bluuebunny/crossref_metadata_2025 huggingface dataset:
External Finance: A Necessary Component in Growth Projections for Southern Agriculture
Authors: Penson John B.
Published: July 2016

Literature is replete with studies projecting the performance of agriculture to 1980, 1985 and the year 2000. These studies are usually based upon a dynamic certainty econometric model which, in turn, either assumes or projects annual rates of growth in the stock of producer capital over the time period covered by the study. In two recent assessments of the state of the art King [12] and Tweeten [27] cited several needed changes in our approach to sector econometric projections models, which should lead to increases in accuracy and consistency of future projections. Among those listed were incorporation of risk and uncertainty associated with expected outcomes and integration of disparate models into an aggregate sector projections system. Both of these authors failed, however, to identify the lack of financing considerations in present sector projections models. For example, those studies that sought to explain aggregate demand for farm producer capital when projecting the capital stocks associated with future output levels ignored the implicit rental price of capital and other variables suggested by finance and risk theory.
The Impact of Employment Expansion on Rural Community Service Expenditures: A Small Area Model
Authors: Shapiro Barry Ira , Morgan Larry C. , Jones Lonnie L.
Published: July 2016

Considerable attention has been devoted to understanding factors that influence public service expenditures in rural communities. Much public service research has been focused on the question of whether economies of population size exist for public service delivery systems, and, if so, what are the optimum size delivery systems. Of particular concern to communities is the impact of economic growth on provision of public services. Community leaders need to know how to plan for provision of these services when facing changing economic conditions. They must be able to evaluate whether or not economic growth, especially rural industrialization, should be followed as a strategy for enhancing both quality and quantity of these services.
An Examination of the Trend in Industrial Dispersion in Oklahoma From 1963 Through 1974
Authors: Blalock M. Gale , Doeksen Gerald A.
Published: July 2016

Descriptive data have been used to show how industrial job creation is growing faster in nonmetro areas than in metro areas. For example, Haren [5] and Till [11] describe industrial decentralization in the 60s. Janssen and Tweeten [7] illustrate how the trend has continued into the 70s. In Oklahoma, Childs and Doeksen [1] report on how industry has decentralized from 1963 through 1971.

The objective of this paper is to examine and statistically test the dispersion of new manufacturing jobs with respect to size of community in Oklahoma from 1963 through 1974. Previous studies have either been descriptive or have used some measure of dispersion, such as entropy, without statistically testing the results.
Boll Weevil Control Strategies: Regional Benefits and Costs
Authors: Taylor C. Robert , Lacewell Ronald D.
Published: July 2016

Throughout the southern states and at the federal level, much attention is being focused on the appropriate strategy for controlling cotton insect pests, particularly the boll weevil. This paper presents estimated economic impacts to farmers, regions and consumers of implementing three alternative boll weevil control strategies. One strategy evaluated is a proposed boll weevil eradication program which involves integrating many controls including insecticides, reproduction-diapause control by early season stalk destruction, pheromone-baited traps, trap crops, early season control with insecticide, and massive releases of sterile boll weevils. The plan is to eradicate the boll weevil in the U.S., and then indefinitely maintain a barrier at the U.S.-Mexico border to prevent future weevil immigration to the U.S.
An Analysis of Optimal Farm Capital Structure
Authors: Musser Wesley N. , White Fred C. , McKissick John C.
Published: July 2016

Use of debt in financing agricultural firms is an issue of perennial interest. Much of this interest reflects farmers’ disastrous experience with debt during the Great Depression. The foreclosed mortgages and bankruptcies of that era reaffirmed an historical feeling that achieving a level of zero debt or financial leverage was a high priority goal. E. G. Johnson, who was Chief of the Economic and Credit Research Division of the Farm Credit Administration, articulated the position in the 1940 Yearbook of Agriculture that this goal is even more important than increasing profits: “It may be well to emphasize again that while credit properly used may help farmers to increase their income and raise their standard of living, the fact must not be overlooked that more credit will not cure all the ills of agriculture. The greatest need is to assist the farmers in getting out of debt, not deeper into it,” [6, p. 754]. As memories of the Great Depression faded, agricultural economists tended to emphasize the effect of debt on farm size and therefore net income.
Impacts of Community Characteristics on the Attributes of Public Education
Authors: Debertin David L.
Published: July 2016

A public school student is a product of combined influences of the home and his peers, as well as the school. Similarly, the school system within a community represents the combined impact of influence of taxpayers, teachers and administrators. Local elementary and secondary schools cannot operate independently of desires and wishes of residents in the community. This study presents an analysis of linkages between community characteristics and educational service provided by the public school.
A User-Oriented Model for Incorporating Risk into Short-Run Decisions
Authors: Anderson Kim B. , Holt John
Published: July 2016

