This article employs a Tobit model to examine whether the market power of manufacturers and retailers influence trade promotion decisions in the US food sector. Greater retailer market power increases allocation of funds to off-invoice trade promotions. We find evidence that the balance of power...

This paper combines the Becker family production model with a cooperative bargaining model to analyze power distribution within the family. Family consumption decisions are often made by one person, but for several people, suggesting traditional decision theory is inadequate. Using data gathered...

Purpose – This paper aims to clarify the relationship between wealth and trustworthiness with the goal of understanding why micro-lending institutions grant loans to poor individuals countering well-known models of credit markets and credit rationing, such as those proposed by Stiglitz and...

The objective of this study was to determine whether simple, low/no-cost, and choice-preserving interventions in school lunchrooms lead students to consume more fruits, vegetables, and fewer starchy sides. To test the total lunchroom makeover concept, we conducted the experiment in two separate...

Prospect theory has changed the way economists think about decision making under uncertainty – yet after so many years there have been few applications of the theory and those appearing mostly in finance. One of the barriers to applying the prospect theory is that it is not designed to be...

We develop an economic model of flex plants, export demands and two domestic fuel demand curves: E25, a 25 percent blend of ethanol with gasoline consumed by conventional cars, and E100, ethanol consumed only by flex cars. This allows us to analyze the market impacts of specific policies, namely...

The importance of risk preferences in agricultural production has long been identified as an important and preeminent issue of policy relevance. Recent developments in the study of production risk have called into question much of the core of risk production research. This article provides an...

Biofuel policies are a subset of policies designed to achieve energy security, an improved environment, enhanced agricultural incomes, technological change, and overall economic benefits, with increased domestic energy production creating green jobs and foreign exchange savings. In assessing...

Using a unique data set collected among farmers in India’s semiarid tropics, we document the surprising prevalence of risk-taking behavior in the face of realistically framed high-stakes gambles. We hypothesize that this apparently anomalous behavior is due to a combination of credit...

A conceptual framework is advanced that determines world biodiesel prices, the policy parameters in the country establishing the price, and the binding mandate or tax exemption. The effect of a tax credit differs with international trade compared to traditional closed economy analysis. The U.S....