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Agricultural and Resource Economics Commons™
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- Agricultural economics (34)
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Articles 121 - 150 of 162
Full-Text Articles in Agricultural and Resource Economics
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 (1969 - 2017)
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 (1969 - 2017)
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 (1969 - 2017)
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 (1969 - 2017)
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 (1969 - 2017)
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?
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 (1969 - 2017)
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.
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 (1969 - 2017)
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.
Planning For Tomorrow – Today: Report On The Piloting Project, Burton Pflueger
Planning For Tomorrow – Today: Report On The Piloting Project, Burton Pflueger
Economics Staff Paper Series (1969 - 2017)
Planning For Tomorrow Today (PFT) is a program developed by the Cooperative Extension Service, South Dakota State University, specifically to help producers in South Dakota deal with the Farm Crisis. PFT can be used by any individual producer whether they are experiencing financial difficulties or not, but would like to examine reorganizing or restructuring alternatives for their operation in an attempt to increase the financial viability of their business. Within the PTT workshops participants are encouraged and helped to develop, or formalize, short and long term goals for both themselves and their business. Based on these goals, participants develop a …
A Methodology For Evaluation Of Alternative Electric Irrigation Rate Structures, Ardelle Lundeen, Don Taylor, Todd Lone
A Methodology For Evaluation Of Alternative Electric Irrigation Rate Structures, Ardelle Lundeen, Don Taylor, Todd Lone
Economics Staff Paper Series (1969 - 2017)
A mixed integer linear programming model is being developed to evaluate the effects of alternative electric rate structures on revenues to electric suppliers-distributors, returns to irrigators, and current and prospective demands for energy and water for irrigation. The model incorporates minimum, demand, and KWH charges for simultaneous analysis.
The Problem Of Aggregation In Spatial Equilibrium Analysis, Brian Schmiesing, Steven Blank
The Problem Of Aggregation In Spatial Equilibrium Analysis, Brian Schmiesing, Steven Blank
Economics Staff Paper Series (1969 - 2017)
Aggregation across time has long been recognized as a potential source of specification error within time series modeling. This source of specification error has major implications for the use of causality tests in spatial equilibrium analyses. This study reviews the theoretical econometric literature to generate hypotheses which are empirically tested to illustrate the impacts of aggregation on causality tests. Granger causality tests for three major corn markets reveal one-way causality to be "fragile" with respect to changes in the level of time aggregation in data. Dynamic multipliers are discussed as being one method of checking the specification of the model.
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 (1969 - 2017)
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 (1969 - 2017)
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 (1969 - 2017)
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 (1969 - 2017)
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 (1969 - 2017)
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 (1969 - 2017)
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 (1969 - 2017)
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 (1969 - 2017)
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 (1969 - 2017)
A short clarification of the current problems facing agriculture and tax policy options available.
Computers In Extension: Thoughts For Decisionmakers, Donald Peterson
Computers In Extension: Thoughts For Decisionmakers, Donald Peterson
Economics Staff Paper Series (1969 - 2017)
No abstract provided.
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 (1969 - 2017)
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 (1969 - 2017)
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 (1969 - 2017)
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 (1969 - 2017)
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 (1969 - 2017)
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 (1969 - 2017)
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.
The Impact Of Government Intervention In The Australian Dairy Industry, Steven Blank
The Impact Of Government Intervention In The Australian Dairy Industry, Steven Blank
Economics Staff Paper Series (1969 - 2017)
This study assesses the economic impact of existing Australian dairy pricing policies on resource allocation and income distribution among participants in dairy markets. Australia is used as an example because it recently became the first major producing country to decide to eliminate federal intervention in the dairy price discovery process. Results indicate that significant costs and transfers can be attributed to the influence of government intervention. Also, evidence of policy bias favoring producers over consumers is found.
Price Dependence And Futures Price Theory, Steven Blank
Price Dependence And Futures Price Theory, Steven Blank
Economics Staff Paper Series (1969 - 2017)
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 (1969 - 2017)
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 …
Role-Playing, Case Studies And Simulation Games As Teaching Aids In Applied Economics Courses, Steven Blank
Role-Playing, Case Studies And Simulation Games As Teaching Aids In Applied Economics Courses, Steven Blank
Economics Staff Paper Series (1969 - 2017)
This paper assesses the impact of introducing role-playing, case studies and simulation games into undergraduate courses in applied economics. An educational impact model is used in a qualitative evaluation of the teaching aids and to generate hypotheses. Quantitative results of two experiments are used to test the hypotheses. Results indicate that each aid can improve students' performance when used in appropriate situations. However, there is a definite trade-off between student contact time requirements and the effect of these aids.