A stochastic computer simulation model is used to estimate disaster payments under the Agriculture and Consumer Protection Act of 1973. The model uses a random yield generator and actuarial techniques. Simulated payments under 1976 program parameters and stochastic yields are estimated at $300...

Five factors are found to have had a significant effect on U.S. acreage of wheat planted during 1961-74: (1) acreage allotment, (2) additional diversion for payment through 1970, (3) set-aside acres in 1971-73, (4) relaxation of allotment restrictions, and (5) the market price of wheat for the...

We examine market efficiency before and after the 1987 Market Crash using the box spread strategy implemented with European-style S&P 500 Index (SPX) options. Before the Crash, apparent arbitrage opportunities were rare and simulated trades were unprofitable assuming a one-minute execution...