Studies of hog industry structure often invoke risk reduction and transaction costs explanations for empirical observations but fail to directly examine the core concepts of risk behavior and transaction costs theories. Using a more unified conceptual framework and unique survey and accounting...

Studies of hog industry structure often invoke risk reduction and transaction costs explanations for empirical observations but fail to directly examine the core concepts of risk behavior and transaction costs theories. Using a more unified conceptual framework and unique survey and accounting...

This paper investigates the dynamics of sequential decision-making in agricultural futures and options markets. Analysis of trading records of 12 traders identified considerable heterogeneity in individual dynamic trading behavior. Using risk measures derived from the deltas and vegas of...

This paper investigates the dynamics of sequential decision-making in agricultural futures and options markets. Analysis of trading records of 12 traders identified considerable heterogeneity in individual dynamic trading behavior. Using risk measures derived from the deltas and vegas of...

Little information exists on grain merchandisers, their characteristics, and the skills needed to be successful. This research contributes toward filling this gap. A summary of survey responses from 230 experienced grain merchandisers quantifies personal characteristics, skills perceived as...

A conceptual marketing-finance framework is proposed which links channel contracting in agriculture and the use of financial facilitating services (e.g., financial derivatives) to (shareholder) value creation. The framework complements existing literature by explicitly including channel contract...

This study sought to examine the nature of farmers’ use of market advisory services based on the results of a survey of US crop producers. The survey revealed that market advisory service users tend to be significantly more risk seeking than non-users. Survey results indicated a large range in...

A conceptual marketing-finance framework is proposed which links channel contracting in agriculture and the use of financial facilitating services (e.g., financial derivatives) to (shareholder) value creation. The framework complements existing literature by explicitly including channel contract...

Liquidity costs in futures markets are not observed directly because bids and offers occur in an open outcry pit and are not recorded. Traditional estimation of these costs has focused on bidask spreads using transaction prices. However, the bid-ask spread only captures the tightness of the...

This study investigates the predictability of outlook hog price forecasts released by Iowa State University relative to alternative market and time-series forecasts. The findings suggest that predictive performance of the outlook hog price forecasts can be improved substantially. Under RMSE,...