bluuebunny/crossref_metadata_2025_split huggingface dataset:
Optimal Replacement Policies for Rejuvenated Assets
Authors: McClelland John W. , Wetzstein Micheal E. , Noles Richard K. 
Published: July 2006

AbstractThe Faustmann‐Samuelson solution for optimal asset rotation is extended to consider both asset rejuvenation and nonconstant prices. A dynamic theoretical model is developed in terms of an optimal control problem with discontinuous control variables, and numerical solution procedures are outlined. The model is applied to layer hen replacement where hen rejuvenation by forced molting is a common industrial practice. Results indicate a sensitivity between the decision to rejuvenate or replace a hen and the egg price cycle, suggesting a mixed rotation strategy.
Selection and Recreation Demand
Authors: Smith V. Kerry 
Published: July 2006

AbstractThis article compares five methods for estimating travel cost recreation demand models with microdata. The models are distinguished by their treatment of selection effects that arise with on‐site surveys. The comparison considers adjusting for selection effects in a variety of ways, including single and double selection rule models. Both parameter and consumer surplus estimates were evaluated. The findings indicate that the treatment of selection effects alone was not important for this case. However, the choice of an estimator did lead to large variations in per trip consumer surplus estimates.
Optimal Timing of Harvest for the North Carolina Bay Scallop Fishery
Authors: Kellogg Robert L. , Easley J. E. , Johnson Thomas 
Published: July 2006

AbstractSubstantial improvement is possible in economic returns for the North Carolina bay scallop fishery by delaying the opening of the season beyond its traditional date. A general bioeconomic harvesting model was developed for use in determining the optimal season opening/closing schedule for a seasonal fishery with the control specified as an on/off switch. One hundred and twenty separate scenarios were created by setting five exogenous variables to reasonable alternative values. The optimal season is contrasted with the unregulated case for each scenario. The optimal opening was typically two to three weeks later than the model of past practices.
Vote Trading on Farm Legislation in the U.S. House
Authors: Abler David G. 
Published: July 2006

AbstractSeveral farm groups do not command enough votes in the U.S. House of Representatives to pass their programs without the help of others. This study investigates the extent of vote trading by these groups. Both vote trading among these groups and between them and representatives of the poor are examined. Farm legislation from 1985–86 is studied. The results show an active coalition among tobacco, sugar, peanut, and dairy farmers, as well as the poor. Wheat, rice, and cotton farmers are much less active in the coalition, while feed grain farmers are not in it at all.
Hedging Under Output Price Randomness
Authors: Meyer Jack , Robison Lindon J. 
Published: July 2006

AbstractAn expected utility analysis of a frequently studied hedging model is carried out using mean‐standard deviation modeling techniques. This is possible because the hedging model satisfies a location and scale condition. As a result, one can simplify the proofs of, and provide more intuition for, results concerning hedging developed using only expected utility techniques.
Approximating Linear Programs with Summary Functions: Pseudodata with an Infinite Sample
Authors: Preckel Paul V. , Hertel Thomas W. 
Published: July 2006

AbstractA new algorithm for summarizing linear program models that takes advantage of the nature of linear program responses is presented. This method is equivalent to the pseudodata method based on an infinite sample. The power of the new method lies in the fact that the sampling procedure is sequential; the location of the next sample point is determined by observations at previous sample points. An illustration is provided, and the proposed method is compared with pseudodata based on out‐of‐sample predictions. The comparison indicates the new method is a distinct improvement.
Farm Labor Legislation: A Computer Program to Assist Growers
Authors: Alwang Jeffrey , Wooddall‐Gainey David , Johnson Thomas G. 
Published: July 2006

AbstractLabor recruitment and management is critical to agricultural production. Dependence on hired labor is growing, even in states and regions where farm labor needs were traditionally met by family members. Employment in agriculture is governed by a large number of complex federal and state regulations. A computerized information system designed to facilitate compliance with these regulations is described. A user survey shows that the system is widely and effectively used.
Public Regulation of Agricultural Biotechnology Field Tests: Economic Implications of Alternative Approaches
Authors: Larson Bruce A. , Knudson Mary K. 
Published: July 2006

