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This paper examines whether target returns act as specific goals that impact risk-taking when individuals make investment decisions.

Using an experimental setting, the authors assign either a low or a high target return to participants and ask them to make independent investment decisions as the risk-free rate fluctuates around their target return and, for some of them, becomes negative.

Building on cumulative prospect theory, the authors find that the prevailing reference point of participants is the target return, regardless of the level of the risk-free rate. This result still holds even when the risk-free rate is negative, suggesting that (1) the target return drives risk-taking more than does a zero-threshold and (2) negative rates are limited as a tool to stimulate appetites for risk. In a follow-up study, the authors show that these conclusions remain valid when the target return is endogenously determined.

The authors' original approach, which pioneers the use of target returns in both the positive and negative interest rate contexts, provides insightful results about the “reach for yield” among regular people.

This introduction provides an overview of the discourse on alternative agrifood movements (AAMs) to (1) ascertain the degree of convergence and divergence around a common ethos of alterity and (2) context the chapters of the book. AAMs have increased in recent years in response to the growing legitimation crisis of the conventional agrifood system. Some agrifood researchers argue that AAMs represent the vanguard movement of our time, a formidable counter movement to global capitalism. Other authors note a pattern of blunting of the transformative qualities of AAMs due to conventionalization and mainstreaming in the market. The literature on AAMs is organized following a Four Questions in Agrifood Studies (Constance, 2008) framework. The section for each Question ends with a case study to better illustrate the historical dynamics of an AAM. The literature review ends with a summary of the discourse applied to the research question of the book: Are AAMs the vanguard social movement of our time? The last section of this introduction provides a short description of each contributing chapter of the book, which is divided into five sections: Introduction; Theoretical and Conceptual Framings; Food Sovereignty Movements; Alternative Movements in the Global North; and Conclusions.