The ag-biotech industry underwent considerable consolidation in the last decade in part to take advantage of economics of scale and scope. The paper investigates the impact of such consolidation on inventive activity at the firm level. Careful attention is paid to the role of firm size, technology diversification and spillovers in the innovation process.
This empirical study analyzes the economic implications of reorganizing the California raisin marketing order. Welfare changes are examined for several groups when volume control and price discrimination policies are adopted singly and in combination. Results indicate that benefits from combinations of programs are highly sensitive to elasticities of pooled demand.
This paper provides a novel methodology to measure the impact of food safety regulation. An output directional distance function approach is applied to estimate the opportunity cost of food safety regulation. Such a measure should be included as part of the overall cost for a more precise benefit-cost analysis of food safety regulation. Using US Census and food safety recall data, the value of potential output loss due to food safety regulation is suggested $2.5...
This paper examines the validity of anti-trade arguments that are based on the absence of technological spillovers. Results of a pooled cross-section time-series analysis for developing countries fail to support the existence of technological spillovers. Findings of learning-by-doing effects indicate that protectionism might be beneficial under certain circumstances.
A hybrid stated-preference model is developed that combines the referendum contingent valuation response format with an experimentally designed set of attributes. A sequence of valuation questions is asked to a random sample in a mail-out mail-back format. Econometric analysis shows that willingness to pay for policy attributes is formed dynamically.
A SPATIAL MODEL OF ANIMAL DISEASE CONTROL IN LIVESTOCK: EMPIRICAL ANALYSIS OF FOOT AND MOUTH DISEASE IN THE SOUTHERN CONEKarl M. Rich, Alex Winter-Nelson, Karl M. Rich & Alex Winter-Nelson
This paper presents a multi-market model of animal disease control that extends the current literature by accounting for spatial and inter-temporal relations in both epidemiological and economic variables. The model is applied to Foot and Mouth Disease control in Argentina, Uruguay and Paraguay, but it is broadly generalizable.
This article suggests that the two current approaches of summarizing curvature conditions for certain flexible function forms are neither intuitive nor robust to skewed distribution of exogenous variables. They also ignore the possible correlation pattern between exogenous variables. Arguing that the purpose of summarizing curvature condition is to provide either the changes of aggregated dependent variable with respect to a change of explanatory variable, or curvature conditions of a representative individual, this article proposes two...
A Quadratic Almost Ideal Demand System is used to examine the structure of food demand for a sample of urban Chinese households. The dual choice of product quality and quantity is accounted for in the econometric model via the inclusion of simultaneously estimated unit-value equations.
Capital budgeting decisions faced by tart cherry producers often challenge our traditional valuation techniques. Real Options Valuation (ROV) methods may be useful but assumptions of existing ROV approaches are restrictive and, in some cases, unrealistic. In this paper we assert that use of existing option pricing methods can not be justified. Instead, dynamic programming approach is more appropriate. We develop a multi-period model and use it to obtain an optimal orchard replacement policy. The model...
Defining appropriate probability distributions for the variables in an economic model is an important and often arduous task. This paper evaluates the performance of several common probability distributions under different distributional assumptions when sample sizes are small and there is limited information about the data.
A synopsis is presented of challenges faced and WTO performance in disciplining national technical measures to achieve legitimate objectives in a least-trade-distorting manner. Importance of the measures and international disciplines are reviewed and evidence presented from multiple perspectives that suggests a limited constructive WTO role.
We divide countries into two technology categories: developed and developing. Agricultural efficiency within each technology category was calculated. Cross-category efficiency measures were developed and combined with own-category measures to develop a technical difference index. Results indicate convergence of efficiency within both categories but divergence of efficiency between the two categories.
Discrepancies in the attitude between US and UK consumers toward application of biotechnology in crop production and medicine were examined using data from mail and online surveys. Results showed that more than 31% (46%) of US (UK) respondents were opposed to biotech foods while only 16% (18%) opposed biotech medicine, respectively. Perceived risks and benefits of agro-biotechnology and medical biotechnology were significant in determining overall attitude toward application of biotechnology in agriculture and medicine i.e.,...
