A theoretical model is developed to explain the economics of determining price slides for feeder cattle. The contract is viewed as a dynamic game with continuous strategies where the buyer and seller are the players. The model provides a solution for the price slide that guarantees an unbiased...

This study asks the question, what is the relationship between traditional models of market power and structural auction models? An encompassing model is derived that considers both price markdowns due to bid shading during an auction and price markdowns at the industry-level due to imperfect...

Sensor-based precision fertilizer technologies are being developed and researched by production scientists. One such technology uses normalized difference vegetation index (NDVI) reflectance measurements of growing winter wheat plants and a nitrogen fertilizer optimization algorithm (NFOA) to...

This study compares liquidity costs of electronic and open-outcry wheat futures contracts traded side-by-side on the Kansas City Board of Trade. Liquidity costs are considerably lower in the electronic market. Liquidity costs in the electronic market are still considerably lower after...

We estimate the value of using information from genetic marker panels for seven economically relevant feedlot cattle traits. The values of using genetic information to sort cattle by optimal days-on-feed are less than $1/head for each of the traits evaluated. However, the values associated with...

This article provides a framework to compare market outcomes among vertically integrated monopsonies in the cotton sector of West Africa and alternative, more competitive market structures. Based on a principal agent framework, in the presence of factor market constraints, as well as capital...

While considerable research has estimated liquidity costs of futures trading, little comparable research is available about options markets. This study determines effective bid-ask spreads in options and futures markets for Kansas City Board of Trade (KCBT) wheat. Effective bid-ask spreads are...

Kernel uniformity is an important quality attribute that can now be measured at low cost. This study analyzes the profitability of sorting to increase wheat kernel uniformity. Nonlinear programming is used to sort grain loads to maximize flour yield by increasing uniformity of kernel size and...