AbstractFederal oversight of agricultural biotechnology field testing is based on public concerns that unknown consequences could arise from such tests, and that firms may not adequately consider the public consequences of their research and development activities. In this paper, four general types of ex ante and ex post approaches to manage public risks from field testing are explored. The analysis shows that the approaches are least effective at facilitating the research process yet controlling public risks when the research firm is small in size and potential damages exceed the value of the firm.
The Market for Land and the Impact of Farm Programs on Farm Numbers
Authors: Leathers Howard D. 
Published: July 2006

AbstractIf a land price is to be observed, there must be trades of land. If the aggregate quantity of land in agriculture is fixed, those trades must be among farmers. This paper presents a model in which farmers of differing “ability” trade land among themselves. The model is used to evaluate the impact of farm programs (a demand enhancement program; a price support program; a land retirement program; an income subsidy program) on output price, land price, and number of farmers. Effects of these programs depend on conditions that require empirical evaluation. Preliminary evidence suggests that some standard tools of farm policy have the effect of reducing farm numbers.
Economic Rents Under Supply Controls with Marketable Quota
Authors: Babcock Bruce A. , Foster William E. 
Published: July 2006

AbstractWe analyze the distribution of economic rent between owners and renters of marketable production quotas and examine how this distribution changes with increases in marginal costs. While quota owners unambiguously lose because of a marginal cost increase, quota renters may gain, depending on whether the marginal cost shift is divergent, parallel, or convergent. Using output and input prices, county production quotas, and quota rental rate data, we estimate a marginal cost function for North Carolina flue‐cured tobacco to demonstrate how wage increases affect owners' and renters' welfare.
Regulation in the U.S. Rice Industry, 1965–89
Authors: Cramer Gail L. , Wailes Eric J. , Gardner Bruce , Lin William 
Published: July 2006

AbstractA partial equilibrium framework is used to estimate the deadweight loss arising from government intervention in the U.S. rice market in order to protect domestic producers. The efficiency of the rice program is compared to other grain programs. Deadweight losses relative to taxpayer and consumer costs from rice programs in recent years were only slightly higher compared to the same measure associated with major commodity programs. The primary source of deadweight losses in rice programs result from set‐asides. The potential savings from completely decoupling the rice program are estimated to reach $‐387 million for 1987.
Ex Post Flexibility and Choice of Capacity for Loss Reduction
Authors: Hiebert L. Dean 
Published: July 2006

AbstractThis paper examines the implications of ex post utilization flexibility for the firm's ex ante choice of capacity to supply a loss‐reducing input. It is shown that the optimal ex ante choice is greater in the presence of flexibility than in the absence of flexibility. It is also shown that the total effect of an increase in risk on the ex ante choice includes a flexibility effect when ex post flexibility is present. The flexibility effect always tends to increase the demand for capacity.
Supply Impact of the Milk Diversion and Dairy Termination Programs
Authors: Dixon Bruce L. , Berry Calvin R. , Susanto Dwi 
Published: July 2006

AbstractA two‐equation random coefficient regression model of commercial milk production is estimated using monthly observations from 1983 through June 1988 for the twenty‐one major milk‐producing states in the United States. Policy variables are entered into the model to represent the impact of the Milk Diversion Program (MDP) and the Dairy Termination Program (DTP). The MDP was primarily short term in impact and the DTP has been longer term. The DTP provision banning producers who exited under the program from producing for five years appears to have been ineffectual. The programs' effectiveness across states has varied considerably.
Determinants of Agricultural Economics Faculty Retirement
Authors: Broder Josef M. , White Fred C. , Taylor Teresa D. 
Published: July 2006