Decision makers, comparing production alternatives and faced with risk, normally utilize a large amount of information from many sources. To compare alternatives, information must be organized and net returns calculated. Techniques producing single value estimates, such as partial budgeting, do not adequately utilize available information, produce enough information to facilitate an adequate comparison of alternatives, or account for risk and uncertainty. Furthermore, single value techniques fail to take into account skewed probability distributions of various alternative outcomes. Decision makers need methods to analyze data when making specific recurring short-run decisions in a risky and uncertain environment.
Effects of EEC Agricultural Policy on European Imports of Meat, Dairy Products, and Eggs
Authors: Pagoulatos Emilio , Debertin David L. , Pagoulatos Angelos
Published: July 2016

Trade in temperate zone agricultural products has remained largely outside the trend toward liberalization that has characterized international trade in the last 30 years. One of the most debated issues in this regard has been the European Community's Common Agricultural Policy (CAP) and its effects on world trade. Recent evidence emphasized the implications of the protectionist nature of the CAP in stimulating internal trade and slowing down third countries' farm exports to the EEC. But, no attempt has been made to estimate quantitatively the magnitude of the effect of the CAP system of import protection on EEC supply, consumption, and trade of agricultural products.
Income Tax Aspects of Liquidation in Multiperiod Linear Growth Models
Authors: Reid Donald W. , Musser Wesley N. , Martin Neil R.
Published: July 2016

Since the mid-1960s, agricultural economists have given much attention to research on farm-firm growth. One procedure used in this type of research has been multiperiod linear programming models, e.g. [1, 6, 9, 11, 14, 17]. Several researchers using the multiperiod linear programming framework have compared optimizing criteria. Generally, comparisons were made between maximizing some type of present value criterion and maximizing net worth at the end of the planning horizon. The different assumptions associated with the two maximizing criteria have resulted in different optimal growth patterns.
Relative Sensitivity of Selected Distributed Lag Estimators to Measurement and Specification Error
Authors: Bauer Larry L. , Mundy S. Darrell , Sappington Charles B.
Published: July 2016

The notion that one economic variable has an impact on another over several time periods is not uncommon to economic thought. Irving Fisher was the first to introduce empirically the notion of distributed lags using different shapes of probability curves. Alt continued the work, but made no a priori assumptions about the distribution of the lag as Fisher had done. Koyck and Nerlove returned to and extended the work of Fisher assuming a priori a monotonically declining distribution. More recently Jorgenson, Almon, and Johnson have developed estimators which, like those of Alt, assume only a continuous lag function of unspecified shape. There is evidence, however, that the Jorgenson and Johnson techniques are extremely sensitive to errors of measurement and specification because in applied work, reasonable estimates of lag distributions occur infrequently.
Major Developments of Significance to Agriculture in the 1970s and Prospects for the 1980s: Comments
Authors: Lee John E.
Published: July 2016

In the final year of an eventful decade, it is appropriate to take stock of where we are, what the events of this decade really mean, and what the next decade holds in store. What really happened in the 1970s? As for any other decade, that question is not easy to answer. It will be easier to answer a few decades hence when we are better able to see the events of lasting significance in historical perspective, and to distinguish them from the short-lived phenomena that cloud both our vision and our understanding because we are still too close to them. Furthermore, decades are simply 10-year units in a continuum of events and are not necessarily logical units of time to study.
Comment: Agricultural Economics Research and Extension Needs of Small-Scale, Limited-Resource Farmers
Authors: Perry Ben L.
Published: July 2016

West is to be commended for (1) the organization of his discussion, (2) the careful delineation of the research areas, (3) the thoroughness of his research and the excellent documentation of the research efforts of social scientists in treating the problem/s of the small-farm operator, and (4) the development of a means-end schema of “what is,” “what ought to be” with implications for future research, programs, and public policy.

As West indicates, there is need for a redefinition of small farm. The $20,000 gross sales limit is inadequate. Most definitions do not include the value added of products produced and consumed by the family. Some states, for example Florida, use figures much lower than $20,000 to characterize small farms. The distinction between full-time and part-time farmers and their incomes is not clearly delineated. A national concern should be the redefinition of the term, “small farm.” Heterogeneous characteristics of small farms should not inhibit the generation of profile information by geographic regions.
Risk Ratios and Hedging: Florida Feeder Cattle
Authors: Ward Ronald W. , Schimkat Gregory E.
Published: July 2016

Hedging livestock historically has been practiced mainly by midwestern and Great Plains producers because they are the dominant force within the U.S. cattle industry. Likewise, futures contract definitions and delivery points have been tailored to the needs of these producers. Recent growth in the feeder cattle industry in the Southeast, and particularly in Florida, suggests that greater hedging use may be applicable to southeastern producers. Interest in expanding the usefulness of the feeder cattle contracts to these growth regions is indicated by the recently established delivery point in Montgomery [2].
Implication of Improved Irrigation Pumping Efficiency for Farmer Profit and Energy Use
Authors: Hardin Daniel C. , Lacewell Ronald D.
Published: July 2016

Irrigated crop production on the Texas High Plains accounts for more than 80 percent of the value of total crop production in the region. Total economic activity associated with crop production was estimated to be $2.18 billion in 1967 [11]. Because of the importance and contribution of irrigation to the regional economy, any significant adjustments in irrigation create repercussions throughout the region.

