacations. The arriving customers decide whether to join or balk the queuing system depended on the information of the server’s states and the queue length. Based on the reward-cost structure, we obtain the equilibrium balking strategies and socially optimal strategies in three cases of the fully observable queue, the partially observable queue and the unobservable queue. In addition, we provide some numerical experiments to illustrate the influence of the information level on the equilibrium behavior and to compare the customers’ equilibrium and socially optimal strategies. [ABSTRACT FROM AUTHOR]