Auction sellers can use a reserve price to require a minimum bid before items are sold. Theoretical and experimental research has tested the influence of a reserve price in an independent private values auction, but little focus has been given to the influence of a reserve price in a first-price...

Annually, cow-calf producers face the decision of whether to sell their calves at weaning or to retain ownership of them. This study determines how animal characteristics, carcass quality, and a supplemental prepartum feeding program for cows impacts returns to retaining ownership of calves...

Water utilities typically set residential water prices using one of three rate structures: increasing block rate (IBR), uniform rate (UR), or decreasing block rate (DBR). Historically, DBR has been the most widely used residential rate structure, but water utilities are increasingly switching to...

This article develops a measure of efficiency to use with aggregated data. Unlike the most commonly used efficiency measures, our estimator adjusts for the heteroskedasticity created by aggregation. Our estimator is compared to estimators currently used to measure school efficiency. Theoretical...

The effect of aggregation on estimates of stochastic frontier functions is considered. Inefficiency is assumed associated with the individual units being aggregated. In this case, the aggregated data have a closed skew normal distribution. Estimating the parameters of a closed skew normal...

This study instructs an artificial price competition market to examine the impact of capacity constraints on the behavior of packers. Results show when there are cattle left for the lowest bidder after all other packers finishing their procurement, the capacity constraints make the price lower...