bluuebunny/crossref_metadata_2025_split huggingface dataset:
Market Impacts of Technological Change for Sorghum in Indian Near‐Subsistence Agriculture
Authors: Behrman Jere R. , K. N. Murty 
Published: July 2006

AbstractEvaluating market impacts of technological change for near‐subsistence crops like sorghum in semiarid tropical India is complicated because of diversified agricuiture, geographically isolated markets, and therefore feedbacks through prices, and producer‐demander income links for such products. Dynamic simulations with a multicommodity market model suggest that increased sorghum productivity would have spillover effects on other markets, increase the welfare of sorghum consumers, and probably lower the sorghum price. Contrary to speculations of some experts, the output gain probably would be greater than the pure productivity effect despite the price decline because of induced input allocations favoring sorghum production.
Effects of Rising Relative Energy Prices on Soil Erosion and Its Control
Authors: Zinser Lee D. , Miranowski John A. , Shortle James S. , Monson Michael J. 
Published: July 2006

AbstractEfforts to develop public programs to control soil erosion should not ignore other economic trends which may affect soil erosion. This programming analysis considers the impact of rising relative energy prices on cropland erosion in conjunction with alternative erosion control policies. Higher relative energy prices are found to reduce soil erosion significantly, complement soil loss restriction policies, and have an ambiguous impact on subsidies for soil erosion abatement.
Short‐Term Adjustments in Yellow Sheet Carcass Prices for Red Meats
Authors: Marsh John M. , Brester Gary W. 
Published: July 2006

AbstractThe Pascal density function was used to estimate monthly Yellow Sheet carcass prices for beef, pork, and lamb. Yellow Sheet prices have been criticized for lack of economic responsiveness due to small sampling and thin negotiated markets. However, the statistical results show that systematic economic factors explain about 85% of the variation in Yellow Sheet prices, i.e., direct and competitive production, cold storage, disposable income, and seasonality. Though the role of the stochastic error process was relatively small, a continual decline in negotiated transactions could increase its role, raising questions about wholesale market pricing efficiency.
Expected Utility, Debt‐Equity Structure, and Risk Balancing
Authors: Collins Robert A. 
Published: July 2006

AbstractThe potential effects of agricultural policy on the financial structure of farms is often not fully considered. Although it has been recognized that policies that reduce business risk may induce farmers to increase financial risk, the effects of income policies on farm leverage have not been investigated. This paper explores the relationship between farm policy and debt‐equity structure for a risk‐averse expected utility maximizer.
Measuring Producers' Advantage from Classified Pricing of Milk
Authors: Song Dae Hee , Hallberg M. C. 
Published: July 2006

AbstractA method of assessing the degree to which classified pricing of milk has favored milk producers over time is outlined, and results of an application of this method to the 1960–79 period are presented. It is found that prices for the different use classes of milk have, over this period, moved closer to consumer “optimal” prices rather than to producer “optimal” prices. Apparently the regulatory authorities in recent years have recognized less the need for farm income enhancement than the voice of consumer representatives.
Technical Change, Uncertainty, and Investment
Authors: Stefanou Spiro E. 
Published: July 2006

AbstractThe expected investment dynamics of the risk‐neutral firm is examined in the presence of uncertainty in the future evolution of the real wage and the stock of technical knowledge. A model of the adjustment cost firm is developed that is characterized by quasi‐fixed, factor‐augmenting technical change that is taken exogenously by the firm. The effect of wage and technical change uncertainty on investment behavior is assessed using comparative stochastic dynamic analysis.
Agricultural Economists in the Information Age: Awareness, Usage, and Attitudes toward Electronic Bibliographic Databases
Authors: Dahlgran Roger A. 
Published: July 2006

