This paper explores an optimal sharing contract between a grape grower and a winery, when a risk-averse grower allocates efforts among multiple activities that differe in measurability, while double-sided moral hazard is assumed to be present. The contract allows for asymmetric quality...

Following the May 2003 Canadian BSE case, food safety issues have become even more prominent to policymakers and consumers. In both Canada and the US, governments and industry have responded with a variety of quality assurance, traceability and labeling schemes. However, there is little...

This paper examines alternative risk management strategies in terms of their effectiveness for three representative Alberta farm operations. Stochastic dynamic simulation methods are used to model financial performance for these farms, and alternative risk management programs are compared in...

This paper develops a theory of interdependent utility functions in examining congestion in recreation demand equilibria. The notion is examined empirically through the development of congestion forecasting functions which individuals use to sort themselves among a set of recreation sites. These...

Productive efficiency for Chinese hybrid and conventional rice production is estimated using a dual stochastic frontier efficiency decomposition model. Results reveal significant differences in technical and allocative efficiency between conventional and hybrid rice production, and indicate...

Secondary asset market data for combines and tractors are used to estimate and separate out historical economic depreciation, embodied technological change and time value change. Combines and tractors generally exhibit constant geometric economic depreciation on a year to year basis....

A simulation model of a ranch based in Southern Alberta was developed to evaluate the on-ranch economics of adopting different grazing management strategies to improve riparian health in rangeland. Under low cost scenarios, there are positive economic incentives to adopt strategies to maintain...