Open Access. Powered by Scholars. Published by Universities.®
Agricultural and Resource Economics Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 30 of 35
Full-Text Articles in Agricultural and Resource Economics
Implications Of Tomorrow's Environment For Agricultural Economics Programs In Different-Sized Departments And For Non-Land Grant Universities, Ardelle Lundeen
Implications Of Tomorrow's Environment For Agricultural Economics Programs In Different-Sized Departments And For Non-Land Grant Universities, Ardelle Lundeen
Economics Staff Paper Series
This paper focuses on trends in five areas which appear to have significant implications for the future of agricultural economics departments: population changes, changes in the structure of agriculture, the advent of the information society/computer age, work force changes, and changes in higher education. I believe trends in these areas have already affected agricultural economics departments and will continue to do so.
Forward Pricing Grain While Maintaining The Potential To Benefit From Price Increases, Brian H. Schmiesing
Forward Pricing Grain While Maintaining The Potential To Benefit From Price Increases, Brian H. Schmiesing
Economics Commentator
No abstract provided.
Planning For Tomorrow - Today: Project Report - 1987, Burton Pflueger, Julie Hedin
Planning For Tomorrow - Today: Project Report - 1987, Burton Pflueger, Julie Hedin
Economics Staff Paper Series
Almost 200,000 American farm families have turned to the Cooperative Extension Service for intensive financial assistance in the last three years. Extension staff from across the country have also provided similar assistance to approximately 1,450 local government units, 8,500 community organizations, and 9,500 rural nonfarm businesses.
Electric Rate Structures For Irrigation: A Tool For Energy Conservation, Don Taylor, Ardelle Lundeen
Electric Rate Structures For Irrigation: A Tool For Energy Conservation, Don Taylor, Ardelle Lundeen
Economics Staff Paper Series
The major objective of the research performed under this WAPA Conservation and Renewable Energy contract is to determine if electric rate structures can be used to provide incentives to irrigators to make more efficient and or reduced use of electric power. A companion objective is to examine possibilities for electric rate structures to provide incentive for irrigators to use more electric energy for pumping irrigation water.
Some Issues Of Security And Stability Associated With Farmland Leasing, Michael Lundeen, Larry Janssen, Bruce Johnson, Scott Peterson
Some Issues Of Security And Stability Associated With Farmland Leasing, Michael Lundeen, Larry Janssen, Bruce Johnson, Scott Peterson
Economics Staff Paper Series
Several issues of security and stability in farmland leasing arrangements were examined in South Dakota and Nebraska surveys conducted during 1986. These issues are important because farmland leasing is increasingly an integral component of production agriculture and represents one means of decreasing financial risk.
Characteristics Of Farm Reorganization Bankruptcy Filings, Larry Janssen, Brian Schmiesing
Characteristics Of Farm Reorganization Bankruptcy Filings, Larry Janssen, Brian Schmiesing
Economics Staff Paper Series
Although agricultural financial conditions and reorganization options have been analyzed extensively by agricultural economists, an analysis of actual Chapter 11 bankruptcy filing has not previously been completed. This study contains analysis of actual Chapter 11 bankruptcy filings has not previously been completed. This study contains analysis of 219 filings in South Dakota from 1980-85 and documents the financial characteristics of producers and creditors.
Loan Management Controls: Economic Friend Or Foe Of The Irrigator?, Don Taylor
Loan Management Controls: Economic Friend Or Foe Of The Irrigator?, Don Taylor
Economics Staff Paper Series
Irrigator incomes are highly sensitive to yield losses from load management irrigation system power interruptions. Should irrigators therefore avoid load management control programs? Under the conditions examined in this case study the answer is probably "yes" if irrigators are unable to opt out of the load control program during the irrigation season. If discretion to opt out is permitted however the answer is clearly the opposite "no."
