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Articles 1 - 8 of 8
Full-Text Articles in Social and Behavioral Sciences
Analysis Of Beef Producers’ Risk Management Perceptions And Desire For Further Risk Management Education, David C. Hall, Thomas O. Knight, Keith H. Coble, Alan E. Baquet, George F. Patrick
Analysis Of Beef Producers’ Risk Management Perceptions And Desire For Further Risk Management Education, David C. Hall, Thomas O. Knight, Keith H. Coble, Alan E. Baquet, George F. Patrick
Department of Agricultural Economics: Faculty Publications
Beef cattle producers were surveyed in Texas and Nebraska to investigate perceptions of sources of risk, the effectiveness of risk management strategies, and interest in further risk management education, particularly production risk, using probit analysis. Important decision variables identified are age, prior use of risk management tools, previous attendances of risk management education, and risk aversion. Severe drought and cattle price variability are identified as primary risk factors with potential to affect farm income. Extremely cold weather and disease are of less importance. Understocking pasture and storing hay are perceived most effective as risk management options.
Extension Educators' Perceptions Of Risk Management Training Needs, Steven W. Martin, Oscar Vergara, George F. Patrick, Keith H. Coble, Thomas O. Knight, Alan Baquet
Extension Educators' Perceptions Of Risk Management Training Needs, Steven W. Martin, Oscar Vergara, George F. Patrick, Keith H. Coble, Thomas O. Knight, Alan Baquet
Department of Agricultural Economics: Faculty Publications
Risk management is a key issue for farmers and also receives significant national and local political attention. Because much of the outreach in this area is delivered through the Cooperative Extension Service, research on how Extension educators perceive their clients' needs and their own demand for additional training is important for educational programming.
The Risk Management Agency (RMA) and the Cooperative State Research, Education and Extension Service (CSREES) of the United States Department of Agriculture (USDA) initiated a risk management education competitive grants program during 1998. The information reported here is partial output from one of the surveys conducted by …
Costly (Dis)Agreement: Optimal Intervention, Income Redistribution, And Transfer Efficiency Of Output Quotas In The Presence Of Cheating, Konstantinos Giannakas, Murray Fulton
Costly (Dis)Agreement: Optimal Intervention, Income Redistribution, And Transfer Efficiency Of Output Quotas In The Presence Of Cheating, Konstantinos Giannakas, Murray Fulton
Department of Agricultural Economics: Faculty Publications
This study builds on previous work by Giannakas and Fulton (2003, 2000) on the economics of output quotas in the presence of cheating by examining the efficiency of the policy in transferring income to producers as well as the optimal regulatory response to enforcement costs and farmer noncompliant behavior in a decentralized policy making environment. Analytical results show that enforcement costs and cheating change the transfer efficiency of output quotas, the level of intervention that transfers a given surplus to producers, the socially optimal income redistribution, and the social welfare from intervention. The incidence of the policy is shown to …
Strategic Labeling And Trade Of Gmos, Luc Veyssiere, Konstantinos Giannakas
Strategic Labeling And Trade Of Gmos, Luc Veyssiere, Konstantinos Giannakas
Department of Agricultural Economics: Faculty Publications
The emergence of agricultural biotechnology and the subsequent introduction of genetically modified organisms (GMOs) into the food system have been among the most controversial issues surrounding the increasingly scrutinized agri-food system. They have received considerable attention in the economics literature with the main focus being on the optimal regulatory response to products of biotechnology. This paper builds on the literature on the regulation of products of biotechnology by placing the analysis of labeling decisions in a multi-country context. Specifically, the objective of this study is to examine the effect of the strategic interdependence between countries on their regulatory responses to …
Tough Love: Optimal Enforcement Of Output Quotas In The Presence Of Cheating, Konstantinos Giannakas, Murray Fulton
Tough Love: Optimal Enforcement Of Output Quotas In The Presence Of Cheating, Konstantinos Giannakas, Murray Fulton
Department of Agricultural Economics: Faculty Publications
This study builds on the literature on the economics of output quotas in the presence of cheating. We extend previous work by Giannakas and Fulton (2000a) by examining the decisions of the agency responsible for the enforcement of output quotas in a decentralized policy-making structure. Enforcement policy design is modeled as a sequential game between the agency that determines the enforcement of the quota program (designed by a regulator), and farmers who make production decisions. Analytical results show that the level of enforcement depends on the size of the enforcement costs and the political preferences of the enforcement agency - …
Captive Supplies And The Spot Market Price Of Fed Cattle: The Plant-Level Relationship, John R. Schroeter, Azzeddine Azzam
Captive Supplies And The Spot Market Price Of Fed Cattle: The Plant-Level Relationship, John R. Schroeter, Azzeddine Azzam
Department of Agricultural Economics: Faculty Publications
Numerous articles in the agricultural economics literature investigate the empirical relationship between the spot market price of fed cattle and the volume of packers’ precommitted, or “captive,” supplies of cattle. In this article, we use an extensive data set on the cattle procurement activities of four large packing plants in the Texas Panhandle from early 1995 through mid-1996 to examine this relationship at the plant-level. We find evidence to support the hypothesis that plants that anticipate near-term future deliveries of captive supply cattle that are high relative to their regional-market rivals’ degrees of reliance on captive supplies tend to pay …
Information Pooling And Collusion: Implications For The Livestock Mandatory Reporting Act, Kenneth Njoroge
Information Pooling And Collusion: Implications For The Livestock Mandatory Reporting Act, Kenneth Njoroge
Department of Agricultural Economics: Faculty Publications
This paper develops a conceptual model that analyzes the impact of increasing market transparency under the Livestock Mandatory Reporting Act of 1999 on the incentives for collusion in the U.S. meatpacking industry. More than likely, meatpackers will have asymmetric priors regarding the distribution of livestock prices. Moreover, they lack the incentives to voluntarily reveal their real priors. Thus, the enforcer of the Act faces a problem of asymmetric information regarding the informativeness of publicly disclosed market reports relative to that of packers’ priors. Analytical results predict that divergent priors of Bayesian packers can be updated by more informative market reports, …
Agricultural Land Ownership And Tenure Patterns In Nebraska, Bruce B. Johnson
Agricultural Land Ownership And Tenure Patterns In Nebraska, Bruce B. Johnson
Department of Agricultural Economics: Faculty Publications
Agricultural land in Nebraska is a significant asset of wealth and a key economic input into the state’s economy. It is no mere coincidence that Nebraska consistently ranks fourth among the 50 states in total cash receipts from farm marketings while also ranking fourth in land acreage in farms and third in terms of irrigated acreage. Consequently, it is of considerable importance to identify and understand the basic patterns of land ownership and tenure that exist within the state.
Every 10 years the U.S. Department of Agriculture conducts a national land ownership survey of landlords as well as farm operators. …