AbstractThe construction, content, and potential use of electronic bibliographic databases is discussed. A survey of AAEA members indicates that both usage and unawareness of these databases are significant; that research and government agricultural economists are disproportionately users of electronic bibliographic databases, while extension and agribusiness agricultural economists are disproportionately nonusers; that such databases average 28.9% useful citations for agricultural economics searches, though this percentage can be raised with help from a professional librarian; and that AAEA members favor having their literature citations in electronic form.
The Distribution of Economic Rents Arising from Subsidized Water When Land Is Leased
Authors: Huffaker Ray G. , Gardner B. Delworth 
Published: July 2006

AbstractA broad distribution of the benefits of federally “underpriced” water may be best promoted by limiting the size of owned acreage and not the sum of owned and leased acreage as required by the Reclamation Reform Act of 1982. Calculated differences between contractual lease payments and associated tenant‐expected economic rents were statistically tested to determine if landowners fully capture the latter. Cash lease markets transferred nearly all economic rents anticipated by tenants to landowners in the study area. Share lease markets do the same if share tenants are assumed to be moderately risk averse.
Valuing Forecast Characteristics in a Dynamic Agricultural Production System
Authors: Mjelde James W. , Sonka Steven T. , Dixon Bruce L. , Lamb Peter J. 
Published: July 2006

AbstractA dynamic programming model of east‐central Illinois corn production is utilized to determine the value of seasonal climate forecasts. Results indicate that the value of climate forecasts is sensitive to economic conditions as well as forecast characteristics. A trade‐off between forecast accuracy and lead time exists. A less accurate forecast received earlier in the production process may be more valuable than a more accurate forecast received later. Additional characteristics evaluated include forecast periods of greatest importance, prior knowledge assumptions, and interactions between forecasting adjacent periods.
Testing Long‐Run Productivity Models for the Canadian and U.S. Agricultural Sectors
Authors: Capalbo Susan M. , Denny Michael G. S. 
Published: July 2006

AbstractThe primary objective of this paper is to develop the linkages between the gross and net productivity indexes and the implied production structures. These linkages are developed as separability restrictions on various subgroups of inputs and time in a general production model. The restricted models are arranged in sequences for nested hypotheses testing. Empirical evidence from the U.S. and Canadian agricultural sectors based on a translog production function support the gross output total factor productivity structure. The net output Hicks neutrality hypothesis is rejected for both the United States and Canada.
Distribution of Research Gains in Multistage Production Systems: Further Results
Authors: Holloway Garth J. 
Published: July 2006

AbstractThe “marketing” sector in Muth's single‐stage model is disaggregated into two sequential stages: “processing” and “distribution.” Comparative statics are used to derive necessary and sufficient conditions for farmers to gain from downstream research. The farm benefits are shown to depend crucially on the stage in “marketing” to which research is directed.
On the Relationship between the Estimates of Level Models and Difference Models
Authors: Maeshiro Asatoshi , Wichers Robert 
Published: July 2006

AbstractThis paper proves that if a linear regression model has a constant term and its disturbances have a positive‐definite variance‐covariance matrix, its slope coefficients have the same generalized least squares estimates as the slope coefficients of the corresponding difference model. It is also illustrated that if the original model is homogenous (i.e., with no constant term) and/or a constant term is inadvertently included in the difference model and/or the ordinary least squares estimator is adopted for the difference model, one can incur a great loss in estimation efficiency.
Further Toward a Theory of Agricultural Insurance
Authors: Nelson Carl H. , Loehman Edna T. 
Published: July 2006

AbstractThe economic theory of contracts is applied to agricultural insurance to show that, given full information, Pareto‐optimal insurance contracts are actuarially fair, provide full coverage, and differ for each individual. The information problems of moral hazard and adverse selection prevent Pareto optimality from being attained. Several “second‐best” solutions to these problems are applied to agricultural insurance. It is shown that information collection and the application of contract design principles are “second‐best” solutions which may achieve the benefits of insurance at less cost than the current practice of public subsidies.
Flexible Exchange Rates and Commodity Price Changes: The Case of Japan
Authors: Jabara Cathy L. , Schwartz Nancy E. 
Published: July 2006

