A new stochastic process is introduced where permanent changes occur following a Poisson jump process and temporary changes occur following a normal distribution. The model is estimated using hard wheat basis data and is used to explain why the optimal length of moving average to forecast basis...

With new food technologies such as cloning or added artificial growth hormones, consumers face complex and conflicting information related to the quality, safety, nutrition, and ethical outcomes associated with food choices. Economics has partially addressed the challenge of predicting...

Traceability and authenticity issues have gained increasing prominence in food markets and create both opportunities and challenges for the food industry in providing credible information to consumers. Internal molecular tagging is an emerging technology with the potential to deliver...

Auctions are commonly used when a seller is unsure about the values that potential buyers attach to the object being sold. Bidders’ willingness to pay can be elicited in the form of bids. Many auctions are designed to be truth revealing such that bidders’ optimal strategy is to bid their...

International pork trade has not only been influenced by trade agreements but also altered by consumer perceptions on disease-infected animals. This study uses a gravity model with fixed-effects to investigate how pork trade is affected by foot-and-mouth disease among 186 countries. Results...

This study estimated net irrigation benefits from the proposed Cable Mountain Reservoir (CMR) on the North Fork of the Red River in Southwestern Oklahoma. Part of the benefits from the CMR might come from replacing the largely depleted groundwater in the Tillman Terrace area (TTA) of western...

This paper studies the effect of electronic trade on the quality of market price discovery, using the Intercontinental Exchange (ICE) cotton futures market as a laboratory to measure market quality under periods of floor trade, parallel floor and electronic trade, and electronic-only trade....