This paper surveys and evaluates the current state of knowledge about marketing strategies to manage price and revenue risk for farm commodities. What does existing research tell about the benefits and costs of alternative risk management strategies? What are the limitations of this research?...

Paper replaced with revised version 06/13/08

Replaced with revised version of paper 06/18/08. Former title: Non-Linearity in Belief and Environmental Risk Dynamics

This paper assesses the impacts of decoupled government transfers on production decisions of a sample of Kansas farms observed from 1996 to 2001. Our model allows for risk, risk attitudes and the intertemporal investment decisions. We also allow for different adjustments of the decision...

The main area of focus in this paper is variation across regions and over time in the U.S. as estimated by different food price data sets. There are a variety of potential sources for food price data, but it is important to compare the relative strengths and weaknesses of the data sources in...

Using county level data we study if weather and climate variables or variables used as proxies for rent-seeking behavior determine disaster payment in the Southeast. We do not find evidence of rent-seeking but find that, in addition to weather, long term climate variables affect disaster payments.

Contractual breaches are very common in developing countries such as China. In order to prevent breaches of contract, the contractual designs between farmers and agricultural processors (Dragon Head Firms) in China are innovating in two ways: organizational innovations and contractual...

We compare the ability of three preference elicitation methods (hypothetical choices, non-hypothetical choices, and non-hypothetical rankings) and three discrete-choice econometric models (the multinomial logit, the independent availability logit, and the random parameter logit) to predict...

Previous attempts at identifying and estimating a time-varying risk premium in the cocoa futures market yielded conflicting results. Using a longer series that includes the most recent cash and futures data, the existence of a time-varying risk premium in the cocoa futures market is...