Farmland Rental Markets: Current Issues, Practices And Conditions, Bruce Johnson, Larry Janssen, Michael Lundeen
Farmland Rental Markets: Current Issues, Practices And Conditions, Bruce Johnson, Larry Janssen, Michael Lundeen
Economics Staff Paper Series
By virtually every standard. U.S. production agriculture appears in the midst of an accelerated structural change. Financial stress on the heels of the expansionary 1970s political uncertainty over the government's future role in agriculture technological upheaval in the form of increasing productivity in competitive nations and in the emergence of biotechnology are all currently affecting farming and shaping its future. These changes have potentially serious implications for the use. value. and ownership of agricultural land. Consequently debate is keen as to the aggregate impacts of these structural developments on land use (or non-use) and as to their associated effects on …
An Economic Analysis Of Farm Machinery Complement Selection, Todd Lone, Larry Janssen, Herb Allen
An Economic Analysis Of Farm Machinery Complement Selection, Todd Lone, Larry Janssen, Herb Allen
Economics Staff Paper Series
Optimal farm machinery complements were developed, using mixed-integer programming techniques, for several farm sizes, cropping patterns and different methods of financing (lease and credit-purchase). Financing methods did not affect machinery complement selection but did have an impact on farm profitability and cash flow.
Land Prices: An Estimate Based On The Capitalized Value Approach, Brian Schmiesing, Julie Bleyhl
Land Prices: An Estimate Based On The Capitalized Value Approach, Brian Schmiesing, Julie Bleyhl
Economics Staff Paper Series
The paper provides a detailed discussion of how the land bid prices were estimated. First, a description of the farm and its cost structure is provided. Second, the implications of the federal farm program to the revenues and costs of the farming operation are discussed. Third, the development of the farming operation's fixed cost estimates are presented. The final section presents the estimated land values and a discussion of the possible outlook for agricultural farm prices.
Cooperative Theory: A Review Of Recent Literature, Brian Schmiesing, Julie Bleyhl
Cooperative Theory: A Review Of Recent Literature, Brian Schmiesing, Julie Bleyhl
Economics Staff Paper Series
The purpose of this paper is to review the basic economic models used to analyze cooperative organizations. But more importantly the paper attempts to assist the reader in understanding of how cooperatives are either like or unlike Investor-owned businesses. If cooperatives are different, what are the implications of these different member-patrons boards of directors and managment?
An Alternative Portfolio Estimation Procedure As Applied Of Wheat Hedging, Tyler Stowater, Brian Schmiesing
An Alternative Portfolio Estimation Procedure As Applied Of Wheat Hedging, Tyler Stowater, Brian Schmiesing
Economics Staff Paper Series
Previous hedging portfolio estimation have not explicitly tested for the effect of a widening and narrowing basis on the optimal hedge ratios. Evidence was found that winter wheat producers on the northern Great Plains may be able to hedge more effectively on the Minneapolis spring wheat contract.
Lender Attitudes And Practices Towards Agricultural Marketing Alternatives: Implications For The Extension Service, Brian Schmiesing, Mark Edelman, Cindy Swinson, Tyler Stowater
Lender Attitudes And Practices Towards Agricultural Marketing Alternatives: Implications For The Extension Service, Brian Schmiesing, Mark Edelman, Cindy Swinson, Tyler Stowater
Economics Staff Paper Series
This paper presents an analysis of agricultural lender attitudes and practices in the area of agricultural marketing. Survey responses from senior agricultural loan officers in commercial banks, Production Credit Associations (PCAs), and Farmers Home Administration (FmHA) are analyzed. Reviewed first are the implications of lender practices on producer risk management strategies. The survey methodology and results are then presented. Provided in the final section are the research implications to Extension Service agricultural marketing programs.
Mergers--What To Look For, When Should We Study, What Signals A Potential Merger, Brian Schmiesing
Mergers--What To Look For, When Should We Study, What Signals A Potential Merger, Brian Schmiesing
Economics Staff Paper Series
No abstract provided.
A General Overview Of Risk Theory And Its Application To Agriculture, Burton Pflueger
A General Overview Of Risk Theory And Its Application To Agriculture, Burton Pflueger
Economics Staff Paper Series
No abstract provided.
Analysis Of Agricultural Assessment Sales Ratios For Property Tax Purposes During Changing Trends In Land Values, Larry Janssen, Mark Edelman, Cindy Swinson
Analysis Of Agricultural Assessment Sales Ratios For Property Tax Purposes During Changing Trends In Land Values, Larry Janssen, Mark Edelman, Cindy Swinson
Economics Staff Paper Series
Assessment sales ratios are used to "equalize" property tax assessments. Mean soil productivity ratings did not indicate differences between productivity of land sold and all land in the counties examined during periods of rising and declining agricultural land values. Regression results did not indicate underassessment of more productive land in the counties considered.
