bluuebunny/crossref_metadata_2025 huggingface dataset:
Horace, Odes i 12. 33-6: A Reply
Authors: Treloar A.
Published: July 2016

My suggested interpretation of Horace, Odes i 12. 35 has been severely criticized by Professor Jocelyn. I therefore welcome the opportunity to reply.

J. himself agrees that the ancient scholars could not agree which King Tarquin was intended (68 and n. 1): this at least leaves open the possibility that some third Tarquin was meant. This was the possibility I sought to investigate.

J. further agrees that the structure of the whole ode must be considered in interpreting any particular stanza (68, I), but rejects my belief in the triadic structure of this ode, which is not peculiar to this ode and has the support of the majority of Horatian scholars. He offers no alternative analysis of the whole poem.
Horace, Odes i 12 yet again: A Rejoinder
Authors: Treloar A.
Published: July 2016

Professor Dunston gives my loosely expressed reference to Horatian scholars the treatment it deserved (above, 56). I ought perhaps to have said ‘scholars whose authority carries great weight with me’ and hoped to show that I was not merely advocating in this respect an eccentric view of my own. In view of what he goes on to say, I hope it will not seem arrogant if I now say that Horace has been a favourite author with me for forty years and that the kind of structure I advocated does seem to me to be an element in his art. In a work of art such a structure must be self-evident, if it is real: otherwise it is likely to be something imposed on the artist by scholars or critics.
On Two Stories in Apuleius
Authors: Mayrhofer C.M.
Published: July 2016

The late B. E. Perry’s work on the stories of Aristomenes and Thelyphron in Apuleius’s Metamorphoses is a classic of its kind. Originally a by-product of his doctoral dissertation on Lucius of Patrae, it has stood the test of time as a critical analysis of Apuleius’s narrative style; Perry himself repeated his analysis with only minor changes of emphasis forty odd years later in The Ancient Romances, having energetically repelled a few attacks early in its career, and it holds the field still. His study on the two stories observes an effect which all readers sense in the text, perhaps without being aware of it as a distinct phenomenon, and traces this effect to certain causes which lie under the surface of the text. As he said: ‘I am trying to explain for myself and others the secret of that exceedingly strange and romantic effect which certain of (Apuleius’s) stories produce.’ He goes on to remark: ‘Only a part of this effect is produced by the subject matter as such’; that which is peculiar to Apuleius, ‘the unique element … which contributes most of a reader’s sense of mystification, even when he is not aware of it, is the absence of a natural and normally logical sequence of events …’
Demosthenes’ Second Philippic: A Valid Policy for the Athenians against Philip
Authors: Markle III M.M.
Published: July 2016

In the negotiations which were concluded by the Peace of Philocrates, Philip hoped to gain control of the Greek states so that he could invade Persia with his own kingdom secure from invasion by powerful enemies in his rear. Elimination of the Thebans as a leading state was an essential step in his plan, because he could foresee that the only combination sufficiently strong to thwart him would be Athens and Thebes. For this reason he insisted on an alliance with the Athenians as a necessary condition for the peace: he hoped that on the basis of this alliance the Athenians would send hoplites to Thermopylae who would aid him both in the suppression of his Theban allies and in the expulsion of Phalaecus and his mercenaries from the forts. He expected that, when the Thebans learned that the tyrant and his troops were to be punished severely and the Phocian people treated leniently, the Thebans would be provoked into attacking him and the Athenians would come to his aid by taking them in the rear.
U. S. Agriculture at a Crossroads: Implications for Agricultural Economics
Authors: Ikerd John E.
Published: July 2016

United States agriculture is at a crossroads. The current financial crisis in agriculture eventually will force the farm sector to follow one of two general directions for the future. One of those courses is to retreat from reliance on export markets, the loss of which triggered the current farm financial crisis, and to return to greater reliance on domestic demand. The other course is to return to a world market orientation, regain export markets lost during the 1980s, and develop and exploit a growing world demand for agricultural commodities. Each of these alternatives implies a different future for United States agriculture and a different future for the Agricultural Economics profession.
Formulation of Broiler Finishing Rations by Quadratic Programming
Authors: Miller Bill R. , Arraes Ronaldo A. , Pesti Gene M.
Published: July 2016

Least cost feed mix by linear programming (LP) is a standard economic analysis in the poultry industry. A significant body of nutrition knowledge is now contained in the constraint set of industry LP models. This knowledge might be merged into an improved economic model that contains production response information. Analysis using a quadratic programming model indicated that a leading broiler firm could have improved economic efficiency by increasing protein density and reducing energy density of broiler finisher feed. If applicable industry wide, similar savings could be as high as $120 million per year.
Agricultural Development Effort Assessment: The Colombian Case
Authors: Plaxico James S.
Published: July 2016

