This paper extends the basic results of Houck’s insight for derived demand elasticities for the case of joint products by allowing for the possibility of the joint and raw products being traded. Theoretical relationships between individual demands for a set of jointly-produced commodities that...

This paper extends the basic results of Houck’s insight for derived demand elasticitiesfor the case of joint products by allowing for the possibility of the joint and rawproducts being traded. Theoretical relationships between individual demands for aset of jointly-produced commodities that...

Vector autoregressions are used to evaluate dynamic relationships among prices in six important international wheat markets. The effects of freight rates and exchange rates are also considered. The results indicate that Canada is the dominant market, supporting views that Canada is an...

The impact of violent conflict on the state of the economy has been studied extensively since the two recent decades. In most studies the state of the economy is operationalized by stock market indices of the respective countries. In this paper we suggest investigating the impact of violent...

We use simulation methods in an expected utility maximization framework to analyze a farmer’s optimal resource allocation in the presence of government payments, decoupled and not. This framework is extended to incorporate the optimal choice of investment levels in the presence of credit...