AbstractThe retirement experiences of faculty who had retired from 1862 land grant universities are described. Health, financial, family, and professional characteristics of early retirees are contrasted to those of late retirees. Determinants of faculty retirement are identified in the context of a general retirement model. Model results indicate that years‐of‐service to retirement programs, number of children, mental health, health trends, age at initial employment, and faculty‐spouse age differences are positively related to retirement age. Salary levels, net worth, and extension appointments are inversely related to retirement age. Implications of recent changes in the agricultural economics profession on expected retirement behavior are discussed.
Perennial Crop Supply Response: A Kalman Filter Approach
Authors: Knapp Keith C. , Konyar Kazim 
Published: July 2006

AbstractA state‐space model for perennial crop supply response is developed. New plantings and removals depend on the existing age structure of the crop and expected values for future prices and other exogenous variables. Acreage in individual age categories evolves depending upon existing acreage, new plantings, and removals. The Kalman filter and an iterative parameter search provide maximum‐likelihood estimates of the unknown parameters and age group acreages from observed data on total acreage and production. An empirical application for alfalfa shows that existing acreage has differential impacts on new plantings and removals depending upon age.
Simultaneity and Structural Change in U.S. Meat Demand
Authors: Eales James S. , Unnevehr Laurian J. 
Published: July 2006

AbstractAn inverse of the Almost Ideal Demand System, the IAIDS, is developed in order to test the endogeneity of prices and quantities in the U.S. meat demand system. The IAIDS has all the desirable theoretical properties of the AIDS except aggregation from the micro to the market level. Using annual data, both prices and quantities appear to be endogenous within the entire meat market. Including livestock production costs and technical change indicators as instruments eliminates evidence of a mid 1970s demand change.
A Test of the Equality of Closed‐Ended and Open‐Ended Contingent Valuations
Authors: Kealy Mary Jo , Turner Robert W. 
Published: July 2006

AbstractA test is developed to find whether open‐ended and closed‐ended contingent valuation mechanisms lead to significantly different results. The test is based on joint estimation of willingness to pay responses to open‐ and closed‐ended questions asked of the same sample of individuals. In a public good example, individuals do respond differently depending on question format. Possible explanations include different incentives for strategic behavior and respondents' lack of familiarity with the open‐ended question type. No differences in willingness to pay were found in a private good example.
Qualitative Forecast Evaluation: A Comparison of Two Performance Measures
Authors: McIntosh Christopher S. , Dorfman Jeffrey H. 
Published: July 2006

AbstractAgricultural producers and marketers often have access to several sets of forecasts on the same series. Decision makers must be able to evaluate the relative accuracy of the forecasts. The ability to evaluate whether a series will move up or down is important for series related to futures, options, other asset prices, and situations where processes can be modified according to changing economic conditions. A measure of qualitative forecast accuracy from Naik and Leuthold is compared to a probability‐based measure developed by Henriksson and Merton. The Henriksson‐Merton measure is shown to provide additional, and more accurate, information concerning a model's qualitative forecasting ability.
Designing Expert Systems for Effective Delivery of Extension Programming
Authors: Gum Russell L. , Blank Steven C. 
Published: July 2006

AbstractExpert systems offer potential as important additions to the current methods used to deliver extension programming to clients. This paper discusses the design of such systems from the viewpoint of learning theory and assesses the cost effectiveness, relative to standard extension programming approaches, of a sample system developed for use with/by cattle ranchers. Results indicate that hybrid expert systems have greater educational impact than traditional programming methods and are more cost effective.
A Game‐Theoretic Model of Endogenous Public Policies
Authors: Beghin John C. 
Published: July 2006

AbstractPublic policies are the equilibrium outcome of a cooperative game among interest groups and the policy maker. This study stresses the interdependence between policies and players' bargaining strengths and derives their comparative statics with respect to a changing economic environment. It also provides a specification of behavioral equations consistent with the underlying bargaining process. An analysis of the political economy of food and agricultural price policies in Senegal illustrates the proposed framework.
Beef and Pork Packing Costs and Input Demands: Effects of Unionization and Technology
Authors: Melton Bryan E. , Huffman Wallace E. 
Published: July 2006

