An important characteristic of agricultural commodity markets is the extent to which those markets respond to price changes in related markets. Given a competitive market structure, the Law of One Price (LOP) postulates that spatial price relationships are determined by transfer cost1 among...

Over the past twenty years, the R&D-based agricultural biotechnology industry has exhibited cyclical behavior in consolidation. This paper provides a positive, theoretical model of endogenous R&D, in which the number of firms engaged in R&D exhibits cyclical behavior. Additional, empirically...

This research examines the economic effects of bovine respiratory disease (BRD) on backgrounding and finishing phases of cattle production. This research measures the effectiveness of using serum haptoglobin (Hp) concentration to predict BRD occurrence and the impact of multiple treatments for...

We use a case study approach to determine the primary factors affecting food manufacturers' commodity procurement decisions, as well as to examine the strategic nature of commodity procurement departments. The research fills a gap in both the commodity and procurement literature. A large...

"It is further the policy of the Congress to promote the efficient production, marketing, distribution, and utilization of products of the farm as essential to the health and welfare of our peoples and to promote a sound and prosperous agriculture and rural life...It shall be the object and duty...

The Land Grant College and University (LGCU) research system is in a state of confusion. Public research privatization, industry concentration, and balancing money and the Land Grant mission are issues LGCUs currently face. The ag-biotechnology revolution complicates these issues. This paper...

Over the past fifteen years, the agricultural biotechnology industry has exhibited cyclical behavior in concentration and consolidation. This paper provides a theoretical model of endogenous R&D, in which industry concentration exhibits cyclical behavior. The model also generates additional...

In 1998, Thorn Apple Valley ceased slaughter operations at its Detroit, Michigan plant, the state's only major hog packing facility. We examine the plant closing's local impact via an investigation of whether prices received by Michigan hog producers decreased relative to hog prices in the...