This paper analyzes the sequential decision to adopt two site-specific technologies, soil testing and variable rate technology (VRT), and their impact on nitrogen productivity in four Midwestern states. The results indicate that while farm location was a key variable influencing the adoption of...

A four-region econometric model of U.S. apple production and consumption is developed. Technical progress has benefited growers in the Northwest the most, but prices there are much lower in comparison to other regions. Estimated elasticities are used to estimate national and regional welfare...

This study takes the standard acreage response model that stems from an expected utility framework, accounting for both price and yield variability, and nests it within a flexible semi-nonparametric (SNP) model consistent with farm-level decision models for computationally tractable results. We...

This study attempts to evaluate the economic benefits of the country of origin labeling (COOL) in Taiwan. A Vickrey second-price sealed-bid auction was conducted to estimate the consumer’s willingness to pay for Taiwan products vs. those from China and Vietnam. Our experiment was designed to...

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...

Forthcoming in the American Journal of Agricultural Economics.

Since 2003, the NEPAD Comprehensive Africa Agriculture Development Programme (CAADP) has been endorsed by African Heads of State and Governments as a vision for the restoration of agricultural growth, food security, and rural development in Africa. The program aims at stimulating agriculture-led...

Replaced with revised version of paper 08/06/10.

Options on agricultural futures are popular financial instruments used for agricultural price risk management and to speculate on future price movements. Poor performance of Black’s classical option pricing model has stimulated many researchers to introduce pricing models that are more...