Colombia, South America is one of the select countries around the world which has been singled out for intensive developmental inputs on the part of public agencies and institutions, private enterprise and the Foundations. Among the external agencies currently involved in the Colombian development effort are FAO, the Mid-American State University Association (MASUA) administered by Nebraska, an International Tropical Research Institute, the Harvard Development Advisory Service, the Population Council, the Ford, Kellogg and Rockefeller Foundations, and various national development organizations, including those of Sweden and France. Obviously, with such a diversity of endeavor, consideration must necessarily be limited to agriculture, with emphasis on the current Nebraska-MASUA consortion program.
Simulated Effects of Use Value Assessment on Property Tax Rates
Authors: Ching Chauncey T. K. , Frick George E.
Published: July 2016

Because of the awareness of the importance of non-urban land uses, many States have turned to use value assessment (as opposed to assessment at market value) as one method of maintaining open space. For example, see “Taxation of Farmland in the Rural-Urban Fringe” by Thomas F. Hady and Thomas F. Stinson, U. S. Dept. of Agriculture, A. E. Report No. 119, 1967. in response to such actions, many researchers have addressed themselves to the effectiveness of use value assessment in maintaining open space. The effectiveness of use value assessment in keeping land open is not in question in this discussion. Suffice to say that the effectiveness of use value assessment in maintaining open space is a highly debatable issue on both economic and political grounds.
Entension Needs to Keep Managers of Commercial Agriculture Up-To-Date
Authors: Nelson Ted R.
Published: July 2016

Since its inception, Extension has been involved in constant self-study activities which have often resulted in modifications in program, structure and performance. Innumerable pilot projects have been proposed, many have been tried, and some have been woven into the basic fabric of the traditional Extension program. New technology and sociological changes in rural America have generated forces of change to which Extension needs to adapt to survive as a contributing agency supported by public funds drawn from private taxpayers who also happen to be voters. The arrival of the seventies does not herald a sudden crises, we and our predecessors have been through this before, but the tempo increases at a rate related to that of the so-called knowledge explosion we hear so much about.
Simulating the Impact of Input-Price Inflation on Farm Income
Authors: Quance Leroy , Tweeten Luther
Published: July 2016

A 1964 survey of 500 wheat producers in Oklahoma and Kansas revealed that the cost-price squeeze is most commonly viewed by farmers as the major cause of chronically low farm income.The cost side of the squeeze is widely attributed to the wage-price spiral caused by cycles of wage and input price increases negotiated between labor unions and imperfectly competitive firms, and to rising taxes and interest rates.
The Bayesian Decision Model with more than One Predictor—An Application to the Stocking Rate Problem
Authors: White Freddie C. , Eidman Vernon R.
Published: July 2016

The variables a manager faces in making decisions may be divided into two broad categories—those which are determined by the manager and those which are outside of his control. Agricultural economists have made many efforts to develop expectation models for one or more of the uncontrollable variables facing farmers and have suggested procedures for utilizing the resulting expectations. Recent developments in statistical decision theory provide a logically consistent framework for incorporating the predictions of expectation models [4, pp. 192-196]. Applications of Bayesian analysis utilizing predictions of one uncontrollable variable have been reported in the literature [1, 3]. However, many decision problems logically require expectations of two uncontrollable variables (such as price and yield) or more. This article illustrates a method of including predictors for more than one uncontrollable variable in the Bayesian framework, and reports some empirical results of an application to a stocking rate problem.
A Systems Approach to Pest Control Research
Authors: Jenkins Robert P.
Published: July 2016

Systems analysis would be a useful tool for certain kinds of pesticide research, particularly that involving decisions affecting the environment or the ecosystem. A well-designed systems analysis would permit researchers and policymakers to learn more about the complete effects of their decisions relating to pesticides. It is doubtful whether any one person or group of persons can mentally formulate all the complex effects of a pesticide on the environment, on optimum farm organization and practices, on human welfare, and on the myriad of other interrelated factors.
Prediction of Shell Egg Price-A Shortrun Model
Authors: Roy Sujit K.
Published: July 2016

Variations in price occur frequently in the U. S. shell egg industry and, consequently, interest has been widespread among the traders and the producers with regard to such price variations. Quantitative models for the specific purpose of predicting shortrun egg price have so far been conspicuously absent. The basic objectives of this discussion are first, to present an econometric model to predict quarterly shell egg price and, second, to explain the casual factors which appear to affect price in the immediate future. Finally, alternative methods of estimating the predictive model have been compared with regard to their relative predictive ability.
Underemployment as a Criterion for Special Eda Benefits, with Special Reference to Rural Counties
Authors: Home James , Tweeten Luther
Published: July 2016

