A dynamic dual model of investment under uncertainty is applied to a panel of Finnish hog farms. Stochastic dynamic programming is used to characterize duality relations. The model accommodates irreversibility and/or asymmetric adjustment costs. Results have important implications for Finland's...

The Federal Government of Germany as well as the European Commission are discussing the establishment of an animal welfare label. This label should enable consumers to make a conscious purchasing decision on animal welfare products. Various studies show that many consumers (in Germany around 20...

This paper is based on our ongoing joint work with Ravi Kanbur. Xi Chen is grateful to Ravi Kanbur for invaluable comments, guidance and encouragement. For comments and suggestions, please direct correspondence to Xi Chen at xc49@cornell.edu.

This paper is based on an ongoing joint work with David Sahn and Xiaobo Zhang.

A comparative analysis was performed looking at using cash, futures, options, or insurance to manage the price of calves for cow-calf producer. Risk can be reduced with the futures market and with options or LRP insurance. Options and LRP insurance are equivalent in the amount of risk that is...

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Never before has food been as safe and secure as it is today, but simultaneously, society has become increasingly critical towards agricultural and food related issues. This two-sided development between society and agribusiness will be analyzed using Framing Theory. A quantitative semantic...

In this paper, results from a study on the use of improved coffee production technology schemes among smallholder coffee producers in three prominent coffee producing regions in Honduras are presented. The impact of various schemes (trajectories) in which different agents influence the...

Several researches evaluated consumers’ Willingness To Pay (WTP) for each meat traceable attribute, generating a great deal of information in this regard, although specific to the conditions of each study. In light of this, WTP estimates for traceability characteristics differ across the...

The volatility of agricultural markets has increased remarkably in recent years. In spite of this, the way in which supply chain actors perceive market volatility has only rarely been analyzed. This paper seeks to close this research gap by presenting empirical findings about how the volatility...