Global production of biofuels has been expanding with the enduring concerns on climate change and energy security. The U.S. Congress has established a renewable fuel standard 2 (RFS2) rule that mandates annual combined production of 36 billion gallons (bg) biofuels by 2022 (USEPA, 2010). Large...

Basic economic theory predicts that a consumer's willingness to pay for a good is affected by the presence of complements and substitutes. In an auction setting, this theory implies that the presence of complements would increase bid prices for a good, while the presence of substitutes would...

As U.S. farm income from tobacco production has declined in recent years, there has been increased interest in developing alternative sources of farm revenue to replace lost tobacco income, particularly in tobacco-dependent communities of the southeastern United States. The recent end of the...