The price of natural gas within Texas is not subject to interstate regulations. Since 1973, dramatic increases in natural gas price (from $0.50 to more than $2.00/mcf) in the state have caused considerable concern about the economic feasibility of continued irrigation. Research was conducted to estimate the effect of continuing natural gas price increases on irrigation [8].
Production Responses and Price Determination in the Florida Watermelon Industry
Authors: Wall G. Bryan , Tilley Daniel S.
Published: July 2016

This article presents a model of the Florida watermelon industry that quantifies aggregate entry and exit decisions and the effect of interregional competition on prices received by Florida growers. The model development is presented first and is followed by estimation of the model's parameters. Policy implications from the model are then developed.
Inventory and Price Equilibrium Models Applied to the Storage Problem
Authors: Blake Martin J. , Johnson Stanley R.
Published: July 2016

Currently developments in two bodies of literature address the determination of optimum levels of storage. One approach, the use of inventory models, has developed as a generalization of the familiar lot size problem in management science models [9, 17]. The decision unit in these models is the firm or frequently a decentralized management unit or authority [4, 12, 15].
Estimating U.S. Demand for Meat With A Flexible Functional Form
Authors: Huang Chung-Liang
Published: July 2016

One of the fundamental problems in applied econometric work is the choice of functional form. Economic theory is insufficient in suggesting the functional forms appropriate to the specification of economic relationships. Conventionally, the functional form of the regression equation is assumeda prioriand parameter estimates are obtained according to certain desirable criteria, such as least squares. A wide variety of functional forms have been investigated empirically with respect to the demand function for food, yet no single functional form has been generally accepted among economists [2, 6, 7].
An Econometric Model of Farmers' Demand For Commodity Credit Corporation Loans
Authors: Golden Michael , Burman Leonard
Published: July 2016

Commodity Credit Corporation (CCC) price support loan activity has important implications for U.S. Treasury outlays. In 1977, CCC purchases of agricultural commodities (the vast majority of which were in the form of support loans) amounted to $3.9 billion. In other words, roughly 25 percent of federal purchases of nondurable goods, or 2.7 percent of all federal purchases, arose from CCC commodity transactions. In 1976, CCC purchases were $900 million, only about 9.5 percent of federal purchases of nondurables and 0.7 percent of total federal purchases of goods and services. Furthermore, the quarterly pattern of the series is extremely volatile, with swings often exceeding $500 million in a single quarter. In the six years between 1972 and 1977, nominal CCC purchases were negative in each of the first three years and positive in the last three.
Estimating Recreation Values Associated With Land Use Changes
Authors: Musser Wesley N. , Ziemer Rod F.
Published: July 2016

Achieving optimal use of wildlife resources is a classic problem in natural resource economics. Ciriacy-Wantrup argued that wildlife resources are a case of a fugitive resource for which private property rights cannot easily be defined and therefore government policy may be necessary to obtain optimal use [5, pp. 141–145]. Land use planning is one area of government policy in which limited attention has been given to management of wildlife resources. One reason for the neglect may be the lack of emphasis on estimating the value of wildlife recreation experiences associated with particular land uses. An exception is the work of Martin, Tinney, and Gum [16] who did not look at marginal land use changes but did consider the termination of all cattle ranching in Arizona and its effect on recreational and agricultural economic surpluses.
A Theoretical Framework for Analyzing Social Costs Of the Tobacco Program
Authors: Johnson Ruth C. , McManus B. R.
Published: July 2016

Government control of tobacco production through output restrictions and price supports began with the Agricultural Adjustment Act of 1933. The primary goals of the program through the years have been to stabilize tobacco prices and to improve farm income. The tobacco program came under public scrutiny after the U. S. Surgeon General's Report on Smoking and Health in 1964 [11] and the report this year [12]. Critics charge that tobacco production policies of the U. S. Department of Health, Education, and Welfare are inconsistent or even in direct opposition. These issues present a policy dilemma. A theoretical framework is devised for analyzing social costs of the tobacco program and application of the framework to current policy issues is examined.
The Future of Federal Programs for Southern Commodities
Authors: Goodwin John W. , Williams Howard C. , Ware Joseph A. , Stansberry Robert L.
Published: July 2016