A visit by the Director of one of the Economic Development Districts in Oklahoma motivated this study. Because of declining unemployment prior to 1970, several counties in his district had lost special funding under Titles I and IV of the Public Works and Economic Development Act of 1965 (PL 89-163). The director contended that substantial poverty and other signs of economic and social distress persisted in previously designated EDA counties, and that a new criterion (specifically underemployment) was needed to gear benefits to real needs.
The Consumer Market for Pecans and Competing Nuts
Authors: Williams F. W. , LaPlante M. G. , Heaton E. K.
Published: July 2016

Pecans contribute significantly to agricultural income in Georgia and in several other Southern states. Eleven Southern states produce the total U. S. commercial supply of pecans and during the years 1967-69, the average annual farm value of marketings was nearly $74 million. Georgia is the leading state in pecan production, contributing 27 percent of total U. S. production and 31 percent of total market value during this three-year period. Georgia produced 60 million pounds of pecans annually with an average 1967-69 farm value of over $23 million.
An Evaluation of Market Order Grade Changes Using Covariance Analysis
Authors: Nichols John P.
Published: July 2016

Market orders authorized under both State and Federal legislation have long been employed to regulate the marketing of many agricultural products, especially fruits and vegetables. While their purposes vary and controls provided for differ, one provision that is common to a large number of orders allows the establishment of minimum standards of grade, maturity, or other characteristics of quality in the marketing of an agricultural commodity. These standards are usually set by the marketing order committee composed of producer and shipper members of the industry, subject to the approval of the Secretary of Agriculture.
Temperature Probabilities and the Bayesian No Data' Problem
Authors: Sporleder Thomas L.
Published: July 2016

Weather constitutes an exogenous factor in agriculture which may have considerable influence on production and marketing. For a particular commodity, weather may influence quantity produced, quality of the commodity marketed, and consequently influence prices received (or paid) by various firms associated with that commodity system. Although some has been written about the influence of weather on agriculture, little economic analysis is available which attempts to integrate estimated probabilities of some weather phenomenon (a notable exception is McQuigg and Doll). This latter situation may be attributed, at least partially, to the complexities of such an integrative analysis.
Least Cost World Trade Patterns for Grains and Meats
Authors: Moore John R. , Elaassar Sammy , Lessley Billy V.
Published: July 2016

There are many barriers to a perfectly free flow of goods among countries. These barriers result in trade diversion and increased transportation costs for the goods involved. This paper reports findings of a study on the ocean transportation cost of trade diversion for grains and meats in 1965-66 where diversion is defined as the difference between the least cost world trade pattern for these commodities as determined by linear programming (transportation model) and the actual trade patterns. The change in United States export patterns and shipping costs that would have resulted from a 10 percent decrease in United States outgoing ocean freight rates for grain and meat in 1965-66 was also calculated. This was done to show the effects of what some feel to be a rate pattern that discriminates against United States exports.
A Quantitative Approach to the Feedlot Replacement Decision
Authors: Nelson Kenneth E. , Purcell Wayne D.
Published: July 2016

If all feeder cattle were identical and if all relative prices were constant the feedlot manager would still have an important and difficult decision to make. The decision involves selecting the time at which to replace a pen of cattle on feed with a new pen of feeder cattle such that profit is maximized, over time, to the feeding operation as a whole. Of course, all cattle are far from identical and prices, even relative prices, are never constant. The decision that is not simple with identical cattle and constant prices becomes most difficult with consideration of different types of replacement cattle and varying prices.
Nonfarm Investors and Beef Breeding Herds- -Incentives and Consequences
Authors: Harrison Virden L. , Woods W. Fred
Published: July 2016

Tax dollars the Government deliberately waives should be viewed as a form of expenditure and weighted against the priority of other expenditures. When the preference device provides more social benefit than Government collection and spending, that “incentive” should be expanded; when the preference is inefficient or subject to abuse, it should be ended.

Richard M. Nixon Message Regarding Tax Reform April 21, 1969
The Opportunity Cost of Protecting Cropping History
Authors: Harwell R. Lynn , Strickland P. Leo
Published: July 2016

Farmers are continually faced with the necessity to make farm management decisions which have economic consequences. Often the situation occurs wherein the farmer has little information upon which to base a decision. The situation may be forced on the farmer so that a no action decision also has economic importance. Also, as is the case in a dynamic society, a decision made now can have repercussions in years to come.