AbstractAlthough agricultural commodities are often assumed to have flexible prices, little has been done to estimate exchange rate pass‐through. Perfect commodity arbitrage opportunities imply complete pass‐through; imperfect opportunities could lead to incomplete pass‐through. Analysis of commodity price and exchange rate adjustments for five commodities exported to Japan by the United States reveals that during the 1970s, commodity prices were generally flexible. During the 1980s, when the dollar was rising, price stickiness on the part of exporters/importers contributed to inflexible prices and asymmetric exchange rate response. Specifically, an exchange rate increase was passed through for some commodities but not a decline.
A Simple Repackaging Model of Recreational Choices
Authors: Wilman Elizabeth A. 
Published: July 2006

AbstractThe traditional travel cost model uses trips (or visits) as its measure of quantity and travel cost per trip (or visit) as its price. However, because many estimated demand curves do not hold visit length constant, they cannot be used to value increments of use. The simple repackaging model of Muellbauer, and Fisher and Shell is used to derive demand curves exhibiting constant visit length from demand curves exhibiting variable visit length. The former allow the marginal quantity valuations that are necessary for management decisions involving capacity or use.
Estimation of von Liebig Response Functions
Authors: Paris Quirino , Knapp Keith 
Published: July 2006

AbstractTwo distinct but related approaches for the estimation of von Liebig response functions are presented. The first approach is based upon a two‐phase, ordinary least squares procedure combined with bootstrapping for computing the standard errors of the estimates. The second approach generates maximum likelihood estimates of the parameters and can be implemented according to two different parameterizations of the model. Application of the procedures to a sample of experimental data suggests a satisfactory degree of conformity of the results. A test of normality of the disturbance term based upon the estimated residuals failed to reject the null hypothesis, further supporting the maximum likelihood approach.
Biological Technology and Agricultural Policy: An Assessment of Azolla in Philippine Rice Production
Authors: Rosegrant Mark W. , Roumasset James A. , Balisacan Arsenio M. 
Published: July 2006

AbstractConcerns about external debt and energy security have motivated several developing countries to develop biological technologies to substitute for petrochemical inputs. This paper examines the economic feasibility of azolla as a source of nitrogen in Philippine rice production. Green manuring with azolla is found not to be cost effective. Substantial savings from intercropping with azolla can be realized only if the cost of nitrogen from azolla is compared with the price of nitrogen from ammonium sulfate, but not if urea is used as the basis of comparison. Farmers would benefit more from liberalization of import controls on urea. Additional research is needed to develop appropriate chemical‐saving systems before investing heavily in extension.
Rationing and Adjustment in the Market for Tenancies: The Behavior of Landowning Households in Thanjavur District
Authors: Bell Clive , Sussangkarn Chalongphob 
Published: July 2006

AbstractA large proportion of peasants cultivate only their own land, even when there are active markets for tenancies as well as labor. However, rationing of tenancies can occur under moral hazard or adverse selection. A model that includes as possible outcomes both rationing and full adjustment through trading is analyzed and estimated using data from South India. On this basis, households can be characterized as rationed or adjusted, and confidence intervals for these assignments can be calculated. While some households achieved full adjustment, a majority were rationed in the tenancy market, many of them completely.
Government Decision Making and Program Performance: The Case of the Conservation Reserve Program
Authors: Reichelderfer Katherine , Boggess William G. 
Published: July 2006

AbstractPerformance of the Conservation Reserve Program (CRP) in meeting the political preferences of its administrators is highly sensitive to the choice of eligibility, bid solicitation, and bid selection criteria used in making program implementation decisions. Decisions made in the first year of CRP implementation led to suboptimal results; net government cost could have been reduced while simultaneously increasing the extent to which erosion and supply control objectives were met. Simulation of the outcomes for a fully enrolled reserve under alternative implementation schemes indicates that future performance can be improved by manipulating key control variables to directly target preferences.
The Effects of Affiliation with Large Bank Holding Companies on Commercial Bank Lending to Agriculture
Authors: Gilbert R. Alton , Belongia Michael T. 
Published: July 2006

