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Essays On Agricultural Commodity Processing, Bin Li
Essays On Agricultural Commodity Processing, Bin Li
Dissertations and Theses Collection (Open Access)
This dissertation investigates two important issues in agricultural commodity processing: (i) biomass commercialization; that is, converting organic waste into a saleable product, from economic and environmental perspectives, and (ii) optimal procurement portfolio design using multiple suppliers and spot market, and the impact of by-product introduction on this optimal portfolio.
The first chapter examines the economic implications of biomass commercialization from the perspective of an agri-processor that uses a commodity input to produce both a commodity output and biomass. We characterize the value of biomass commercialization and perform sensitivity analysis to investigate how spot price uncertainty (input and output spot price …
Too Good To Eat? Cosmetic Standards And Waste In Agricultural Supply Chain, Jiahui Xu
Too Good To Eat? Cosmetic Standards And Waste In Agricultural Supply Chain, Jiahui Xu
Dissertations and Theses Collection (Open Access)
There is a significant amount of food wasted at the farm level due to high cosmetic standards adopted by retailers. We examine the economic incentives for retailers to adopt such high cosmetic standards and their impact on food loss. We build a sequential game between a retailer and a farmer, where the retailer signs a contract with the farmer specifying both the wholesale price and cosmetic quality standard. By adopting high cosmetic standards, retailers can motivate farmers to exert a higher effort to improve the cosmetic quality, e.g., using better seeds and applying more pesticides. As for the drivers of …
Testing Overreaction And Under-Reaction In The Commodity Futures Market, Jingyu Dai
Testing Overreaction And Under-Reaction In The Commodity Futures Market, Jingyu Dai
Dissertations and Theses Collection (Open Access)
Results from previous studies testing for under-reaction and overreaction in the commodity futures market are mixed and inconclusive. Using a data of more than 20 categories of future contacts ranging from agricultural, metal and energy, we have found significant evidence of under-reaction in food and agricultural commodities but not in the energy and metal sector. It is also found that those relatively inactive commodity future contracts tend to have a stronger tendency to under-react than commodity future contracts are very actively traded. The result also agrees with the behavioral hypothesis that under-reaction is caused by gradual incorporation of information among …