The title assigned for this article suggests that a group of bureaucrats can accurately predict the actions of both the legislative and executive branches of government. Though the compliment is appreciated, it must be recognized that both the legislative and executive branches of government are subject not only to periodic changes in personnel, but also to abrupt changes in the attitudes exhibited by given personnel. Probably the most dramatic recent example of abrupt change in legislative and executive attitude in the area of agricultural policy is the series of events that occurred immediately before, during and subsequent to the January 4, 1980, announcement of the suspension of trade with the Soviet Union. Thus, it is unlikely that any analyst — be he bureaucrat, academic, or businessman — can accurately predict either legislative or executive decisions over the next 30 days, let alone over the next 30 years. Therefore, in analyzing the future of federal programs for Southern commodities, one is to some extent limited to an examination of whether such programs have in fact accomplished their stated purpose, and secondarily to an examination of whether the conditions and circumstances that originally created the need for these programs persist to a degree that justifies their continuation with or without any necessary modifications.
U.S. Aggregate Agricultural Production Elasticities Estimated by an Arima Factor Share Adjustment Model
Authors: Shumway C. Richard , Talpaz Hovav
Published: July 2016

In an effort to circumvent the multicollinearity problems associated with direct estimation of the aggregate agricultural production function, many economists have used indirect estimation procedures. Because in equilibrium the partial production elasticities of an industry composed of perfectly competitive firms are equal to their respective factor shares, the latter have been used as a means of estimating production elasticities. Most researchers have simply assumed that actual factor shares are equilibrium values (e.g., Griliches; Rosine and Helmberger). Substantive contributions recently have been made in explaining the process of factor share adjustment by changes in prices and technology over time (Binswanger; Lianos). However, except for the work nearly 15 years ago by Tyner and Tweeten (1965), agricultural economics literature is largely silent on the measurement of differences between actual and equilibrium factor shares. It is this issue with which we are primarily concerned in this article. Therefore, our point of departure is the work by Tyner and Tweeten.
Application of a Bio-Economic-Engineering Model for Shrimp Mariculture Systems
Authors: Adams Charles M. , Griffin Wade L. , Nichols John P. , Brick Robert E.
Published: July 2016

The culture of marine invertebrates, collectively termed mariculture, has received much attention as a new and potentially lucrative industry. Much research has been devoted to molluscs (oysters, clams, and mussels) and crustaceans (shrimp, crawfish, crabs, and lobsters) (Bardach, Ryther, and McLarney). In particular, effort has been directed to the development of a technologically and commercially feasible penaeid shrimp mariculture scheme (Broom; Mock and Murphy; Neal and Latapie; Parker and Conte; Wheeler). Results of extensive research efforts show promise that the technological feasibility of penaeid shrimp farming in Gulf coastal regions of the United States is near to being a reality.
Developing Regional Input-Output Models from the U.N. Format Adopted by the U.S. in the New 1972 Input-Output Model
Authors: DiPietre Dennis , Walker Rodney L. , Martella David R.
Published: July 2016

Since the mid-1940s, interest in the interrelationships of subnational economies has been growing. Part of this interest flows from a realization of the need to manage regional growth and mitigate the effects of economically unstable components of regional economies on the welfare of the people within the region. Aggregated macroeconomic models applied at the national level commonly provide insufficient information about their components, the regional economies. This lack has led to the development of state and regional macro models which can provide specific information relevant to state or local decision makers. Such information includes the availability of regional resources necessary to support and expand regional production and the impacts of changes in demand on the welfare of local inhabitants. These models are also useful in estimating the impacts of national policy on regional economies. The development of regional input-output models is an example of the trend toward fuller understanding of regional economies. State or regional input-output models can be constructed either by survey or by estimation from the national input-output model. Time and money constraints have increased the popularity of the latter approach among regional economists.
Inland/Ocean Waterborne Transportation Innovations and Port Charges
Authors: Belcher Gary L. , Jones James R. , Lindeborg Karl H.
Published: July 2016

Containerization of transoceanic general cargo shipments was pioneered in 1966 when Sea-Land Service, Inc. initiated a containership service from the U.S. East Coast to Europe. Shipping of cargo in uniform-sized sealed containers of truck-trailer size revolutionized the marine transportation industry during the 1970s. The intermodal container enables the shipper to pack his cargo in the container at his own premises and deliver the cargo to a port to be transferred to an ocean vessel and delivered overseas to the foreign consignee, without the contents of the cargo being handled at each stage of the journey. Initially, the container was moved to an ocean port by rail or truck, but recently this leg of the movement has been adapted to inland river movement via the container-on-barge.
The Determinants of Food Stamp Program Participation
Authors: Epperson J. E. , Huang C. L. , Fletcher S. M. , Scearce W. K.
Published: July 2016

The Food Stamp Act of 1964 (with subsequent amendments) charges the U.S. Department of Agriculture with extending the benefits of the program to all households willing and eligible to participate. This duty was reinforced by a federal court ruling in 1975 (Beckel and MacDonald; Bennett et al. vs. Butz et al.).

