This study determines the relative effects of price, cattle quality, and feeding performance factors on profit per head for fed cattle marketed via a grid structure. Two different data sets of cattle that were marketed in two different grid pricing systems are used in the analysis with...

This study employs correlation relationships to measure the strength of trade-offs between business and financial risks as a representative of the strategic capital adjustment process. Under different business risk measures based on varying lengths of historical farm income data, results suggest...

The present article discusses general issues associated with experimental auctions and their relative advantages and disadvantages over other marketing research techniques. Experimental auctions create an active market environment with feedback where subjects exchange real goods and real money,...

The roots and uses of economic experiments in problem solving and hypothesis testing are explored in the present article. The literature suggests that the primary advantage of economics experiments is the ability to use controlled stimuli to test economic hypotheses. Other literature also...

This paper develops and illustrates the application of a procedure to evaluate and compare the cost effectiveness of alternative crop insurance products for cotton in terms of their effect on expected producer net returns and the variation of net returns. Farm unit-level cotton yields and...

This study investigated the cost structure of the floriculture industry in the United States. Economies of scale and input elasticities were estimated with a normalized quadratic cost function. Results suggest that economies of scale exist in the floriculture industry. As producers become large...

Investing in a new perennial crop variety involves an irreversible commitment of capital and generates an uncertain return stream. As a result, the decision to adopt a new variety includes a significant real option value. Waiting for returns to rise above this real option causes a delay in...

In 1991, the Intermodal Surface Transportation Efficiency Act (ISTEA) changed the federal-state transportation relationship by devolving decision making to the states. In turn, states were required to work with local officials on transportation improvements. ISTEA was authorized for 1992-1997,...

Falsification of nontrivial empirical statements, of a statistical nature or not, is basically destructive. No wonder that it is rarely practiced. Rather than then abandoning a rejected null hypothesis, one tries to salvage it by looking for reasons why the rejection of an otherwise credible,...

A dynamic-stochastic model is developed to evaluate preferences among alternative countercyclical payment programs for representative farms producing corn or soybeans in Iowa and cotton or soybeans in Mississippi. Countercyclical payment programs are found to not necessarily be preferred to...