The US Food and Drug Administration confirmed in February 2007 that a major foodborne illness outbreak was caused by two peanut butter brands, Peter Pan and Great Value, manufactured by ConAgra Foods Inc. at its Sylvester, Georgia, processing plant. As a result, on February 14, 2007, ConAgra...

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...

In this research, we integrated an experimental auction with sensory science techniques—namely, trained sensory panels used to analyze the sensory attributes of wines—to examine the effects of objective and sensory information in the market for California-produced Cabernet Sauvignons. The...

This paper explores the welfare changes as a result of changes in prices and quantities of Colorado labeled apples relative to domestically produced apples, using equilibrium displacement model with two-regions: Colorado State and the rest of the United States. The results showed that in the...

This paper analyzes the optimal advertising and price policies of a monopolist who sells a new experience good over time to a population of heterogeneous forward-looking buyers. We consider informative advertising that can complement or substitute for learning-by-purchasing, and show that the...

Many economists and others are interested in the phenomenon of rising alcohol content of wine and its potential causes. Has the alcohol content of wine risen—and if so, by how much, where, and when? What roles have been played by climate change and other environmental factors compared with...

The New York State Milk Price Gouging Law establishes that the retail prices of fluid milk products are not to exceed 200% of the prices that NYS milk processors pay for Class I milk. The enforcement of this law significantly affected the nature of the Class I fluid milk price transmission...