Behavioral Economics in EU: Meat, ESG, Macroeconomics

Panagiotis Karountzos, Nikolaos T. Giannakopoulos (), Damianos P. Sakas and Kanellos Toudas
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Panagiotis Karountzos: BICTEVAC Laboratory—Business Information and Communication Technologies in Value Chains Laboratory, Department of Agribusiness and Supply Chain Management, School of Applied Economics and Social Sciences, Agricultural University of Athens, 118 55 Athens, Greece
Nikolaos T. Giannakopoulos: BICTEVAC Laboratory—Business Information and Communication Technologies in Value Chains Laboratory, Department of Agribusiness and Supply Chain Management, School of Applied Economics and Social Sciences, Agricultural University of Athens, 118 55 Athens, Greece
Damianos P. Sakas: BICTEVAC Laboratory—Business Information and Communication Technologies in Value Chains Laboratory, Department of Agribusiness and Supply Chain Management, School of Applied Economics and Social Sciences, Agricultural University of Athens, 118 55 Athens, Greece
Kanellos Toudas: BICTEVAC Laboratory—Business Information and Communication Technologies in Value Chains Laboratory, Department of Agribusiness and Supply Chain Management, School of Applied Economics and Social Sciences, Agricultural University of Athens, 118 55 Athens, Greece

Economies, 2025, vol. 13, issue 6, 1-39

Abstract: This study examines the impact of macroeconomic and ESG (Environmental, Social, and Governance) factors on meat consumption in EU countries through a behavioral economics framework. Using panel data from 27 EU countries (2000–2021), the analysis applies Fixed Effects (FE), Random Effects (RE), and Generalized Estimating Equations (GEE) models to identify key drivers of meat consumption. The results reveal that GDP PPP (purchasing power parity) per capita, livestock availability, and methane emissions have a significant positive impact on meat consumption, reflecting the role of economic prosperity and agricultural production in dietary choices. In contrast, unemployment and inflation negatively influence meat consumption, highlighting the importance of economic stability. The GEE model, which corrects for autocorrelation, confirms that methane emissions and GDP PPP per capita remain significant predictors, suggesting that economic growth and environmental impact are critical determinants of dietary behavior. These findings underscore the complex interplay between economic development, sustainability, and consumer behavior, providing valuable insights for policymakers aiming to balance economic growth with environmental goals in the EU.

Keywords: meat consumption; behavioral economics; ESG factors; panel data analysis; random effects model; generalized estimating equations; EU food policy (search for similar items in EconPapers)
JEL-codes: E F I J O Q (search for similar items in EconPapers)
Date: 2025
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