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Food risks may be caused by moral hazard, i.e. by opportunisticbehaviour of upstream sellers who exploit the fact that many foodproduct qualities remain uncertain to downstream buyers in thecourse of conventional market transactions (credence qualities).Due to this lack of market transparency...
Persistent link: https://www.econbiz.de/10009443685
The traceability allows, for each product, to sketch the manufacturing process through a system documentary, enabling … and distribution. There are researches that investigate the traceability within the firm, but little work has been carried … out on the investigation of the traceability system over the whole supply chain. The supply-chain of fresh produce is …
Persistent link: https://www.econbiz.de/10008508816
Since 2005, the implementation of a traceability system is mandatory to all European food chain operators. Thebalance … of costs to build and maintain the traceability system and benefits of traceability depends on the firm … and Menozzi (2005) mention that the cost of traceability is lower when firmsalready have a QMS in place. Moreover, US …
Persistent link: https://www.econbiz.de/10009443767
Since 2005, the implementation of a traceability system is mandatory to all European food chain operators. The balance … of costs to build and maintain the traceability system and benefits of traceability depends on the firm's traceability …. Mora and Menozzi (2005) mention that the cost of traceability is lower when firms already have a QMS in place. Moreover, US …
Persistent link: https://www.econbiz.de/10008853585
Traceability can serve various purposes in the food sector, including that of chain quality control. However, the … aspects that seem to be most frequently required of traceability are those related to food safety. Nevertheless, traceability … support it: traceability systems do not guarantee, per se, quality. On the other hand, a rigorous traceability system that …
Persistent link: https://www.econbiz.de/10008853619
We theoretically examine a farmer’s coverage demand with area and individual insurance plans as either separate or integrated options. The individual and area losses are assumed to be imperfectly and positively correlated. With actuarially fair rates, the farmer will fully insure with the...
Persistent link: https://www.econbiz.de/10009444562
This paper investigates the dynamics of sequential decision-making in agricultural futures andoptions markets using a quantile regression framework. Analysis of trading records of 12 traderssuggests that there is great heterogeneity in individual trading behavior. Traders responddifferently to...
Persistent link: https://www.econbiz.de/10009446385
We study the difference in the volatility dynamics of CBOT corn, soybeans, and oatsfutures prices across different delivery horizons via the smoothed Bayesian estimatorof Karali, Dorfman, and Thurman (2010). We show that the futures price volatilitiesin these markets are affected by the...
Persistent link: https://www.econbiz.de/10009446386
Taken together, studies that examine how well commodity futures marketsperform find that risk premiums are common—and so unbiasedness is not—and marketsare not uniformly efficient across commodities or forecast horizons. This large body ofresearch sheds important light on whether and to what...
Persistent link: https://www.econbiz.de/10009446390
Hedging effectiveness is the proportion of price risk removed through hedging. Empiricalhedging studies typically estimate a set of risk minimizing hedge ratios, estimate the hedgingeffectiveness statistic, apply the estimated hedge ratios to a second group of data, and examinethe robustness of...
Persistent link: https://www.econbiz.de/10009446391