In this paper the problem of Status Quo and willingness to pay by inhabitants of Haute- Normandy region in France for reduction of risk of erosive runoff was researched. The paper is dedicated to the definition of the factors which influence people’s willingness and unwillingness to pay for...

We theoretically examine a farmer’s coverage demand with area and individual insurance plans as either separate or integrated options. The individual and area losses are assumed to be imperfectly and positively correlated. With actuarially fair rates, the farmer will fully insure with the...

This paper takes a new empirical look at the long-standing question of the effect of exchange rate volatility on international trade flows of transition economies in Central Europe by studying the case of Hungarian agricultural exports to their export destination countries between 1999 and 2008....

This research locates a series of risks or hazards within a framework characterized by the level of control respondents believe they have over the risks, and the level of worry the risks prompt. It does this for a set of both food and non-food risks. The means by which this is done is novel and...

Options on agricultural futures are popular financial instruments used for agricultural price risk management and to speculate on future price movements. Poor performance of Black’s classical option pricing model has stimulated many researchers to introduce pricing models that are more...

This paper is based on our ongoing joint work with Ravi Kanbur. Xi Chen is grateful to Ravi Kanbur for invaluable comments, guidance and encouragement. For comments and suggestions, please direct correspondence to Xi Chen at xc49@cornell.edu.

This paper is based on an ongoing joint work with David Sahn and Xiaobo Zhang.

Agricultural technology adoption is often a sequential process. Farmers may adopt a new technology in part of their land first and then adjust in later years based on what they learn from the earlier partial adoption. This paper presents a dynamic adoption model with Bayesian learning, in which...

The commodity bull cycle of 2006-2008 and subsequent dramatic price decline have been a source of hardship for traditional commodity market participants such as producers and merchant/shippers. The usefulness of futures markets has been called into question, especially given that some market...

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...