Because of the importance of the Food Stamp Program (FSP), numerous studies have been conducted to gauge its intended effectiveness. Areas of study have included nutritional benefits of the program, impact on food expenditures, identification of ways to improve the rate of program participation, and identification of socioeconomic characteristics that may be important indicators of participation or nonparticipation in the program (for example, see Davis and Neenan; Lane; Neenan and Davis 1977, 1978; Salathe; Scearce et al.; Smith and Rowe; West; USDA, 1976, 1978).
A Model of Weekly Price Discovery for Florida Celery: Reply
Authors: Shonkwiler J. Scott , Pagoulatos Emilio
Published: July 2016

Nelson Updaw raises several issues concerning our study of weekly price discovery for Florida celery. His comments require some clarification and correction so that his criticisms can be allayed.

First, there appears to be some confusion surrounding the intraseasonal (semiweekly) operation of the Florida Celery Exchange and interseasonal acreage allotments. During the time period of our analysis (the 1972–1977 seasons) no marketing allotments were imposed by the Exchange as Updaw suggests; rather, the Exchange practiced only semiweekly price-setting activities, and acreage allotments were applicable on an annual basis only.
Value Judgments and Efficiency in Publicly Supported Research
Authors: Ladd George W.
Published: July 2016

This paper is concerned only with research that is intended to guide, influence, or illuminate public policy choices. As professionals, we economists exhibit an unfortunate contradiction in values. Economists insist on making value judgments because they are needed to do research on public policy issues, and, simultaneously, insist on not discussing them, thereby keeping ourselves ignorant about what we are doing.
Assessing Structural Change in the Demand for Food Commodities
Authors: Haidacher Richard C.
Published: July 2016

Perhaps out of a concern for efficiency, or for other reasons, we develop or adopt rules—the simpler are called “rules of thumb”—to direct and govern much of our behavior. The bases for these rules are many and varied, assumption, conventional wisdom, experience, theory, to mention a few.
Application of Linear Goal Programming to Forest Harvest Scheduling
Authors: Hotvedt James E.
Published: July 2016

Forest management and planning is complex, involving the application of many scarce and diverse resources to the production and maintenance of a multitude of products and services from the forest over a relatively long period of time.
The Market Value of Flue-Cured Tobacco Quota
Authors: Williams Fred E.
Published: July 2016

Congress has seriously considered elimination of the tobacco program during recent congressional debates to extend and/or modify tobacco legislation. One issue in these debates has been compensation of current owners of tobacco quota for their loss of net worth should the tobacco program be eliminated.
Impact of Domestic Food Programs on Nutrient Intake of Low-Income Persons in the United States
Authors: Chavas Jean-Paul , Keplinger Keith O.
Published: July 2016

Domestic food programs in the United States originated in the 1930s, primarily in response to the needs of the agricultural sector. They served as a disposal mechanism for agricultural surpluses and were designed to stimulate demand. However, the nature of U.S. food programs has changed significantly during the last two decades. Out of a growing concern for the poor and the needy, their primary focus has become the improvement of the nutritional status of low-income families (Paarlberg, pp. 99-102.).
Using Dual Objectives as Decision Guides to Hedge Oklahoma Feeder Cattle—An Economic Evaluation
Authors: Russell James R. , Dickey Matthew C.
Published: July 2016

The continued volatility of feeder cattle prices sustains interest in hedging strategies. The stocker operator may use technical or fundamental analysis for decision guides in the hedging program. Alternatively, the stocker operator could use profit objectives to guide the operator's hedging decisions. Previous works have developed strategies based on technical tools such as moving averages (Lehenbauer), point and figure analysis (Lehenbauer), and oscillators (Russell and Franzmann). Similarly, strategies have been developed that use fundamental analysis as a decision aid (Brown). However, no work has examined, in detail, strategies based on a management by objective philosophy—although at times the popular press has emphasized this approach (Farm Futures).
Private and Public Sector Economies of Lignite-Energy Resource Development in Rural Central Texas
Authors: Andrews Donald R. , Murdock Steve H. , Jones Lonnie L.
Published: July 2016

Demand for lignite-energy resources for the production of fuel for generating electrical power in Texas has increased significantly as a result of dramatic real price increases in the more traditional fuels, such as natural gas and crude petroleum (Kaiser).
Recreational Activities and Nonmarket Valuation: The Conceptualization Issue
Authors: Stoll John R.
Published: July 2016

Recreational pursuits have been discussed by economists and others involved in the planning of public sector investment since early in the 1930s. This discussion developed from a peripheral concern to an intense interest as legislative legitimacy was gained for the use of recreational benefit measures to justify public sector investment in multiple purpose river developments. The history of recreation benefit assessment has been adequately discussed elsewhere. In this paper, the justification for inclusion of recreation benefits in economic analyses is not addressed. However, it is worth noting that emphasis has shifted over time from an almost exclusive concern with recreation opportunities provided by development activities to an emphasis upon the recreation opportunities lost in that process as well.
Determinants of Household Expenditure on Fresh Vegetables
Authors: Capps Oral , Love John M.
Published: July 2016

