Producers have a wide variety of risk management instruments available. How do producers make a choice of risk management instruments? Using the recently developed choice bracketing framework, we examine what risk management strategies producers use and identify the factors that drive their risk...

A Bayesian hierarchical model was employed to estimate individual expected pricing performance for market advisory programs in corn and soybeans. Performance is defined as the difference between the price/revenue obtained by following the program's marketing recommendations and the average...

We develop a Bayesian implementation of the standard optimal hedging model to analyze the impact of hedgers' subjective views on their hedging behavior. The results show the subjective views have a substantial impact on hedgers' optimal positions, explaining the large cross-sectional and time...