Recently developed techniques are adapted and combined for the modeling and simulation of crop yields and prices that can be mutually correlated, exhibit heteroskedasticity or autocorrelation, and follow nonnormal probability density functions. The techniques are applied to the modeling and...

This study analyzes the risks of diversified tropical cropping systems that combine cocoa, plantain, and tree-crop components in different proportions versus traditional monocultures. A technique for modeling the expected values, variances, and covariances of correlated time-series variables...

The relative importance of income earning potential versus consumptive values in setting ranchland prices is examined using a truncated hedonic model. The market value of New Mexico ranches is related to annual income earning potential and other ranch characteristics including ranch size,...

The performance of a proposed asymmetric-error GARCH model is evaluated in comparison to the normal-error- and Student-t-GARCH models through three applications involving forecasts of U.S. soybean, sorghum, and wheat prices. The applications illustrate the relative advantages of the proposed...

Using data from the 2000 National Survey on Recreation and the Environment, this study explores factors affecting visits by the American population to farms and the economic value of the rural landscapes for farm visitors. The number of farm recreation trip visits was estimated to have own-price...

Despite the touted potential of e-commerce to improve agriculture profits, the literature on effectiveness of e-commerce is very limited. This paper assesses the economic impact of an electronic trade platform (i.e., MarketMaker) on agricultural producers. Contingent valuation techniques are...

This paper develops a framework for assessing the potential economic impact of a regional promotion campaign combining contingent valuation methods with a partial displacement equilibrium model. The proposed approach is applied to the evaluation of the potential economic impact of the locally...