AbstractThis article examines whether the agricultural loan ratios of rural subsidiaries of large bank holding companies differ from the ratios of other banks in the same rural counties. In each of the years 1975, 1980, and 1985, the ratio of agricultural loans to total assets is significantly lower for the subsidiaries of large bank holding companies. These results are interpreted as evidence that the subsidiaries of large bank holding companies have greater opportunities to diversify risk by lending to businesses in a variety of industries.
Dynamic Corn Supply Functions: A Model with Explicit Optimization
Authors: Tegene Abebayehu , Huffman Wallace E. , Miranowski John A. 
Published: July 2006

AbstractA model of optimal dynamic agricultural supply is derived and fitted assuming farmers have two annual stochastic crop production activities, a joint limitation on production capacity, interdependencies between past acreage utilization and current productivity, and rational expectations. A five‐equation specification is fitted to annual data, 1948–80. Estimated parameters are consistent with the theory, and the model simulates well. The long‐run price elasticity of corn acreage is 0.2, which is similar to those obtained from ad hoc dynamic models, but our short‐run elasticities are different.
Asymmetric Price Risk: An Econometric Analysis of Aggregate Sow Farrowings, 1973–86
Authors: Tronstad Russell , McNeill Thomas J. 
Published: July 2006

AbstractAggregate sow farrowing response to price risk is estimated where price risk is defined as the difference between expected price at decision time and realized price at acquisition or selling time. Asymmetric (unfavorable deviations) and symmetric (favorable and unfavorable deviations) forms of price risk are estimated utilizing cash and futures prices. Statistical results suggest that an asymmetric form of risk analysis is preferred to a symmetric form, for both cash and futures markets.
Impact of Railroad Contracts on Grain Bids to Farmers
Authors: Hanson Steven D. , Baumel C. Phillip , Schnell Daniel 
Published: July 2006

AbstractThe deregulation of railroads by the Staggers Rail Act of 1980 reversed nearly a century of prohibition of contracts between railroads shippers/receivers. This paper presents an analysis of the impact that railroad contracts have on grain bids to corn, wheat, and soybean farmers. The empirical results indicate that destination contracts had significant impacts on prices bid to corn and soybean farmers, while origin contracts had significant and large impacts on prices bid to wheat farmers.
Effectiveness of Fluid Milk Advertising Since the Dairy and Tobacco Adjustment Act of 1983
Authors: Ward Ronald W. , Dixon Bruce L. 
Published: July 2006

AbstractAn econometric model pooling monthly cross‐sectional and time‐series data is estimated to measure the impact of national and regional generic fluid milk advertising. The estimated model shows that the effectiveness of advertising has increased since the implementation of the Dairy Adjustment Act. Gains in fluid milk sales attributed to milk advertising are estimated. Sales gains for both the pre‐ and post‐act periods are shown along with the gains associated with parameter changes in the post‐act periods. Marginal advertising responses are derived.
Economic Optimization of a Growth Trajectory for Broilers
Authors: Talpaz Hovav , Hurwitz Shmuel , de la Torre Jose R. , Sharpe Peter J. H. 
Published: July 2006

AbstractA dynamic model was constructed to select the economically optimal growth trajectory of broilers and compute the feeding schedule designed to satisfy the nutritional requirements along this trajectory. Alterations in the normal growth rates are possible by utilization of the phenomenon of compensatory growth which follows a period of feed restriction. The optimal trajectory is solved for by a reduced‐gradient nonlinear programming algorithm. The model calculates the daily optimal growth rates along with the corresponding requirements of total protein, amino acids, and energy in obtaining the optimal diets. A substantial increase in profits can be achieved by following this methodology.
Objective Function Approximation: An Application to Spatial Price Equilibrium Models
Authors: Güder Faruk , Morris James G. 
Published: July 2006

