We examined prospect theory and reference point adaptation following gains or losses using participants from China, Korea, and the US. Supporting prospect theory, we found in Studies 1 and 2 that subjects from all three countries generally exhibited loss aversion and a greater propensity for...

According to prospect theory (Kahneman & Tversky, 1979), gains and losses are measured from current wealth, which serves as a reference point. We attempted to ascertain to what extent the reference point shifts following gains or losses. In questionnaire studies we asked subjects what stock...

We examined reference point adaptation following gains or losses in security trading using participants from China, Korea, and the US. In both questionnaire studies and trading experiments with real money incentives, reference point adaptation was larger for Asians than for Americans. Subjects...

The effectiveness of the Class III Milk futures market is analyzed in terms of the reduction in Value-at-Risk (VaR) for milk producers located in four regions: Wisconsin, Northeast, Florida and California. Constant hedge ratios are estimated using Myers and Thompson's (1989) generalized...

Coffee and cocoa are two agricultural commodities produced mainly in developing countries and exported almost entirely to high income industrialized countries. The international market for these products is marked by high price instability. This paper investigates whether monetary policy...

Rice sector contributes significantly to secure households with regard to their food needs but also to the creation of employments and income generation. The sector development and its evolution over the years have been marked by various policies and approaches. These development stages of the...

This paper investigates the potential of and constraints to a rice Green Revolution in Sub-Saharan Africa's large-scale irrigation schemes, using data from Uganda, Mozambique, Burkina Faso, Mali, Niger, and Senegal. The authors find that adequate irrigation, chemical fertilizer, and labor inputs...

This paper investigates the potential of and constraints to a rice Green Revolution in Sub-Saharan Africa's large-scale irrigation schemes, using data from Uganda, Mozambique, Burkina Faso, Mali, Niger, and Senegal. The authors find that adequate irrigation, chemical fertilizer, and labor inputs...

This paper investigates the potential of and constraints to a rice Green Revolution in Sub-Saharan Africa's large-scale irrigation schemes, using data from Uganda, Mozambique, Burkina Faso, Mali, Niger, and Senegal. The authors find that adequate irrigation, chemical fertilizer, and labor inputs...