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The Role Of Quality Characteristics In Pricing Hard Red Winter Wheat, Shane J. Roberts
The Role Of Quality Characteristics In Pricing Hard Red Winter Wheat, Shane J. Roberts
Department of Agricultural Economics: Dissertations, Theses, and Student Research
In this thesis, we empirically examine the role of conventional and end-use wheat quality characteristics on the pricing of hard red winter wheat (HRWW). We use detailed quality characteristic data as well as location matched price data for 50% and 100% harvest completion weeks and utilize a hedonic price analysis framework. We find evidence that end-use characteristics, specifically milling and baking quality characteristics, have a statistically and economically significant effect on the price of HRWW. This evidence suggests that, while HRWW producers are not directly paid premiums or discounts for end-use quality, they are paid indirectly through basis. Comparing results …
The Role Of Myopic Loss Aversion In Pre-Harvest Grain Marketing, Iyore Eronmwon
The Role Of Myopic Loss Aversion In Pre-Harvest Grain Marketing, Iyore Eronmwon
Department of Agricultural Economics: Dissertations, Theses, and Student Research
In this study, we investigate the role of myopic loss aversion (MLA) risk preferences on pre-harvest grain marketing decisions using a laboratory experiment. Prospect theory parameters were estimated to measure MLA. We estimated a power function for utility and obtained power estimates indicating linear utility for gains and concave utility for losses. We obtained a loss aversion parameter estimate that suggests the presence of loss aversion. We found evidence of probability weighting for both gains and losses. We classified individuals into three categories based on their MLA status. They are no NMLA, MLA, and high loss aversion (HLA). We observed …