An expected utility model that includes output price and yield uncertainty was used to estimate cotton, corn, and soybean acreage response equations for the Southeast. The model appeared to fit the soybean and corn data well, resulting in own-price elasticity estimates of 0.317 for corn and...

A recent study of Miljkovic, Marsh, and Brester estimates that reductions in the Japanese tariff-rate quota between 1993 and 2001 increased U.S. beef prices by $1.03 per cwt and yen depreciation between 1995 and 1998 reduced U.S. hog prices by $0.99 per cwt. Relaxing the assumption that U.S....

Federal subsidies for nonprice export promotion of farm products have been criticized on the grounds that they merely substitute taxpayer dollars for private promotional expenditures. This ‘‘displacement hypothesis’’ is tested by estimating export demand and...

The impacts of generic dairy advertising on retail, wholesale, and farm dairy markets are estimated in this study at the national level. The results indicate that generic dairy advertising had a major impact on retail, wholesale, and farm markets for the dairy industry. The main conclusion of...

This article examines whether the assumption of perfect competition in the U.S. dairy industry biases the findings of economic impacts of generic dairy advertising. An imperfect competition model based on an approach similar to that of Appelbaum is developed and used to evaluate generic milk...

Annual seasonal advertising expenditure allocations were estimated for the national generic advertising programs for fluid milk and cheese with the use of price and advertising elasticities of demand that varied over time. Significant variation in optimal allocations existed both across products...

We propose a regime-switching model that allows demand to respond asymmetrically to upward and downward advertising changes. With the introduction of a smooth transition function, the model features smooth rather than abrupt parameter changes between regimes. We apply the model to nonalcoholic...