For many years, some type of government farm program has been in effect for many farm commodities. Most of these programs have been designed so that a farmer's decision to participate could be made on a year to year basis. Production decisions could be made independently with a decision not to participate in a given year having no effect on the choice or level of participation available in subsequent years.
Relating Farm and Operator Characteristics to Multiple Goals
Authors: Harman Wyatte L. , Eidman Vernon R. , Hatch Roy E. , Claypool P. L.
Published: July 2016

Economic analyses of firm behavior are typically based on the assumption of maximization or minimization of a single goal. While economists recognize that multiple goals are important in making business decisions, a single goal, such as profit maximization, is used because it is operational and it provides an analytical approximation of firm behavior. However, the reduction of year-to-year income variability, providing an acceptable family living level, increasing net worth, additional leisure time, and many other goals have been suggested as being important to some farm firms. Some analyses have considered two or more of these goals by maximizing one subject to a constraint on another. In other cases, a utility function has been estimated for an individual farmer incorporating both expected income and variability of income. Although these efforts have been useful, progress towards incorporating multiple goals into empirical models has been inhibited by the inability to correctly specify important goals and the difficulty of incorporating several goals into frequently-used models. The recent development of simulation routines for farm firm analyses provides an analytical procedure that is sufficiently flexible to incorporate multiple goals. While it may be difficult to provide all of the information that is needed concerning goals and their use in decision making, additional information indicating the ranking of goals and the manner in which this hierarchy differs for farmers under alternative economic and noneconomic conditions provides a better basis for the selection of organizational and financial strategies.
The Welfare Reform Bill and its Effects in the South
Authors: White Gerald B. , Long Burl F.
Published: July 2016

“The majority of Americans now living in comfortable circumstances should become better off, not worse off, as a result of such a (redistribution) policy. To get this dynamic thought understood and widely accepted is the major task for all who would enlighten public opinion in America”.

The number of Americans living in poverty increased by an estimated 1.2 million during 1969 and 1970, reversing the downward trend in numbers of poor registered through the 1960's. It seems a paradox that 12 percent of our citizens live in poverty in a trillion dollar economy. The grossly unequal distribution of income is illustrated by the fact that average annual after-tax personal income was $3,098 per person in 1970. Yet, 25 million lived below the 1970 poverty level, defined as $3,944 for a family of four. Roughly speaking, those living in poverty existed on incomes of less than one-third of the national per capita level. This paper is not concerned with the highly skewed distribution of personal income, but is directed to the effects on those living below or near the officially defined poverty level.
Economic and Social Indicators of Rural Development from an Economic Viewpoint
Authors: Edwards Clark , Coltrane Robert
Published: July 2016

A disproportionately large share of our economic development problems, involving maldistributions of population, employment, and income, is found in rural areas. Although these problems directly affect the residents of rural areas, they are linked to economic problems in urban areas. Per capita income comparisons indicate the differential effects of economic development on the population. For example, per capita incomes of residents outside metropolitan areas are only about 71 percent of those in the orban-oriented ones. In addition, about one-third of all families live in nonmetropolitan areas, but over half of all low income families live there. Further, large geographic areas such as the Appalachian, Mississippi Delta, and Ozark regions are below the Nation as a whole in terms of the general level of economic development. Even in the urban centers of these rural regions, the average resident has not commensurately participated in the benefits derived from our Nation's economic development and growth. Comparisons of per capita income for different years show these maldistributions have persisted for decades.
Discussion: Economic Research Trade-Offs Between Equity and Efficiency
Authors: Tweeten Luther
Published: July 2016

I applaud Quentin West for what he said in his paper and commend him for the directions he had outlined for the Economic Research Service. If there was a time when economists could ignore the equity dimension in their analysis, it is no more. The agricultural establishment, largely uncritical lovers of traditional agricultural research and education, and the young radicals, largely unloving critics exemplified by Hard Tomatoes -- Hard Times, hold very different images of who pays for and who benefits from publicly supported agricultural research and education. Differences will not be resolved without better information in the hands of both groups.

It would be hard to quarrel with the thrust of ERS analysis reported by West for Tobacco and other programs. So I will deal with his shortcomings of omission rather than commission. Specifically, I will quantify the distribution of costs and benefits from agricultural research and education.
Rural Housing Needs and Barriers: The Case of Central Appalachia
Authors: Deaton Brady J. , Hanrahan Charles E.
Published: July 2016

The nation's housing needs are a subject of major public concern – and rightfully so. The 1970 Census revealed 2.5 million substandard houses in nonmetropolitan areas inhabited by almost 13 million people. Two earlier major government reports presented a picture of unfulfilled housing needs, and the pervasive social, economic, political and institutional obstacles to meeting these needs.

Unfortunately, despite the pressing nature of substandard housing illuminated in these reports, few researchers have responded with serious analysis of the problem. Only passing attention to housing needs was given by the President's Poverty Commission, even though the quality of housing is widely recognized as a key indicator of economic development and the quality of living.
Alternatives to the Local Property Tax for Educational Finance
Authors: Hady Thomas F.
Published: July 2016

If we could get a nickel for every time the demise of the property tax has been predicted in this century, we probably could invest the proceeds and use the interest to finance a program of property tax reform. In a sense, this subject is old.

