Livestock Gross Margin Insurance for Dairy Cattle (LGM-Dairy) is a recently introduced tool for protecting average income over feed cost margins in milk production. In this paper we examine the assumptions underpinning the rating method used to determine premiums charged for LGM-Dairy insurance...

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....

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...

This article investigates a comprehensive assessment of firm strategic behavior under financial market uncertainty. A general theoretical model of market value maximization (MVM) is constructed using a traditional capital asset pricing format. The model built on the nonlinear Almost Ideal Demand...

In this paper, a two-period game is constructed, where duopoly firms choose advertising strategies in the first period and compete in price or quantity in the second period by maximizing the value of firm equity. Using certainty equivalence, we demonstrate the impacts of uncertainty and modes of...

A central result in the theoretical literature on strategic trade is the ërent-shifting hypothesisí, the idea that governmentís can employ trade policy as a precommitment device to transfer profit from foreign to domestic firms. To our knowledge, however, the rent-shifting hypothesis remains...

Real options theory is employed to measure the value of investing in organic wheat production using precision agriculture technology. Results reveal that an option to wait until market uncertainty is resolved is valuable. Information obtained via precision agriculture technology is also valuable...

The ag-biotech industry underwent considerable consolidation in the last decade in part to take advantage of economics of scale and scope. The paper investigates the impact of such consolidation on inventive activity at the firm level. Careful attention is paid to the role of firm size,...

Empirical evidence from research on Bt maize in Kenya puts to rest most concerns raised against GMOs (not responding to farmers' needs, expensive, benefiting agro-business, risk of decreased biodiversity), but does indicate that contamination of local varieties is likely and buildup of insect...