Consistent aggregation assures that behavioral properties, which apply to disaggregate relationships also, apply to aggregate relationships. The agricultural economics literature is reviewed which has tested for consistent aggregation or measured statistical bias and/or inferential errors due to...

The sensitivity of asset fixity conclusions, input adjustment rates, and elasticities to choice of functional form is examined using a dynamic dual model of U.S. agriculture. A very general initial specification allows tests of instantaneous adjustment to be performed for every input. Test...

Government programs that help agricultural producers manage risk may have environmental consequences. In recent years, premium subsidies for crop insurance have been increased substantially to encourage greater producer participation. Using detailed, producer-level crop insurance contract data...

Transitional yields based on county average can be used by producers as the basis to obtain crop insurance on fields that have not previously produced the crop. Using field-level crop insurance contract data for several crops in five different growing regions we examine the impact of this...

This paper characterizes a set of Nash equilibria in a first-price sealed-bid repeated auction with the right of first refusal using two bidders and asymmetric information regarding the bidders' value distributions. When contract value is constant from one auction to the next and winners' values...

In empirical models like inter-regional input-output models and inter-regional computable general equilibrium models it is essential to know the economic linkage between regions in the form of inter-regional trade and factor flows. This report describes several approaches to estimating...

Contingent wildfire insurance and fuel management cost-sharing programs are becoming more prevalent in western states. This paper develops a model to examine the incentive effects of these two mechanisms for private investment in wildfire risk mitigation. The model shows that contingent...

This paper makes three principal contributions. First, we propose a new estimator for the unobservable variable models with endogenous causes. We show that under factor analysis type of assumptions, Robinson and Ferrara (1977)'’s procedure is not fully efficient, and a more efficient procedure...

In the past twenty years the growth of China's economy and agriculture has been extraordinary. However it seems unlikely that, without substantial interventions, China will attain self-sufficiency in agriculture by 2005. We build a CGE model to examine the main trade policy options available to...