In another sense, however, there is something very new about discussing alternative ways of raising money for local governments. In August 1971, the California Supreme Court issued its decision in the now well-known case of Serrano v. Priest; in March 1973, the U.S. Supreme Court overturned a similar ruling by a lower court in Texas. The Court ruled that the present system of financing local schools in California, which relies heavily on the property tax, unconstitutionally “conditions the full entitlement to such interest on wealth, classifies its recipients on the basis of their collective affluence and makes the quality of a child's education depend upon the resources of his school district and ultimately upon the pocketbook of his parents.” Since that time, more than 50 similar suits have been filed in some 31 states, and the U.S. Supreme Court is reviewing an appeal from Texas in a case similar to Serrano.
An Investment Analysis of Vocational Programs Offered in Missouri Junior Colleges
Authors: Osburn Donald D. , Richardson W.B.
Published: July 2016

Administrators of the public junior colleges in Missouri are faced with two major problems. First, there is an increasing number of students demanding post-secondary education. Second, apathy of voters and legislators toward financial support of our educational institutions is increasing. A study entitled Missouri Public Junior Colleges: A Report to the People revealed that in 1960 there were approximately 600,000 students enrolled in two-year institutions of higher education in the United States. The report further stated that in 1971 the enrollments would climb to 2,000,000 and that by 1980 the projected enrollments would approximate 4.4 million. This predicted growth pattern has been observed in Missouri with the enrollments increasing by approximately 20 percent per year.

The report cited above also confirms the second major problem as state aid for Missouri junior colleges has been decreasing over the past few years. Voter apathy, although more evident in secondary schools, is a force that can affect the junior college as programs are expanded to meet the increasing student demand.
Economic Analysis of Commercial Layer Production Decisions for Family Farm Operators
Authors: Lance G. Chris
Published: July 2016

Egg production in Georgia traditionally was by small producers with eggs marketed through retail stores. Beginning in the early 1960's feed millers, egg distributors and broiler integrators began shifting from broilers and other enterprises to commercial egg production. Growth of the industry through the decade of the sixties developed into two different types of production and marketing structures. Industry leaders primarily interested in selling feed, and handling eggs encouraged expansion of independent ownership of flocks by small producers. Independent producers purchased feed and started pullets at retail prices and sold eggs on a grade-yield basis to processor-distributors. Other industry leaders encouraged vertical integration by offering production contracts. Contract producers provided facilities and labor for egg production and received a fixed payment per unit from the integrator. The integrators owned the layers and provided feed, medication and supervision for flocks.
A Simultaneous Equation Model of the Economic-Ecologic System in Citrus Groves
Authors: Lee Jonq-Ying , Langham Max R.
Published: July 2016

In 1964, 89 percent of the citrus acreage in the U.S. was treated with pesticides. The percentage increased to 97 percent in 1966. Total expenditures for pesticides during the two years were 13.8 and 21.3 million dollars, respectively. Expenditures on a per acre basis were $12.74 and $18.82, respectively, in these years. The trend in pesticide use on citrus pest control has been upward.

The increased usage indicates that pesticides are recognized by growers as important inputs to increase output and/or improve fruit quality. The negative side effects of pesticides on the environment are also being increasingly recognized.
Components of Outdoor Recreational Values: Kissimmee River Basin, Florida
Authors: Gibbs Kenneth C. , Conner J. Richard
Published: July 2016

It is widely recognized that outdoor recreation is an important segment of our economy. Most recent efforts to quantify the size of the recreational segment of our economy result in determining only isolated parts of total recreational value. This is particularly true of efforts to determine the value of various aspects of publicly owned natural resource systems. This paper presents procedures to estimate total recreational value of water in a river basin system: the Kissimmee River Basin, Florida.
Markov Intertemporal Land Use Simulation Model
Authors: Burnham Bruce O.
Published: July 2016

The simulation model discussed in this paper evolved from problems encountered in estimating future United States cropland availability as part of the OBERS agricultural projection system. Available literature describing land use changes indicate that land resource economists have not been concerned with projecting future patterns of land use implied by historic observations.

