We explore in this paper the consequences of status seeking preferences among agents contracting with a private principal in the context of production. We examine in particular the case of envy and we show that in general envy entails augmented distortions due to asymmetric information in...

The study finds that the emergence and expansion of the ethanol sector was associated with a fundamental transformation of the integration of the energy and agricultural sectors. In particular, the correlation structure between crude oil and grain prices increased dramatically, becoming more...

Agricultural studies have often differentiated and estimated different technologies within a sample of farms. The common approach is to use observable farm characteristics to split the sample into several groups and subsequently estimate different functions for each group. Alternatively, unique...

We use data from a recent national survey to analyze the use of subtherapeutic antibiotics (STAs) among producers of broilers. STAs are included in feed or water and are intended to prevent disease or promote growth. Producers who do not use STAs instead rely on a set of other practices,...

Livestock Gross Margin insurance for dairy cattle (LGM-Dairy) is a risk management tool that can be used to insure a lower bound on a dairy producer’s gross margin. In this paper we (1) review the basic structure of LGM-Dairy (2) examine the sensitivity of Gross Margin Guarantee (GMG) and...

Replaced with a revised version of the paper 12/09/09.

Xi Chen acknowledges generous Doctoral Research Grant from the Institute for the Social Sciences at Cornell University and precious data set provided by the Development Strategy and Governance Division at IFPRI. Conference Travel Grant provided by the Department of Applied Economics and...

The organic cotton market has been growing internationally and presents a potential opportunity for producers. This article evaluates prices and returns for organic cotton production in Texas using a stochastic frontier approach. Organic producers were found to be more profitable relative to...

In Georgia, the price of irrigation water is equal to the cost of extraction, including pumping and diversion, storage, treatment, and delivery costs. These water-pricing conditions are repeated in locales around the world. In lieu of established water markets, water use and its efficient use...