Price endogeneity has been ignored in previous analyses of food demand in China. We exploit farm price data collected from the China National Bureau of Statistics to account for price endogeneity using reduced form price equations. Applying our unique econometric approach to the analysis of...

This article provides a structural framework for studying the market performance of various food industries. It revisits the benefit-function approach to modeling demand and extends its application to the empirical industrial-organization literature. We illustrate the empirical value of our...

We develop a new parametric bootstrap-based statistical test for presence of futures price and options-based implied volatility biases. The new test is applicable to data with overlapping prediction horizons. Information on anticipated volatility embedded in options prices is explicitly used...

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 study used Rosen's methodology of deriving a marginal implicit price series from traditional hedonic modeling and then using this series to estimate a demand model. This procedure was applied to Kansas Hard Red Winter wheat protein. Results were mixed. Own-district protein level was not...

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...

A common approach in the literature, whether the investigation is about futures price risk premiums or biases in option-based implied volatility coefficients, is to use samples in which consecutive observations can be regarded as uncorrelated. That will be the case for non- overlapping forecast...

The purpose of the research presented in this study is to examine the relationship of price dispersion to search costs, store choice, and market power in the food-retailing sector. The study used consumer level demographic information and brand level fluid milk consumption data from 33 U.S....

We investigate pricing and demand issues for four fresh potato categories (russet, red, white, and minor colored), organic fresh potatoes, and two processed potato categories (frozen/refrigerated and dehydrated) using a nonlinear generalized almost ideal demand system (GAIDS) that is closed...

The lack of transparency in the pricing and operational activities of state trading enterprises (STEs) has caused WTO members to express concern that certain countries’ STEs might circumvent Uruguay Round commitments on export subsidies, domestic support, or market access. The purpose of this...