Some research has involved selection of optimum cropping patterns for agricultural cropland subject to alternative flood plain management policies. However, the broader application of such models between sectors (agriculture, industrial, urban, etc.), in the main, has been ignored. Because of “historical bias” there has not been a concerted effort to develop analytical capabilities for use in evaluating the future implications of alternative regional and/or national policies designed to alter trends in land use shifts.
Economic Implications of the 1973 Farm Program on Wheat and Beef Production – Southern High Plains Winter Wheat Area
Authors: Whitson Robert E. , Lacewell Ronald D. , Jones Lonnie L. , Shipley John
Published: July 2016

Interrelationships among enterprises on individual farms complicates decision-making by the individual producers and efforts to estimate producer response to alternative farm programs. This is especially true for wheat producers, where wheat both competes with other field crops and can be used for grazing (an input to beef production). Acreage allocated to wheat provides little indication of the quantity of wheat grain that will be produced since stockers may be withdrawn from grazing wheat throughout the production period. Wheat output is determined by length of grazing. With sufficiently attractive cattle prices, relative to wheat prices, wheat may be used only for graze-out (no grain harvested). The actual outcome depends primarily on price of wheat, price of beef and the characteristics of the government wheat program.
Location Basis Variability Effects on Slaughter Cattle Hedging in the South and Southern Plains
Authors: Bobst Barry W.
Published: July 2016

Location basis variability is a matter of potential concern to livestock producers who contemplate the use of livestock futures contracts as hedging devices and who are removed from a designated futures contract delivery point. Recent attention has been given this problem by Heifner in an analysis of minimum-risk hedging ratios for cattle and hogs, among other commodities, in which measures of risk-shifting effectiveness were generated for comparison among locations.
Farm Programs, Pesticide Use, and Social Costs
Authors: Richardson James W.
Published: July 2016

Environmentalists attack agricultural pesticides because of adverse drift effects during application, run-off into streams and persistence in the environment. The Environmental Protection Agency (EPA) has banned DDT and currently is considering cancellation of its registration of mirex, 2,4,5,-T, and dieldrin.

Emotionalism rather than economics appears to be guiding environmental groups in their fight against pesticides. As agriculture's pesticide use comes under more and more pressure from the public, U.S. farm programs are likely to come under attack because they may have encouraged farmers to substitute pesticides for cropland. The “farm program” for the past decade has restricted acres planted and supported prices of agricultural products. Acreage controls encourage farmers to substitute variable inputs for limited cropland to take advantage of support prices.
International Dimension of Agricultural Prices
Authors: Mackie Arthur B.
Published: July 2016

Events of the past two years, specifically the agricultural price explosion of 1973, have strongly emphasized the growing interdependency of countries in the production, consumption and trade in agricultural products. The illusion of a closed agricultural economy has been dealt a series of severe blows. The world monetary crisis, the dollar devaluations, and sharply increased foreign demand for U.S. commodities have suggested that there is a single world market for basic commodities.
Estimating the Investment Behavior of Farm Firms Using the Concept of Rational Distributed Lag Functions
Authors: Trevena Billy J. , Keller Luther H.
Published: July 2016

This study grew out of the need for a more realistic notion concerning the investment behavior of the individual farm firm. Once a stable investment behavior function is identified, it can be incorporated into dynamic growth models to describe and predict farm firm growth. Considerable effort has been devoted to estimating the appropriate investment behavior function for industrial corporations; however, a search of the literature revealed no estimates of such a function for individual farm firms.

The purpose of this study was to estimate the investment behavior function for individual farm firms using the concept of rational distributed lag functions developed by Jorgenson to approximate the time structure of the investment process. To do this, a class of rational distributed lag functions was imposed on a multiple regression equation to obtain the lag distribution that best describes the time path of the investment response to changes in desired capital.
Analyzing Pest Control Strategies for Cotton With an Environmental Impact Matrix
Authors: Richardson James W. , Badger Daniel D.
Published: July 2016

Agricultural pesticide use has come under an intensive attack from an environmentally aware society. The Environmental Protection Agency has placed restrictions on use of selected pesticides, including DDT. The use of pesticide is a paradox in itself. Without feasible alternative insecticide strategies, such as biological control, restrictions on the use of pesticides will decrease agricultural output and food costs will increase. However, with pesticide use, social costs in the form of environmental damages may occur. To make an equitable decision as to the future of pesticides, researchers and policy-makers have tried to determine the optimal level of use, optimal timing of application, extent of economic benefits, extent of social costs, and the effects on the economy of pesticide restrictions.
Corn Prices, the Fuel Shortage and Optimal Corn Harvesting Strategies
Authors: Raikes Ronald , Harris Duane G.
Published: July 2016

The unprecedented demand for United States feed grains has boosted corn prices to record levels. If corn prices continue at these record levels, corn production practices and the demand for corn production inputs likely will be affected. One of the corn production practices that may be affected is harvesting. And because of the increased use of field shelling and artificial drying, changes in corn-harvesting practices may have an impact on the demand for propane fuel used in corn drying. Future supplies of propane, however, may be limited, or higher priced, or both. The analysis reported in this paper is an attempt to estimate the impact of higher corn and propane prices on harvesting strategies, on the quantity of propane demanded, and on other related variables. The results of the analysis suggest that, given higher corn prices, the amount of propane demanded for corn drying will increase dramatically, even with much higher propane prices.
Least-Cost Livestock Production Rations
Authors: Allison John R. , Baird D. M.
Published: July 2016