Current concern about the health effects of American dietary habits has led to recommendations by government officials and nutrition experts that consumers increase their consumption of vegetables (U.S. Congress, Council for Agricultural Science and Technology).
The Southern Agricultural Economics Association: Past, Present, and Future
Authors: Havlicek Joseph
Published: July 2016

It is a privilege and pleasure to have the opportunity to present the inaugural presidential address of the Southern Agricultural Economics Association (SAEA). As I considered alternative topics which might be candidates for this presidential address, an intriguing question kept attracting my attention. Why are there regional agricultural economics associations and in particular why is there a Southern Agricultural Economics Association? What services does the SAEA provide to its membership that a national association such as the American Agricultural Economics Association does not provide? Or possibly it is not what services a regional association provides but how and in what kind of an environment the services are provided to members.
Granger Causality and U.S. Crop and Livestock Prices
Authors: Ziemer Rod F. , Collins Glenn S.
Published: July 2016

Agricultural economists have recently been attracted to procedures suggested by Granger and others which allow observed data to reveal causal relationships. Results of this study indicate that “causality” tests can be ambiguous in identifying behavioral relationships between agricultural price variables. Caution is suggested when using such procedures for model choice.
Public Environmental Amenity Benefits of Private Land: The Case of Prime Agricultural Land
Authors: Bergstrom John C. , Dillman B. L. , Stoll John R.
Published: July 2016

Failure of land markets to account for environmental amenity benefits may lend support to public policies to protect agricultural land. The contingent valuation method is employed to estimate willingness to pay for such amenities in Greenville County, South Carolina. Marginal household amenity benefits were estimated at $.06 per thousand acres using a payment card in a mail survey with 53 percent response. Bid payment vehicle was found not to significantly influence bids received. The informational structure of the contingent market was found to influence valuation responses, reinforcing the hypothesis that respondents react to alternative contingent market structures. The relationship between contingent market structure and directional effects upon responses is an important area for future research.
Preference Among Risky Prospects Under Constant Risk Aversion
Authors: McCarl Bruce A.
Published: July 2016

Risk analyses often require a measure of individual risk aversion. Here a procedure is presented to calculate risk aversion parameter ranges wherein individuals would exhibit preference among a set of risky prospects.
An Analysis of Market Structure and Pricing in the Florida Celery Industry
Authors: Taylor Timothy G. , Kilmer Richard L.
Published: July 2016

The pricing behavior of the Florida celery industry under the current federal marketing order was examined by analyzing the implied market structure of the industry using a model proposed by Appelbaum. Point estimates of the oligopoly power index suggest that some degree of price enhancement above that which would be characterized by a perfectly competitive market may have occurred. However, the bulk of statistical evidence suggests that the departure from marginal cost pricing implied by the industry's pricing behavior is not statistically significant.
A Markov Chain Analysis of Pork Farm Size Distributions in the South
Authors: Disney W. Terry , Duffy Patricia A. , Hardy William E.
Published: July 2016

Concerns over declining farm numbers, shifts in farm size distribution, and associated infrastructural problems have led to a heightened awareness of structural considerations within policy making circles. Future policy decisions will have substantial structural consequences for the agricultural industry. Often, however, the indirect effects of grain pricing policies on the livestock sector have been overlooked in these policy decisions. The incorporation of price effects into a Markov chain analysis of pork farm size distributions and the simulation of those projections to the year 2000 under various price scenarios should provide some insight into the future structure of livestock farming in the South.
Processor Demand and Price-Markup Functions for Catfish: A Disaggregated Analysis with Implications for the Off-Flavor Problem
Authors: Kinnucan Henry , Sindelar Scott , Wineholt David , Hatch Upton
Published: July 2016

Off-flavor in catfish restricts farm marketings 10 to 45% depending on the season. The economic impact on society of this imposed supply restriction depends, in part, on the elasticity of demand for catfish. Econometric estimates based on disaggregated processing plant data indicate an elastic demand at the processor level but an inelastic demand at the farm level. Short-run social welfare gains from the elimination of off-flavor are estimated to equal 12.0% of farm revenues ($10.0 million in 1983). The inelastic demand for catfish at the farm level, however, means that most of the societal gains will accrue to individuals beyond the farm gate. Thus, an economic justification exists for public sector funding of off-flavor research.
The Farm Level Effects of Better Access to Information: The Case of Dart
Authors: Bosch Darrell J. , Lee Katherine L.
Published: July 2016

