This article embeds a principal-agent model within a market equilibrium model of contract and cash markets to analyze the impact of contracting on the spot market for hogs. The equilibrium model incorporates both quality differentiation in the contract market and an endogenously determined cash...

This article reconciles two notions of soil-quality indexes with the economic concepts of technical efficiency and productivity growth. An example uses data from the U.S. Department of Agriculture's experimental fields in Maryland and data envelopment analysis techniques to estimate a...

This article embeds a principal-agent model within a market equilibrium model of contract and cash markets to analyze the impact of contracting on the spot market for hogs. The equilibrium model incorporates both quality differentiation in the contract market and an endogenously determined cash...