Animal scientists and agricultural economists have been working together to answer the question, “What is the least-cost feed mix for a given set of prices?” In the 1950's sophisticated mathematical programming via computers generated a renewed interest in ration formulation. Since then, animal scientists and agricultural economists have been intrigued with determing least-cost rations for various livestock species. But this research has been devoted to determining the least-cost rations rather than minimizing feed cost per pound of gain or pound of product produced and/or minimizing total cost per pound of gain or product produced. Answering the latter question is a prime goal of animal nutrition research.
A Modification of the Modified Stollsteimer Location Moled
Authors: Fuller Stephen
Published: July 2016

The Stollsteimer plant location model is a normative tool appropriate for deterrmning least-cost number, size and location of a subindustry's marketing facilities. Several modification and extensions of the basic model have increased its value to the applied economist. Ladd and Halvorson developed a procedure to determine sensitivity of the optimal solution to variation in model parameters, i.e., the researcher may resolve how magnitude cost parameters are altered before the solution becomes non-optimal. The basic model's solution procedure prevented application where large numbers of potential plant sites were involved. A recent modification by Warrack and Fletcher effects a reduction in required computer time by approximating optimization, thus increasing size of plant location problems investigated. Polopolus extended the basic model to encompass multiple product plants and, in collaboration with Chern, modified the basic Stollsteimer model to permit substitution of a discontinuous, long-run plant cost function for the strategically assumed continuous linear form. Prior to the latter modification, the basic model accommodated only a long-run total plant cost function which was linear with a positive intercept.
Psychic Costs and Factor Price Equalization
Authors: Morgan Larry C. , Deaton Brady J.
Published: July 2016

There has been some perplexity among economists over the failure of interregional wage differentials to approach zero over time in an economy characterized by labor mobility. Johnson [7], and Sjaastad [14], among others, have hypothesized declining wage differentials among regions and have puzzled over contrary empirical results. It has generally been assumed that labor will flow toward regions paying the highest wage rate. This equilibrating framework has dominated economic thought on this problem area and has directed research along narrow market-oriented lines.

The hypothesis of this paper is that nonmarket considerations, specifically psychic costs, are a major force in preventing a market-directed flow of human resources. Moreover, “nonoptimal” allocation of human resources results from differences in workers' perceptions of utility between various regions.
A Prospectus for Research on the Agricultural Potential of the South
Authors: Purcell Joseph C.
Published: July 2016

The South plays an important role in American agriculture in that it is a major supplier of several commodities. However, due to relatively low yields, the region is a marginal producer of some important farm commodities grown in the United States. Given this constraint, the South still offers the greatest potential for expansion of agricultural output of any region in the country. The purpose of this paper is to evaluate this assertion. A rather broad perspective with implications for future research is provided.
Consumer Acceptance of Forage Finished Beef
Authors: Schupp Alvin , Smith David
Published: July 2016

Consumer acceptance of Choice, grain-finished beef has been attested in millions of American homes. Abundant feed grain and feeder calf supplies has made it possible for almost all Americans to purchase and consume feedlot beef.

Consumer acceptance of any product, however, can be changed when input substitutions in production are made. For various reasons, livestock producers may feel justified in changing inputs before analyzing an effect on the product or its demand. An example of input substitution occurred in mid-1974, when some beef producers began to market beef for slaughter directly from forage (or limited-grain) diets rather than after normal full-grain feeding. Consumer acceptance of forage-finished and limited-grain finished beef was uncertain at that time, particularly among customers of large supermarkets accustomed to Choice grade beef.
Administered Pricing by Cooperatives: Effect on Producer and Consumer Prices and Sales of Fluid Milk
Authors: Carley D. H.
Published: July 2016

Considerable controversy exists with regard to pricing agricultural commodities, especially when pricing departs from classical market concepts dependent on equating supply and demand. In a recent study of alternative Class I pricing systems, it was suggested that “pricing of milk and dairy products is one of the major policy issues to be resolved in the 1970s”. A different pricing system in federal milk orders was considered urgent enough that a concentrated study of pricing alternatives was pursued by the U.S. Department of Agriculture.
A Retirement Income Simulation Model for Farm Operators
Authors: Spence Lyle C. , Mapp Harry P.
Published: July 2016

Retirement planning for farm families is complicated by the unique relationship between the farmer and his business. Farm operators combine their labor and management with owned or borrowed capital to generate income, a combination of labor and investment return. When earned income exceeds immediate consumption needs, the excess is often invested in the farm business. In fact, the high demand for capital reinvestment in the business enterprise may leave little opportunity for farm families to establish a savings or investment program designed to produce adequate income for their retirement needs.
Flood Insurance as a Component of Land Use Management
Authors: Lacewell Ronald D. , McNeely John G.
Published: July 2016

Floods will continue to cause damage as long as development continues upon flood-prone lands. Inevitably, flooding occurs, damage ensues and there is personal suffering and loss. A burden of rescue and relief operations falls on all taxpayers.