In this study, two methods of entering and accessing dairy herd records are compared: the traditional mail-in Dairy Herd Improvement (DHI) system and the Direct Access to Records by Telephone (DART) system, which provides more timely and convenient access to records. An evaluation of DART was carried out using mail survey responses from 117 DART users and telephone surveys of 40 randomly selected users. Results indicate that DART users are generally satisfied with the system and feel that it improves their herd management. Variations in use of the DART system by DART users are explained by herd, cost, and management variables. DART users and comparable non-DART, DHI users are compared with respect to gains in herd production efficiency. Results indicate that DART users made somewhat better gains in most efficiency measures but that the differences were generally not statistically significant.
Forecasting Cattle Prices in the Presence of Structural Change
Authors: Goodwin Barry K.
Published: July 2016

Recent empirical research and developments in the cattle industry suggest several reasons to suspect structural change in economic relationships determining cattle prices. Standard forecasting models may ignore structural change and may produce biased and misleading forecasts. Vector autoregressive (VAR) models that allow parameters to vary with time are used to forecast quarterly cattle prices. The VAR procedures are flexible in that they allow the identification of structural change that begins at ana prioriunknown point and occurs gradually. The results indicate that the lowest RMSE for out-of-sample forecasts of cattle prices is obtained using a gradually switching VAR model. However, differences between the gradually switching VAR model and a univariate ARIMA model are not strongly significant. Impulse response functions indicate that adjustments of cattle prices to new information have become faster in recent years.
An Economic Evaluation of Soybean Stink Bug Control Alternatives for the Southeastern United States
Authors: Chyen David , Wetzstein Michael E. , McPherson Robert M. , Givan William D.
Published: July 2016

Methyl parathion or Penncap M (an encapsulated methyl parathion) are used extensively throughout the United States for controlling stink bug pests in soybeans,Glycine Max(L.) Merrill. However, this insecticide is highly toxic to mammals, birds, and non-target arthropods, and thus is less environmentally sound than other insecticides. For environmental and human health considerations, investigating alternative insecticides for control is desired. For this investigation, research based on field experimental data from Florida, Georgia, and Louisiana during the 1988 and 1989 growing seasons were employed. Results indicate that alternative, currently available, and less toxic insecticides may reduce producer costs, increase yield, and improve soybean quality. These alternative insecticides include Scout (tralomethrin), Karate (lambda-cyhalothrin), Orthene (acephate), and Baythroid (cyfluthrin). In terms of improved profits these alternative insecticides may dominate methyl parathion or encapsulated methyl parathion.
Production Relationships in South Central Agriculture
Authors: Poison Rudolph A. , Shumway C. Richard
Published: July 2016

Output supplies and input demands were estimated for each of five South Central states. The model structure in each state was based on prior parametric tests of homothetic separability, and estimates were generally consistent with a competitive, profit-maximizing industry. Considerable diversity among states was evident in selected production relationships. These results further document the non-uniform ways in which producers respond to government farm programs and market information.
The Impacts of Quality on Cash Fed Cattle Prices
Authors: Jones Rodney , Schroeder Ted , Mintert James , Brazle Frank
Published: July 2016

Quality factors affecting fed cattle prices were examined during a six-month period in southwestern Kansas. Transaction prices were significantly affected by the percentage of cattle expected to grade choice times the choice-to-select carcass price spread, finish uniformity, average weight, dressing percentage, breed, number of cattle purchased by a single packer on a given day, the packer, the feedyard, the day-of-the-week the cattle were sold, and the number of bids received. Asking prices were significantly affected by many of the same factors. Asking and transaction prices reflected approximately 25 percent of the packer value differentials for expected carcass quality grades.
A Viewpoint of Regional Research
Authors: Lee Alvin T. M.
Published: July 2016

The Regional Research Program has potential for being the elite among research programs and to be a high status symbol for those associated with it. That it is not so means that it is not achieving its potential and that it is falling short of the original objectives. Since its inception, the regional research program has been praised and condemned. There appears to be more dissatisfaction than satisfaction with both the administrative procedures and the subject matter content of the program. Control of the program, the administrative structure and its effectiveness have been the subject of much discussion and debate. Some say the program has yielded little, and some of those who defend it do so on the basis that it has enabled researchers to meet and discuss their work, which in itself is worthwhile.
An Input-Output Approach to the Study of the Flow of Funds to Agricultural Capital Markets
Authors: Bobst B. W.
Published: July 2016

Agriculture is experiencing an increasing reliance on commercial and governmental sources of capital in order to finance the adoption of new technology and the organizational changes made necessary by that technology. If this trend progresses, it is reasonable to suppose that the interdependence of flows of funds to the farm sector with flows to other sectors will become greater and will become a more important consideration in matters of farm credit policy. In a recent paper, Lee has called for further research into the implications of changes in the financial structure of the farm sector, among them the growth of alternative sources of funds and the changing roles of major lending groups. It is the intent of this paper to suggest a procedure through which the financing of the farm sector can be analyzed as one of a number of economic sectors which are financially interrelated.
Educational and Occupational Plans of Farm Boys in 1967
Authors: Lu Yao-chi
Published: July 2016

