Measurement of economies of scale and scope is particularly important for predicting growth and product diversification. However, estimates are useful only to the extent the underlying production technology is modelled accurately. This study measures economies of scale and scope in the rapidly...

We examine the impact of marketing contracts on farm cost structure and implied scale and scope economies for large samples of dairy, corn and wheat farms. We consider a multi-product, multi-market technology to examine returns from diversifying marketing schemes. Allowing for risk preferences...

Enterprise diversification has recently become a prominent feature of US dairy farms. Scope economies and risk aversion are two forces that simultaneously determine diversification. We jointly estimate scope economies and determine risk preferences under price uncertainty. We reject risk...

Why does the firm look the way it does? Why does it have the structures it has? In particular, what is the function of the board of directors? Many papers have tried, and failed, to link the board's structure to the performance of the firm. Might the board have an alternative rationale for...

Do direct payments alter operators' acreage decisions? The authors use an event study with individual-level data in a panel-data setting to examine how an exogenous change in direct payments affects individual farmers' production decisions. They track changes in acreage across time and examine...

Expected effects from partially lifting tariff barriers on the Mexican agricultural sector are investigated using a restricted profit function (RPF) approach. Short-run and intermediate-run effects of the implementation of GATT minimum tariff provisions on Mexican agricultural trade are...