Conventional procedures for calculating confidence limits of forecasts generated by statistical models provide little guidance for forecasts based on a combination or a consensus process rather than formal models, as is the case with US Department of Agriculture (USDA) forecasts. This study...

This paper assesses the impact of nutrient prices on nutrient concentrations in agricultural watersheds. Specifically, we find that the price elasticity of nutrient emissions from agricultural watersheds is −0.17 to −0.34, suggesting that a 10% increase in nitrogen or phosphorus prices faced...

This study examines the risk management opportunities for fluid milk market participants in the United States through the use of milk futures contracts. We estimate the nature of basis risk from 2002–2011 using modern time-series and econometric techniques. The results of this investigation...

Exposure to natural hazards tends to be poorly understood and yet implicitly accepted by a large proportion of populations at risk. Some people through years of experience and time-tested coping mechanisms effectively respond to most hazards. Others, lacking skills and experience, are dependent...