A two-step model with sample selection is applied to panel data of U.S. households to estimate at-home demand for fluid milk and cheese, incorporating advertising expenditures. The model consistently accounts for sample-selection bias, unobserved household heterogeneity, and temporal...

To reconcile the discrepancy between the efficient market hypothesis and grain marketing recommendations by advisory services and extension programs, simulated prices from an efficient market are used to compare performance of marketing practices over the long run and in individual 40-year...