The objective of this article is to provide new empirical evidence on landlord-tenant choices of share versus cash-rent contracts in U.S. agriculture. The focus is on the contribution of explanatory variables that represent transaction costs, risk-sharing incentives, or both. An empirical model...

We study the incidence and economic rationale for cooperative bargaining in U.S. agricultural markets. Bargaining is not just about increasing price paid to farmers; indeed, there is no empirical research indicating that cooperative bargaining has any direct influence on price. Nevertheless, the...

We study the incidence and economic rationale for cooperative bargaining in U.S. agricultural markets. Bargaining is not just about increasing price paid to farmers; indeed, there is no empirical research indicating that cooperative bargaining has any direct influence on price. Nevertheless, the...

When the threat of entry by followers includes cooperative firms, the maximum fixed cost that a profit maximizing leader can endure is endogenous. The aggressive strategy required for entry-deterrence curtails the leader’s expected profit and can discourage its initial entry. In such...

We study business organization and coordination of specialty-market hog production using a comparative analysis of two Iowa firms marketing niche pork. We analyze each firm's management of five key organizational challenges: planning and logistics, quality assurance, process verification and...

This article examines motivations underlying the government's choice of alternative policy mechanisms for subsidizing agriculture. Optimal policies are analyzed for three government objectives: one where the government wishes to ensure a minimum level of net income for all farmers, a second...