Analysis of survey data indicates that Japanese consumers discount their willingness to pay for U.S. beef and pork relative to that of domestic products, but that the discounts have declined from 2006 to 2009. The discounts for U.S. products were greater than those imported from other countries...

This research shows that a portfolio of wheat varieties could enhance profitability and reduce risk over the selection of a single variety for Kansas wheat producers. Many Kansas wheat farmers select varieties solely based on published average yields. This study uses portfolio theory from...

This paper surveys and evaluates the current state of knowledge about marketing strategies to manage price and revenue risk for farm commodities. What does existing research tell about the benefits and costs of alternative risk management strategies? What are the limitations of this research?...

As increasingly more transactions occur away from open markets, the so-called "thin" market issues arise. This paper analyzes unpublished transaction data from Egg Clearinghouse, Inc. (ECI), a marginal marketplace for eggs that trades 4% of all eggs (80% of eggs available for open trading)....

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...

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...

Agricultural studies have often differentiated and estimated different technologies within a sample of farms. The common approach is to use observable farm characteristics to split the sample into several groups and subsequently estimate different functions for each group. Alternatively, unique...

The spread of Asian Soybean Rust (ASR) represents a real threat to the U.S. soybean sector. We assess the potential impacts of ASR on domestic soybean production and commodity markets as well as the competitive position of the US in the soybean export market. We develop a mathematical stochastic...

Corn ethanol plants consume large amounts of corn and their location has the potential to alter local crop prices and surrounding agricultural land values. The relationship between ethanol plant location and agricultural land prices is examined using data obtained from the Agricultural Credit...