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An Analysis Of The Link Between Ethanol, Energy, And Crop Markets, Simla Tokgoz, Amani E. Elobeid Nov 2006

An Analysis Of The Link Between Ethanol, Energy, And Crop Markets, Simla Tokgoz, Amani E. Elobeid

CARD Working Papers

This study analyzes the impact of price shocks in three input and output markets critical to ethanol: gasoline, corn, and sugar. We investigate the impact of these shocks on ethanol and related agricultural markets in the United States and Brazil. We find that the composition of a country's vehicle fleet determines the direction of the response of ethanol consumption to changes in the gasoline price. We also find that a change in feedstock costs affects the profitability of ethanol producers and the domestic ethanol price. In Brazil, where two commodities compete for sugarcane, changes in the sugar market affect ...


Economies Of Feedlot Scale, Biosecurity, Investment, And Endemic Livestock Disease, David A. Hennessy Sep 2006

Economies Of Feedlot Scale, Biosecurity, Investment, And Endemic Livestock Disease, David A. Hennessy

CARD Working Papers

Infectious livestock disease creates externalities for proximate animal production enterprises. The distribution of production scale within a region should influence and be influenced by these disease externalities. Taking the distribution of the unit costs of stocking an animal as primitive, we show that an increase in the variance of these unit costs reduces consumer surplus. The effect on producer surplus, total surplus, and animal concentration across feedlots depends on the demand elasticity. A subsidy to smaller herds can reduce social welfare and immiserize the farm sector by increasing the extent of disease. While Nash behavior involves excessive stocking, disease effects ...


U.S. Universities' Net Returns From Patenting And Licensing: A Quantile Regression Analysis, Harun Bulut, Giancarlo Moschini Sep 2006

U.S. Universities' Net Returns From Patenting And Licensing: A Quantile Regression Analysis, Harun Bulut, Giancarlo Moschini

CARD Working Papers

In line with the rights and incentives provided by the Bayh-Dole Act of 1980, U.S. universities have increased their involvement in patenting and licensing activities through their own technology transfer offices. Only a few U.S. universities are obtaining large returns, however, whereas others are continuing with these activities despite negligible or negative returns. We assess the U.S. universities' potential to generate returns from licensing activities by modeling and estimating quantiles of the distribution of net licensing returns conditional on some of their structural characteristics. We find limited prospects for public universities without a medical school everywhere in ...


Agricultural Production Clubs: Viability And Welfare Implications, Corinne Langinier, Bruce A. Babcock Aug 2006

Agricultural Production Clubs: Viability And Welfare Implications, Corinne Langinier, Bruce A. Babcock

CARD Working Papers

Consumers are in general less informed than producers about the quality of agricultural goods. To reduce he information gap, consumers can rely on standards (e.g., certification) that ensure quality and origin of the goods. These costly standards can be adopted by a group of producers of high-quality goods. We study the formation of such a group that we model as a club. We first investigate under what circumstances a club of a given size is desirable for producers, and for society. We then analyze the optimal size of the club when there exists a direct barrier to entry, and ...


How To Promote Quality Perception In Wine Markets: Brand Advertising Or Geographical Indication?, Chengyan Yue, Stéphan Marette, John C. Beghin Aug 2006

How To Promote Quality Perception In Wine Markets: Brand Advertising Or Geographical Indication?, Chengyan Yue, Stéphan Marette, John C. Beghin

CARD Working Papers

In the context of the wine industry, we investigate producers' choice between geographical indications and brand advertising to convey information to consumers. Producers also decide whether or not to select an effort level for improving the quality of their products. We show that if this effort level is selected, a producer will prefer to rely on brand advertising for promoting its products and setting up its own reputation. Despite allowing the cost of promotion to be shared, a geographical indication does not sufficiently reward the effort to improve quality. Finally, the selection of both instruments by producers is examined.


A Study Of The Factors That Influence Consumer Attitudes Toward Beef Products Using The Conjoint Market Analysis Tool, Brian E. Mennecke, Anthony M. Townsend, Dermot J. Hayes, Steven M. Lonergan Aug 2006

A Study Of The Factors That Influence Consumer Attitudes Toward Beef Products Using The Conjoint Market Analysis Tool, Brian E. Mennecke, Anthony M. Townsend, Dermot J. Hayes, Steven M. Lonergan

CARD Working Papers

This study utilizes an analysis technique commonly used in marketing, the conjoint method, to examine the relative utilities of a set of beef steak characteristics considered by a national sample of 1,432 U.S. consumers, as well as additional localized samples representing undergraduate students at a business college and in an animal science department. The analyses indicate that among all respondents, region of origin is by far the most important characteristic; this is followed by animal breed, traceability, the animal feed used, and beef quality. Alternatively, the cost of cut, farm ownership, the non-use of growth promoters, and whether ...


Vertical Product Differentiation, Entry-Deterrence Strategies, And Entry Qualities, Yong-Hwan Noh, Giancarlo Moschini Apr 2006

Vertical Product Differentiation, Entry-Deterrence Strategies, And Entry Qualities, Yong-Hwan Noh, Giancarlo Moschini

CARD Working Papers

We analyze the potential entry of a new product into a vertically differentiated market. Here the entry-deterrence strategies of the incumbent firm rely on "limit qualities." The model assumes quality-dependent marginal production costs and considers sequential quality choices by an incumbent and an entrant. Entry-quality decisions and the entry-deterrence strategies are related to the fixed cost necessary for entry and to the degree of consumers' taste for quality. We detail the conditions under which the incumbent increases its quality level to deter entry. Quality-dependent marginal production costs in the model entail the possibility of inferior-quality entry as well. Welfare is ...


Quality And Competition: An Empirical Analysis Across Industries, John M. Crespi, Stéphan Marette Mar 2006

Quality And Competition: An Empirical Analysis Across Industries, John M. Crespi, Stéphan Marette

CARD Working Papers

This paper empirically explores the link between quality and concentration in a cross-section of manufactured goods. Using concentration data and product quality indicators, an ordered probit estimation explores the impact of concentration on quality that is defined as an index of quality characteristics. The results demonstrate that market concentration and quality are positively correlated across different industries. When industry concentration increases, the likelihood of the product being higher quality increases and the likelihood of observing a lower quality decreases