The US Congress has become concerned with the possibility that much of the recent rise in oil prices is due to speculation or market manipulation. We propose a theory of futures market manipulation that can potentially explain such manipulation and an associated price bubble. Our model involves...

The importance of risk preferences in agricultural production has long been identified as an important and preeminent issue of policy relevance. Recent developments in the study of production risk have called into question much of the core of risk production research. This article provides an...

A price discrimination model is proposed to explain extraneous information provided by internet sales sites for agricultural inputs. Whether an informative site is offered depends on price discrimination potential, which depends on how much farmers reveal heterogeneity by internet behavior....

A price discrimination model is proposed to explain why firms provide extraneous information on Internet sites selling agricultural inputs. Whether an informative site is offered depends on price discrimination potential, which depends on how much farmers reveal heterogeneity by Internet...

The concept of parameter identification (for a given specification) is differentiated from global identification (which specification is right). First-order conditions for production under risk are shown to admit many alternative specification pairs representing risk preferences and either...

A price discrimination model is proposed to explain why firms provide extraneous information on Internet sites selling agricultural inputs. Whether an informative site is offered depends on price discrimination potential, which depends on how much farmers reveal heterogeneity by Internet...

This paper examines different approaches to modelling the aggregation error associated with the representative consumer model. Each approach is based on an analytical framework intended for modelling aggregate time series data on quantities and prices with potential additional measures of income...