Although mass-produced beers still represent the vast majority of U.S. beer sales, there has been a significant growth trend in the craft beer segment. This study analyzes the demand for beer as a differentiated product and estimates own-price, cross-price, and income elasticities for beer by...

This study estimates household demand for finfish in the United States using a limited dependent variable model that accounts for both participation and consumption decisions and also accommodates nonnormal heteroskedastic errors. Results suggest that own-price elasticity is near unitary and...

Bid data from a Vickrey auction for pork chops with embedded environmental attributes were analyzed. It was found that approximately 62% of the participants had a positive WTP for the most "environmentally friendly" package of pork. Thirty percent of the participants had no WTP, and 8% had a...

Information has been proven to have significant impacts on consumers' behavior and willingness to pay (WTP). In this study, information on GM soybean oil is given in the form of real-life cases involving GM food. These cases recorded from actual media reports. Using a hybrid of the...

Economic assessments of pesticide regulations typically focus on producer impacts and generally ignore possible changes in product demand. These changes may be nonnegligible if real and/or perceived product attributes change. We measure consumersÂ’' willingness to pay (WTP) for the...

Ethylene treatments provide an effective method for shortening post-harvest ripening periods for winter Anjou pears and allow market availability throughout the year. However, pear quality may vary under different treatments. A sensory experiment and a consumer survey including questions that...

While considerable research has estimated liquidity costs of futures trading, little comparable research is available about options markets. This study determines effective bid-ask spreads in options and futures markets for Kansas City Board of Trade (KCBT) wheat. Effective bid-ask spreads are...

Price responsiveness of herbicide demand in corn for farmers in Indiana'Â’s White River Basin using cross-section data from individual farms is estimated. Particular attention is paid to appropriate treatment of binding nonnegativity constraints. Estimation was first attempted using an...

This study uses quantile regressions to estimate historical forecast error distributions for WASDE forecasts of corn, soybean, and wheat prices, and then compute confidence limits for the forecasts based on the empirical distributions. Quantile regressions with fit errors expressed as a function...

Stated choice experiments about ecosystem changes involve complex information. This study examines whether the format in which ecosystem information is presented to respondents affects stated choice outcomes. Our analysis develops a utility-maximizing model to describe respondent behavior. The...