AbstractThe effects of unionization, technology, and structural considerations on value‐added beef and pork packing costs and the demand for labor, capital, packaging, and other inputs are analyzed by econometric methods for the period 1963–88. Although unions do not appear to have had significant wage effects over this period (relative to broader U.S. wage rates), significant nonwage cost effects are observed. These nonwage effects help explain the technological, structural, and geographic changes that have occurred in meat packing in recent years which, in turn, help explain the erosion of union strength in meat packing observed over the study period.
Farmers' Welfare and Changing Food Prices: Nonparametric Evidence from Rice in Madagascar
Authors: Barrett Christopher B. , Dorosh Paul A. 
Published: July 2006

AbstractThis paper uses nonparametric density estimation and kernel smoothing techniques to examine the instantaneous distributional implications of rice price changes in Madagascar. While many farmers do not participate in product markets as either buyers or sellers, and net sales or marketable surplus are fairly small for many others, the roughly one‐third of rice farmers who fall below the poverty line face significant negative first‐order welfare effects from increases in the mean or variance of rice prices. Conversely, the first‐order gains from rice price increases are highly concentrated among the largest rice farmers and particular regions in Madagascar.
National and International Wheat Improvement Research in the Post‐Green Revolution Period: Evolution and Impacts
Authors: Byerlee Derek , Traxler Greg 
Published: July 2006

AbstractThe role of IARC‐generated technology in the global system of spring wheat improvement is examined for the period, 1977–90. Nine of the thirty–eight developing countries that produce spring wheat demonstrate the capacity to develop varieties from their own crosses; the other countries focus on screening CIMMYT germplasm for direct release. Over 40% of spring wheat area is sown to “direct transfer” CIMMYT varieties, indicating that CIMMYT research remains an important complement to NARS research. An ex post rate of return above 50% is estimated for wheat research investments in developing countries, with the highest returns occurring in the South Asia region and in irrigated and high‐rainfall environments. Future returns above 35% are projected.
Impact of Modern Rice Technology on Land Prices: The Case of Lampung in Indonesia
Authors: Jatileksono Tumari , Otsuka Keijiro 
Published: July 2006

AbstractIn the green revolution literature, no systematic evaluation has been made of the impact of the adoption of modern rice varieties (MVs) on the returns to land. The literature has also ignored the impact of improved MVs over earlier MVs on productivity and factor prices. Based on farmers' recall data of land transactions in Lampung, Indonesia, we find that the adoption of a series of improved MVs increased land prices by increasing land productivity. This finding shows that the green revolution has been sustained by continuous efforts to develop and disseminate improved MVs.
Joint Estimation of Risk Preference Structure and Technology Using Expo‐Power Utility
Authors: Saha Atanu , Shumway C. Richard , Talpaz Hovav 
Published: July 2006

AbstractA method is developed to permit joint estimation of risk preference structure, degree of risk aversion, and production technology. The method is implemented using the Expo‐Power utility function, which imposes no restrictions on risk preference structure. The empirical application uses data from a sample of Kansas wheat farmers. Evidence rejects the null hypothesis of risk neutrality and suggests that Kansas farmers exhibit decreasing absolute risk aversion and increasing relative risk aversion. Results also show that combined estimation of production function parameters with the utility function parameter is more efficient than is separate estimation of each.
Optimal Timing of Farm Transferal From Parent to Child
Authors: Kimhi Ayal 
Published: July 2006

AbstractWhen farm income is first increasing and then decreasing in the operator's age, the timing of farm transferal from parent to child is optimally determined by families who seek to maximize joint income or utility. Using a sample of Israeli farms in which the operation of the farm changed from parent to child between 1971 and 1981, equations of transfer time and child's education are derived. A simultaneous equation, censored regression model is estimated using a two‐stage method. Results support the theoretical predictions that transfer time is decreasing with parent's age and with child's schooling, and increasing with parent's experience.
What Are the AAEA Meetings Worth?
Authors: Broder Josef M. , Bergstrom John C. , Kriesel Warren 
Published: July 2006

