With area yield crop insurance, indemnification occurs when area yield falls below a yield trigger that is chosen by the producer. The maximum value for this yield trigger is generally restricted (e.g., 80% of the long term area average yield). The impact of this trigger constraint on the...

A model of simultaneous adverse selection and moral hazard in a competitive credit market is developed and used to show that aggregate borrower welfare may be higher in the combined case than in the moral-hazard-only case. Adverse selection can be welfare improving because in the pooling...

1. Introduction -- 2. Prices over space -- 3. Prices over time (storage) -- 4. Prices over time (commodity futures) -- 5. Prices over form (quality) -- 6. Prices linkages across commodity markets -- 7. Marketing margins in vertical supply chains -- 8. Auctions and competitive bidding -- 9....