Basic Cooperative Principles And Methods Of Doing Business, Brian Schmiesing
Basic Cooperative Principles And Methods Of Doing Business, Brian Schmiesing
Economics Staff Paper Series
This paper will first define what a cooperative principle is. The dangerous viewing principles as cooperative objective or independent of rules and discipline are discussed. Second, a set of commonly used cooperative principles are critically examined for their implications for cooperatives as business organizations. Third, an alternative set of principles are advocated to eliminate the confusion currently existing. Finally, a potential role of the Extension Service and vocational agriculture instructors in assisting their clientele in the current crisis is reviewed.
Agricultural Lender Attitudes On Farm Finance Crisis Management Programming By The Cooperative Extension Service, Mark Edelman, Brian Schmiesing, Diane Kolmer, Cindy Swinson
Agricultural Lender Attitudes On Farm Finance Crisis Management Programming By The Cooperative Extension Service, Mark Edelman, Brian Schmiesing, Diane Kolmer, Cindy Swinson
Economics Staff Paper Series
Agricultural lenders were surveyed to clarify the nature of the problems faced by financially stressed farm borrowers and the appropriate Cooperative Extension Service response in educational programming. Specifically determined were skill training priorities, adequacy of farm records appropriate delivery mechanisms, preferred target audiences, and institutional preferences.
Implications Of Basis Changes To Put Option Trading, Brian Schmiesing
Implications Of Basis Changes To Put Option Trading, Brian Schmiesing
Economics Staff Paper Series
Agricultural commodity options are based on futures contracts. Producers buying put options are subject to basis risk. Unlike a storage hedge, a put buyer must be concerned with how the basis changes. Eight basis change scenarios are analyzed to indicate why this is true. In addition, the returns to buying a put are contrasted with a storage hedge. Recommendations are made on how a producer might develop a strategy for when to use a put option versus hedging.
Determinants Of Farmland Prices During Periods Of Rising And Declining Farmland Values, Larry Janssen, Cindy Swinson
Determinants Of Farmland Prices During Periods Of Rising And Declining Farmland Values, Larry Janssen, Cindy Swinson
Economics Staff Paper Series
A study of farmland sales in four South Dakota counties indicated productivity and location variables are important in explaining variation in per acre sale price, while financial variables are not. The same explanatory variables are significant in periods of rising (1979-1980) and declining (1981- 1982) prices but parameter estimates vary significantly between the periods. Over 80% of per acre sale price variation was explained in both periods. These findings support traditional explanations of cross-sectional farmland price variation, and (2) suggest that explanatory factors exert varying pressure on farmland sale prices at different times.
Combining Causality Tests And Path Analysis To Model Agricultural Markets, Steven Blank, Brian Schmiesing
Combining Causality Tests And Path Analysis To Model Agricultural Markets, Steven Blank, Brian Schmiesing
Economics Staff Paper Series
Causality tests and path analysis are combined to create a new procedure for use in evaluating agricultural markets. The two complementary techniques combine to form a strong process for measuring the direction and strength of causal relationships within a structural equation model. An empirical example which evaluates midwestern corn market price relationships is presented.
Observations On Tax Policy And Education, Mark Edelman
Observations On Tax Policy And Education, Mark Edelman
Economics Staff Paper Series
A short clarification of the current problems facing agriculture and tax policy options available.
Observations On The Future Of South Dakota Agriculture And Rural Communities, Mark Edelman
Observations On The Future Of South Dakota Agriculture And Rural Communities, Mark Edelman
Economics Staff Paper Series
A short clarification of the current problems facing agriculture and rural communities in South Dakota, the options faced by community leaders, and the policy alternatives faced by national decision-makers in assisting rural communities.
