Governments are under increasing pressure to deliver results. Therefore, it is important to evaluate the effectiveness, efficiency and relevance of the public service in implementing policies and programmes for social betterment. Without such evaluations, it is difficult to ensure that evidence...

The pig-cycle 'explanation' expunded by Coase and Fowler followed a well-integrated economic logic and provides tremendous insight into our understanding of commodity cycles. The paper presents a simulation model that replicates all of Coase and Fowler's results and tests its robustness with an...

This paper investigates the dynamics of sequential decision-making in agricultural futures and options markets using a quantile regression framework. Analysis of trading records of 12 traders suggests that there is great heterogeneity in individual trading behavior. Traders respond differently...

This paper investigates whether the accuracy of outlook hog price forecasts can be improved using composite forecasts in an out-of-sample context. Price forecasts from four wellrecognized outlook programs are combined with futures-based forecasts, ARIMA, and unrestricted Vector Autoregressive...

The paper examines empirical returns from holding thirty- and ninety-day call and put positions, and the forecasting performance of implied volatility in the live and feeder cattle options markets. In both markets, implied volatility is an upwardly biased and inefficient predictor of realized...

We examine the role that habit plays when producers determine their hedge ratio. Data were collected from U.S. cotton growers in which they indicated their hedging position in 2001 and 2002 as well as their perceived profitability, land ownership structure, and income. To account for...

Variable eating quality was identified as a major contributor to declining Australian beef consumption in the early 1990s. The primary issue was the inability to predict the eating quality of cooked beef before consumption. A R&D program funded by industry and Meat and Livestock Australia...

Given the increasing concentration in numerous markets recent interest in market structure and performance has grown dramatically. The empirical research revolves around theories of industrial organization and non-cooperative game theory. Research in this area uses participant strategic action...