This study suggests that confidence intervals for WASDE forecasts of corn, soybean, and wheat prices may be improved if they are estimated using an empirical approach. Empirical confidence intervals are calculated following Williams and Goodman's (1971) method and use historical forecast errors...

This study relates the demand for quality foods in Hanoi in terms of its nutritional composition, diversity, price, processing stage, source, and extent eaten outside home with urbanization and enhanced incomes. The vast differences in these foods quality parameters across different...

The impact of cross sectional aggregation over individual retail stores on the estimation and testing of vertical price transmission between the wholesale and retail levels is investigated using a unique data set of individual retail prices in Germany. Systematic differences between the results...

In repeated choice modelling studies, it is often the case that individuals always select the status quo option. Although these choices may reflect considered choices, they may also be the result of alternative decisions about whether to participate in the choice process at all. Alternative...

Experimental economics procedures such as laboratory experimental auctions are increasingly being used to measure consumers' willingness-to-pay. A sealed-bid, fourth-price Vickrey-style auction was used to measure consumers' willingness-to-pay for flavor in beef steaks. Two hundred and...

As opposed to a normal market, an inverted market has a negative price of storage or spread. Market inversions in nearby spreads rarely occur during early months of the crop year since stocks are usually abundant after harvest. However, market inversions frequently occur when the spreads are...

Non market valuation and bio economic modelling are combined in a dynamic model of ecosystem services. A mathematical proof demonstrates that the imputed price of natural capital contains all non market values and that scarcity rent is the total value of ecosystem services. A dynamic demand...

The agricultural sector is a central part of the Fiji Islands economy. Policies to alleviate poverty and stimulate economic growth need to be based on a sound understanding of the local agricultural systems involved. This understanding needs to extend to the responsiveness of production to price...

Cooking oil is known as an essential commodity in Indonesia. Having such an important role, the Indonesian government often interfered the cooking oil market to assure its price remain low. To do so, the government uses a subsidy policy as one of its instruments. A dynamic duopoly model is...

Standard models of hedging behavior assume that either hedgers wish to minimize net price variation or they wish to balance variation versus profits. These models treat variation as risk and fail to distinguish between variation that is random and variation that is not random over time. Newer...