Decisions farm boys make upon graduation from high school with regard to education and occupation are important to their future welfare, the optimum allocation of human resources, and the rate of economic growth. In order to help these boys make educational and occupational plans, parents, teachers, counselors, and other adults must understand what factors influence their choices. Several well designed studies have been conducted in other states by sociologists and economists within this general area. This analysis was specifically designed to provide information about the factors which influence Oklahoma farm boys' educational and occupational plans.
A Comparison of Objective Function Structures Used in a Recursive Goal Programming-Simulations Model of Farm Growth
Authors: Dobbins Craig L. , Mapp Harry P.
Published: July 2016

Adjustments in enterprise organization and resource use by firms in response to changing prices, yields, technology, and expectations are of interest to production economists and farm management specialists. Comparative statics has been the primary means of analyzing the impact of changes in these variables on the firm.
Simulating the Performance of a Multiple Exchange Mechanism Market
Authors: Kilmer Richard L. , Ward Ronald W.
Published: July 2016

The impact of a monopolist or monopsonist on the price and output performance in comparison with perfectly competitive markets is well documented. These markets are coordinated through spot market exchanges.
Some Evidence and Implications of Structurel Change in Retail Demand for Meats
Authors: Nyankori J. C. O. , Miller G. H.
Published: July 2016

Economic theory suggests that demand behavior is time variant, but does not offer much insight into the nature of the temporal variation. For practical purposes, at least two interpretations regarding the time behavior of demand relationships may be advanced.
Impacts of Fuel Costs, Distance-To-Market, and Equipment Utilization on Relative Costs of Trailer-On-Flatcar and Truck Transportation for Fresh Fruits and Vegetables in the South
Authors: Beilock Richard , Stegelin Forrest
Published: July 2016

Throughout the principal fresh fruit and vegetable (FFV) growing areas in southeastern and southwestern states, trucking is the dominant mode for transporting fresh produce to the northeast and upper Midwest. The dramatic shift to trucks in the last 30 years has virtually displaced the railroads from FFV transportation.
The Relationship Between Managerial Heuristics and Economics in Pricing Retail Meats
Authors: Reed Michael R. , Robbins Lynn W.
Published: July 2016

This study develops a theoretical model of the multiproduct firm which allows for imperfect competition in the output market. Hypotheses are tested for retail meat prices concerning the degree and speed of price transmission, the effects of interfirm competition, and the interrelationship between prices within the store. Empirical results indicated that meat prices within a store were highly interrelated. Further, the firm was found to be very responsive to prices of competitors in the short run, but more responsive to wholesale price changes in the long run.
Southern Farms and Rural Communities: Developing Directions for Economic Development Research and Policy
Authors: Henry Mark S.
Published: July 2016

The objective of this paper is to give an overview of research policy issues and conceptual analyses for the South for the following economic development questions:

1. What are the relationships of southern agriculture to rural areas and communities?

2. What trends and adjustments are underway and having an impact on economic development in the region?

3. What directions should economic development research take to analyze and understand the current situation?
The Restructuring of Southern Agriculture: Data Needs for Economic and Policy Research
Authors: Skees Jerry R. , Reed Michael R.
Published: July 2016

In considering farm structure issues and the need for policy and research, we concluded that the right questions were being asked by the profession (Bergland). Rather than generate another list of research and policy priorities, we decided that what is really needed is a discussion of the data used to address these policy and research questions. Therefore, this paper will focus on data needs for economic and policy research.
The Effect of Spatial Variability of Irrigation Applications on Risk-Efficient Strategies
Authors: Bernardo Daniel J.
Published: July 2016

The effect of irrigation system uniformity on the selection of risk-efficient irrigation strategies is evaluated using crop simulation and stochastic dominance procedures. Alternative strategies are evaluated under assumptions of both uniform and non-uniform application. Results indicate that the variability of net returns resulting from the employment of a specified schedule increases when irrigation uniformity is explicitly represented. Solutions derived using economic efficiency and stochastic dominance criteria indicate that the uniformity with which irrigations are applied contributes to the application of water-intensive irrigation schedules.
Travel Cost Methods for Estimating the Recreational Use Benefits of Artificial Marine Habitat
Authors: Milon J. Walter
Published: July 2016

The growing popularity of marine recreational fishing has created considerable interest in artificial marine habitat development to maintain and enhance coastal fishery stocks. This paper provides a comparative evaluation of travel cost methods to estimate recreational use benefits for new habitat site planning. Theoretical concerns about price and quality effects of substitute sites, corner solutions in site choice, and econometric estimation are considered. Results from a case study indicate that benefit estimates are influenced by the way these concerns are addressed, but relatively simple single site models can provide defensible estimates. Practical limitations on data collection and model estimation are also considered.