Using panel data from a survey conducted in 2006 and 2008 of 177 market-oriented farmers in central Chile, we investigate investment under imperfect capital markets. Specifically we determine the impact of formal credit constraints on fixed investment. By controlling for endogeneity problems, we...

Point forecasts are a common method to classify uncertain future outcomes. In the option price literature the concept of implied volatility is well known. This concept is used to get a forward looking indicator about the future volatility. Nowadays market expectations can be extracted in...

Smallholder farmers’ land allocation decisions in marginal areas of developing countries typically involve a substantial element of risk, especially when they concern input intensive cash crops. Hence, apart from farmers’ resource endowment, their individual level of risk aversion is a...

When evaluating the impact of a program, the effects of interventions on program outcomes must be measured against a valid counterfactual case. Constructing a valid counterfactual is especially important when experimental data is not available. Building a baseline ensuring that treatment and...

We analyze how the governmental market interventions during the commodity price peaks 2007/2008 and 2010/2011 have affected the transmission of price changes along the wheat-to-bread supply chain in Serbia. We aim to investigate if consumers benefitted from the wheat and flour export...

A major criticism of contingent valuation methods relates to their hypothetical nature, where truthful revelation of willingness-to-pay is not secured because of the missing link between stated willingness-to-pay and the respondent's budget constraint. Large deviations between stated...

We propose a collective induction treatment as an aggregator of information and preferences, which enables testing whether consumer preferences for food quality elicited through experimental auctions are robust to aggregation. We develop a two-stage estimation method based on social judgment...

In this paper, farm level technical efficiency of production and its determinants are investigated in a sample of 51 cereal producing farms located in the main cereal production region in Tunisia using a stochastic frontier production model. Empirical findings show that labor input factor...

This paper analyzes the effects of Mercosur on Paraguayan import flows using detailed trade values to identify patterns of trade creation and trade diversion at aggregate and disaggregate commodity levels. It is well know that the share of foreign trade with respect to GDP is larger for small...

Origin matters. This has been shown by numerous studies using either discrete choice or hedonic approaches to derive implicit prices for origin as a product attribute. In most of the hedonic studies, intercept dummies were introduced for specific regional origins and statistically significant...