South Dakota Farmland Market Trends - Current And Future Research, Larry Janssen
South Dakota Farmland Market Trends - Current And Future Research, Larry Janssen
Economics Staff Paper Series
Agriculture land market trends are of considerable interest to many people - farm managers landowners, realtors, prospective buyers and sellers of farm real estate, loan officers, agribusiness managers, public officials and the general public. Interest and concern about farmland market trends intensifies during periods of rapid increases or decreases in land prices. Both of these events have occurred since 1971. For South Dakota, average per acre farmland values increased 345% from 1971 to 1982 ($85 to $291) . Since late 1981 and early 1982, farmland prices have steadily declined in most regions of South Dakota - reflecting sharply reduced profits …
The Influence Of Technological Change On Grain Elevator Pricing Efficiency, Brian Schmiesing, Steven Blank, Steven Gunn
The Influence Of Technological Change On Grain Elevator Pricing Efficiency, Brian Schmiesing, Steven Blank, Steven Gunn
Economics Staff Paper Series
The introduction of unit train technology is found to increase the pricing efficiency of a case study elevator. Daily prices are found to be more correlated with destination market prices and nearby futures contract prices after the subterminal was introduced. The increased ability to physically arbitrage between markets integrated the elevator into the regional and national grain market. The subterminal technology altered the price behavior of the elevator beyond simply changing the level of prices received by producers.
Comparing Faculty And Alumni Expectations Of Future Agricultural Economics Curriculum Content, Steven Blank
Comparing Faculty And Alumni Expectations Of Future Agricultural Economics Curriculum Content, Steven Blank
Economics Staff Paper Series
This paper assesses both faculty and alumni expectations of future agricultural economics programs by reviewing the results of two surveys, one completed by each group. In general, faculty and alumni agree about the areas of greatest curriculum and/or resource need, but there are some differences. In the future, departments will continue to be challenged to balance their curriculum between what students want (agribusiness) and what they need (basic education).
Accounts Receivable Management At Local Cooperatives: A Review Of Actual Practices And Strategies For Improvement, Brian Schmiesing, Julie Bleyhl
Accounts Receivable Management At Local Cooperatives: A Review Of Actual Practices And Strategies For Improvement, Brian Schmiesing, Julie Bleyhl
Economics Staff Paper Series
Accounts receivable represent a major operating expense for local cooperatives. For example, the average local Minnesota cooperative affiliated with a major regional cooperative in 1983 had 35 percent of their total current assets being accounts receivable and credit costs associated with accounts receivable represented 2.5 percent of the credit sales revenue. In contrast, local net savings were only 1.2 percent of sales. Effective accounts receivable management is particularly important in a period of financial stress in agriculture, high interest rates on borrowed capital and narrow local cooperative margins. This paper will review the actual accounts receivable management practices of local …
Policy Interdependence, Causality And Supply Response In World Markets: The Case Of U.S. And Australian Tobacco, Steven Blank
Policy Interdependence, Causality And Supply Response In World Markets: The Case Of U.S. And Australian Tobacco, Steven Blank
Economics Staff Paper Series
The economic impact of international policy interdependence is illustrated using the world tobacco market as an example. The price discovery process is assessed using U.S. and Australian data. It appears that world tobacco prices are set through an oligopolistic rule-of-thumb pricing system with the U.S. being the tacit price leader. As a result, there has been a causal relationship between U.S. and Australian tobacco prices . However, no direct supply response to U.S. prices was observed in Australian markets.
Price Dependence And Futures Price Theory, Steven Blank
Price Dependence And Futures Price Theory, Steven Blank
Economics Staff Paper Series
A new interpretation of commodity futures price theory is evaluated because, currently, many products exhibit price behavior which cannot be explained with existing theory. A method for classifying products according to the particular price theory relevant to them is provided. The classification method uses the futures price dependence enforced by arbitrage opportunities in spot markets as its base. The futures markets for beef cattle and corn are used as examples.
Determining An Effective Teaching/Research Composition For Agricultural Economics Faculty Positions, Steven Blank
Determining An Effective Teaching/Research Composition For Agricultural Economics Faculty Positions, Steven Blank
Economics Staff Paper Series
Making more efficient use of resources in agricultural economics departments is an important challenge of this period of budget stress (Stanton and Farrell). Beattie noted that during such periods “. . . something must be done to relieve the pressure lest our universities be forced to reduce the quantity and/or quality of their output" (p. 209). In suggesting a direction for necessary action, Beattie used an analogy from the theory of the firm to argue for a strategy of "revenue maximization" on the part of agricultural economics departments. To achieve an efficient resource allocation "a university department, like a multi-product …