It is well recognized that the statistical reliability of the conventional method of estimating the effects of technological change on producer welfare is often quite poor. I present a method that enhances the statistical reliability of such estimates. I emphasize that when measuring the welfare...

To address the question, "Should we expect government policy to be efficient?" at its roots, I modify the well-known Arrow-Debreu private ownership economy, allowing property rights to be violable. The result is that equilibria tend to be Pareto inefficient.

We combine theory with numerical integration methods to show that for any form of uncompensated supply, compensating variation of a change in higher moments of an output price distribution can be numerically derived.

Many mechanized crop producers and agribusinesses are fascinated with precision agriculture technology, but adoption has lagged behind the expectations. Among the reasons for slow adoption of precision agriculture technology is that initial users focused excessively on in-field benefits from...

It is well recognized that the statistical reliability of the conventional method of estimating the effects of technological change on producer welfare is often quite poor. I present a method that enhances the statistical reliability of such estimates. I emphasize that when measuring the welfare...

Analysts often use a single average or otherwise aggregated price series to represent several geographic or product markets even when disaggregate data are available. We hypothesize that such an approach may not be appropriate under some circumstances, such as when only long-term relationships...

We analyze the movement of farm prices relative to other commodity prices in the period 1913:1-2003:12, investigating the number and time of structural breaks and discussing likely causes of structural breaks in the relative farm prices. Bai and Perron's (1998, 2003) multiple structural change...

Analysts often use a single average or otherwise aggregated price series to represent several geographic or product markets even when disaggregate data are available. We hypothesize that such an approach may not be appropriate under some circumstances, such as when only long-term relationships...