Vegetative fuels management for wildfire risk mitigation is increasing recognized as a crucial complement to suppression. We develop a nested rotation model to examine the fuel treatment timing in the context of a forest environment where part of the values at risk are standing timber to be harvested. Simulations are performed for a representative ponderosa pine forest, and implications of the model for policy issues are discussed, including 1) the effects of public suppression of...
This paper reexamines foreign currency markets for evidence of fractional integration, and extends the extant literature in several important dimensions. First, we utilize a new semiparametric wavelet-based estimator, which is far superior to the more prevalent GPH estimator on the basis of mean squared error. Second, we utilize a broader and longer sample, which better facilitates the detection of long memory dynamics. Our analysis yields interesting empirical results that contrast with other recent studies. In...
Game-based bargaining theory is presented to evaluate the potential of and stability of cooperative coalition among producers for enhancing producer returns and managing market price and income risk. Results clarify that collective bargaining can increase and stabilize producer profits when they face a single processor.
TRANSLATING AND SCALING OF BUDGET SHARES: AN EMPIRICAL ANALYSIS OF CHINESE URBAN HOUSEHOLD DEMAND FOR MEATKang Ernest Liu, Wen S. Chern, Kang Ernest Liu & Wen S. Chern
The importance of incorporating demographic effects into a demand system is demonstrated using Lewbel's unified functions. In this study, the empirical analysis of meat demand in urban China shows the benefit of utilizing the translation and scaling of budget shares.
A recently developed nested error component model for unbalanced panel data is used to estimate insect damage functions. The model estimates the separate random effects for location and year on the variability of yield loss and has smaller standard errors for the regression coefficient than the comparable OLS model.
Governments in developed countries aim to increase the market share of organic products as a possibility to improve the environment or animal welfare or as a reaction to food crises and changing consumer preferences. Assuming that organic farming creates a positive externality, we address the question of how this environmental benefit can be internalized best. We use the concepts of heterogeneous producers with different unit production costs and heterogeneous consumers with different preferences for conventional...
This paper develops and estimates an econometric model for children's consumption of the Pyramid Group foods using the Continuing Survey of Food Intake by Individuals (CSFII) for the years 1994-96, 1998. This analysis is accomplished using a Tobit model (censored dependent variable) and by appropriately incorporating the survey design characteristics. Results of the regression analysis indicate that participation in the WIC program significantly affects the consumption patterns of children, for certain types of Pyramid Group...
EU policies focus ever more on rural development initiatives. The horse sector provides some opportunities. An I/O model is used to examine the aggregate effects of the horse sector on Swedish agriculture. The maximal potential of the sector accounts for around 12% of the total contribution to GDP by agriculture.
This paper test the hypothesis that conflicts along borders shared with conventional farms and potential external economies of scale have led to clustering of certified organic farms, using 1997 data from Yolo County, CA. Using a variety of landscape and areal statistics and a spatially autoregressive limited dependent variable model, we find significant evidence of spatial clustering related to both factors.
AN ANALYSIS ON POTENTIAL ECONOMIC IMPACTS OF GREENHOUSE GAS MITIGATION THROUGH PLANTING ENERGY CROPS IN TAIWANChi-Chung Chen, Shih-Hsun Hsu, Chi-Chung Chen & Shih-Hsun Hsu
The purpose of this study is to evaluate the economic and environmental impacts of planting energy crop on set-aside acreages in Taiwan. To do so, a Taiwan Agricultural Sector Model (TASM) was built and the data parameters of energy crop were incorporated into this model in order to simulate the economic and environmental impacts. Simulation results show that GHGE mitigation depends on the planting acreage of energy crops in which the optimal planting acreage of...
Real options analysis integrates uncertain outcomes of investment decisions. This framework is used to analyze a new product launch from an agricultural business to a market with multiple uncertainties. Findings indicate a more accurate valuation of the investment when real options and their interactions with the investment are considered.
Cluster analysis was used to identify five distinct buyer segments for expendable input purchases for U.S. crop and livestock commercial producers. A multinomial logit model was used to predict segment membership based on demographic, behavioral, and business management factors. Results provide important information for agricultural input suppliers.
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