Flood control projects cannot protect against all damage, and not all flood hazard areas are amenable to flood control projects. An alternative to continued construction of engineering works for flood protection is flood plain management. To be effective, this must be brought about through political and legal means. Its purposes are to minimize the consequences of flooding and to achieve, in the long run, an optimum use of the flood plains.
Computer Programming and Agricultural Economists—Bridging the Gap
Authors: Kletke Marilyn G. , Kletke Darrel D.
Published: July 2016

Most ongoing research in the agricultural economics department at Oklahoma State University uses the computer at some time during its development. This is also true nationwide. It has become apparent that efforts need to be made to improve communications between economist and computer. This paper briefly presents alternatives available to the economist and advantages and disadvantages associated with each. Based on experiences of the agricultural economics department at Oklahoma State University, a method for improving communication between economist and computer programmer will be developed.
The Impact of Energy Prices on Optimum Machinery Size and the Structure of Agriculture: A Georgia Example
Authors: Musser Wesley N. , Marable Ulysses
Published: July 2016

In analyzing the impact of recent energy price increases on agriculture, agricultural economists have suggested the possibility of substitution of labor for farm machinery inputs [3, pp. 881-833] [17, pp. 195-196]. Since large energy input is embodied in farm machinery [14, p. 195], energy-price increases not only raised costs of machinery fuel, but also provided a cost-push effect on other fixed and variable machinery cost components. However, these potential price incentives have not been sufficient to reverse aggregate historical trends towards larger equipment in current machinery purchases [11, 15]. Understanding the nature of recent shifts in optimum machinery size on different farm sizes is important for consideration of future farm size and labor-capital structure of agriculture.
Determining Optimal Replacement Age of Beef Cows in the Presence of Stochastic Elements
Authors: Bentley Ernest , Waters James R. , Shumway C. Richard
Published: July 2016

Feeder calf producers face a problem common to all owners of productive assets: how long should the asset (brood cow) be used before it is replaced? Expected productivity of a brood cow can be measured by two parameters: (1) the likelihood that she will wean a calf, and (2) its anticipated weight when weaned. Both are independent functions of the cow's age which decline annually after reaching peaks in the early years of her productive life. The calf producer who expects to maximize profits in the long run must choose an optimal rate of replacement for his brood cows.
Use of Probabilistic Cash Flows in Analyzing Investments Under Conditions of Risk and Uncertainty
Authors: Richardson James W. , Mapp Harry P.
Published: July 2016

Managers of business firms, large or small, farm or nonfarm, must make investment decisions under conditions of risk and uncertainty. However, in evaluating investments, the assumption of perfect knowledge has often been used to simplify the analysis. For example, an estimate of average annual net returns is frequently discounted into perpetuity to evaluate a real estate investment alternative. Capital budgeting literature suggests a number of approaches to evaluating alternative investments. However, use of concepts such as the payback period, average rate of return, internal rate of return and net present value embodies the assumption of perfect knowledge.
Market Area Sensitivity as a Measure of Railroad-Barge Competition in the Oklahoma-Kansas Wheat Transportation Market
Authors: Johnson Marc A. , Mennem Gary M.
Published: July 2016

New directions in national transportation policy have rekindled interest in transportation market structure. The Department of Transportation policy goal to equalize competitive opportunities between modes requires greater understanding of intermodal competitiveness in terms of inherent advantages of each mode in serving particular transportation markets. Flexible railroad ratemaking in the absence of market dominance, provided for in the Railroad Revitalization and Regulatory Reform Act of 1976, requires measures of intermodal competitiveness to define market dominance.

This article serves two purposes. The first is to develop market area sensitivity as a tool for distinguishing competitive from noncompetitive transportation market structures.
University Outlook Programs: A Review and Some Suggestions
Authors: Harris H. M.
Published: July 2016

Conducting an outlook program appears to be simple. The aim of outlook is to accurately predict future economic conditions and to rapidly disseminate this information to producers, agribusiness firms and/or consumers, to help them make intelligent production, purchasing and marketing decisions. But those involved know that the appearance of simplicity in conducting an outlook effort is deceiving. Outlook work is frustrating—sometimes gratifying-just as often, humiliating.

The focus here is upon outlook programs in agricultural economics department of the land-grant universities. The role of USDA in outlook work is discussed only in the context of its support of state efforts.