AbstractAttendee valuations of AAEA meetings are estimated using the Professional Activities Committee survey of the 1990 Vancouver meetings. Meeting participation, direct expenditures, and willingness‐to‐pay (WTP) are presented. WTP is described in a utility maximization framework and estimated by censored regression. Respondents spent an average $@@‐@@1,022 attending the meetings and were willing to pay an additional $@@‐@@399. Meeting benefits increased with duration and frequency of attendance. Members of the Association of Environmental and Resource Economists benefited more than did nonmembers. Respondents with service appointments, associate professors, and Canadian Agricultural Economics and Farm Management Society members benefited less than did their respective counterparts.
Rural Chinese Food Consumption: The Case of Guangdong
Authors: Halbrendt Catherine , Gempesaw Conrado , Dolk‐Etz Dimphna , Tuan Francis 
Published: July 2006

AbstractChinese consumer behavior is analyzed based on rural Guangdong household survey data. For most food items, own‐price elasticities estimated with an AIDS model are inelastic. Commodity substitution due to relative price changes is small, except in the case of grain. Commodities most responsive to expenditure changes are meats, poultry, fruits, sweets, and durable goods.
Economic and Environmental Impacts of Limiting Nitrogen Use to Protect Water Quality: A Stochastic Regional Analysis
Authors: Mapp H.P. , Bernardo D.J. , Sabbagh G.J. , Geleta S. , Watkins K.B. 
Published: July 2006

AbstractPotential economic and environmental effects of broad versus targeted nitrogen use policies are evaluated in five Central High Plains subregions. Results indicate that per‐acre restrictions are more effective than total nitrogen restrictions in reducing expected nitrogen losses in runoff and percolation, and reducing percolation losses at all probability levels. Because of the distribution of soils within subregions, targeting nitrogen reductions to more permeable soils may not produce the anticipated reductions in percolation. It may be more effective to target nitrogen restrictions on production systems than on soil types. Reductions in producer income are less for targeted than for broad policies.
Optimal Dynamic Hedging in Unbiased Futures Markets
Authors: Myers Robert J. , Hanson Steven D. 
Published: July 2006

AbstractA discrete‐time dynamic hedging problem is solved under expected utility maximization and basis risk without imposing a particular parametric form for utility, nor assuming normally distributed cash and futures prices. The solution is valid for any increasing and strictly concave utility function, and for quite general specifications of the joint distribution of cash and futures prices. This generality is achieved by restricting the futures market to be unbiased, and requiring that the size of the cash position be nonstochastic. The dynamic hedging rule can be estimated empirically using similar methods to those used to estimate static hedge ratios.
Agrarian Structure and Agricultural Practice: Typology and Application to Western Sudan
Authors: Kevane Michael 
Published: July 2006

AbstractA typology of models that explain patterns of variation in farm endowments and farm practices and yields shows that insecurity in renting land, financing constraints, and the absence of insurance generate patterns of factor use quite different from the famous “inverse relationship” caused by labor supervision problems. One might expect to observe positive relationships between wealth and yields. Village‐level data from western Sudan confirm that such positive relationships are not a theoretical curiosity. Wealthy farmers have higher levels of output per hectare because they use more labor per hectare. Insurance and financing constraints appear to be the crucial market failures.
Wheat Storage and Trade in an Efficient Global Market
Authors: Makki Shiva S. , Tweeten Luther G. , Miranda Mario J. 
Published: July 2006

AbstractDomestic and international linkages in speculative stockholdings and trade of wheat are analyzed using a dynamic rational expectations model of the world wheat market dominated by the U.S. and the EU. The results demonstrate the importance of endogenizing both storage and trade in studying commodity markets and suggest that past government stockholdings have not followed efficient market outcomes. Results indicate that elimination of the Export Enhancement Program by the U.S. and of export restitution payments by the EU are unlikely to have a major impact on wheat exports from the two regions but will save millions of tax dollars in both regions.