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The presence of multiple sources of uncertainty complicates hedging decisions. One of these is the output price and its correlation with input prices. The other is how far forward a firm covers its positions. This study analyzes hedging strategies for grain importers as processors. The...
Persistent link: https://www.econbiz.de/10009443960
Feed peas are relatively high in energy and protein and compete with other feed grains and protein crops in the livestock feed market. Prior to 1995, a futures market did not exist for this commodity. To meet industry demand for a hedging and forward pricing mechanism, the Winnipeg Commodity...
Persistent link: https://www.econbiz.de/10009445774
This paper is Selected for presentation at the Southern Agricultural Economics Association Annual Meeting, Atlanta, Georgia, January 31-February 3, 2009. The research is partially funded by ERS/USDA China Project and Social Science Fund of Jiangsu Province in China. The authors are grateful for...
Persistent link: https://www.econbiz.de/10009445795
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Persistent link: https://www.econbiz.de/10009446503
The curvature properties of the indirect utility function imply a set of refutable implications in the form of comparative static results and symmetric relations for the competitive firm operating under uncertainty. These hypotheses, first derived and empirically tested under output price...
Persistent link: https://www.econbiz.de/10009442922
A large body of literature studies the issues of the option price and other ex-antewelfare measures under the microeconomic theory to valuate reductions of risks inherentin environment and human health. However, it does not offer a careful discussion of howto estimate risk reduction values using...
Persistent link: https://www.econbiz.de/10009465211
Entrepreneurship means making discrete changes in livelihood activities that involve substantial risks to income. While the rewards may be substantial, transactions costs may make decisions irreversible. This paper draws a comparison between entrepreneurship and technology adoption. Adopting a...
Persistent link: https://www.econbiz.de/10009479508
Recent and presumable future developments tend to increase the risk associated with farming activities. This causes an increasing importance of risk management. Farmers have a wide variety of possibilities to influence the risk exposure of their operations. Among them are the choice of the...
Persistent link: https://www.econbiz.de/10009483581
Weather constitutes the major source for production risk in agriculture. Weather index can be used construct crop insurance that demand less information and can avoid moral hazard and adverse selection problems. Based on mean-variance model, theoretical results on the optimal insurance coverage...
Persistent link: https://www.econbiz.de/10009483582
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Persistent link: https://www.econbiz.de/10009483590