AbstractThis paper describes a method for selecting a grid size for the piece wise‐linear approximation of a separable quadratic program. It describes and demonstrates application of the procedure to a spatial price equilibrium model. The method is based on an a priori bound relating the amount of objective function approximation error to the suboptimality induced in the solution of the actual optimization problem.
Substitutability for Farm Commodities: The Demand for U.S. Tobacco in Cigarette Manufacturing
Authors: Sumner Daniel A. , Alston Julian M. 
Published: July 2006

AbstractA generalized leontief cost function and system of factor demand functions for the domestic cigarette industry is estimated. We strongly rejected fixed proportions. Both imported tobacco and other inputs are substitutes for U.S. tobacco. The estimated (output constant) price elasticities are combined with the output effect (calculated from cost shares and time‐series estimates of the cigarette demand elasticity) and an export demand elasticity (from previous studies) to consider the effects of reducing the U.S. price support. Competition from foreign tobacco implies that a U.S. price decline would increase significantly the quantity of U.S. tobacco demanded.
An Analogy between Risk Aversion and Homothetic Production under Certainty
Authors: Pope Rulon D. 
Published: July 2006

AbstractA key component in arguments about aggregation is the curvature of micro‐decision functions. For example, a mean‐preserving spread in the distribution of some parameter across economic agents will decrease aggregate response when each identical microfunction is concave in the parameter. Using this motivation, with the parameter being output price, curvature of derived demands and supplies is examined. Calculations analogous to the Arrow‐Pratt absolute risk aversion measure and its slope are crucial in determining these results in many cases. This allows one to use known results in risk theory to simply characterize curvature.
A Policy Analysis of China's Wheat Economy
Authors: Halbrendt Catherine , Gempesaw Conrado 
Published: July 2006

AbstractThis paper examines the impacts of China's historical and anticipated future reforms on its domestic wheat economy and how it affects the import demand for wheat using a stochastic coefficient regression method. The results strongly support the hypothesis that producers and consumers in the post‐reform era were responsive to a less controlled economy. Furthermore, the higher import forecasts indicate that China will interact more with the world wheat market.
Argentine Agricultural Policy in a Multiple‐Input, Multiple‐Output Framework
Authors: Fulginiti Lilyan E. , Perrin Richard K. 
Published: July 2006

AbstractThis study shows that government interventions in Argentine agriculture substantially reduced the growth rate of output 1940–80. A multiple product, multiple input, aggregate translog profit function is estimated. Supply elasticity estimates range from zero for linseed to 1.6 for sorghum. Estimates of intervention wedges together with the estimated structure imply that export taxes, import restrictions, and domestic taxes each in isolation could have reduced aggregate output by as much as 25%–30%. These and other interventions increased beef as a share of outputs and increased the cost shares of purchased inputs and labor at the expense of capital inputs.
A Prospective Assessment of the Impacts of Bovine Somatotropin: A Case Study of Wisconsin
Authors: Marion Bruce W. , Wills Robert L. 
Published: July 2006

AbstractThe predicted effects of bST on aggregate supply, milk price, and farm structure is extremely sensitive to several key assumptions: the impact of bST on production per cow, cost of bST to farmers, returns required by farmers to adopt bST, price of milk when bST is introduced, speed and extent of adoption. A case study of Wisconsin dairy farms indicates that the overall economic impact of bST will be much less than most other studies have predicted. The projected effects, however, are similar to Cochrane's treadmill theory, albeit less severe than predicted by earlier estimates.
The Decision to Double Crop: An Application of Expected Utility Theory Using Stein's Theorem
Authors: Marra Michele C. , Carlson Gerald A. 
Published: July 2006

AbstractA nonlinear, single‐equation acreage allocation model derived from expected utility theory using Stein's theorem for covariance decomposition is developed. This decomposition allows the covariance of utility parameters and revenues to be expressed in terms of measurable variables. The model is applied to state‐level data to estimate the relative importance of various economic factors in determining the pattern of double cropping wheat and soybeans in the southeastern United States. The hypothesis that the riskiness of returns is important in the aggregate is rejected for some of the states, although the constrained expected utility model without the effect of risk performs better than a standard wheat acreage response model.