Books Reviewed include: A Comprehensive Assessment of the Role of Risk in US Agriculture by Just Richard E., Rulon D. Pope; Providing Global Public Goods: Managing Globalization by Inge Kaul, Pedro Conceicao, Katell Le Goulven and Ronald U. Mendoza; Agricultural Policy Reform-Politics and Process...

The regional impacts of technical change on the U.S. dairy are assessed in terms of production and income distribution through a dynamic equilibrium model. Productivity increases are projected to raise the national market share of the Northeast, Lake States and Pacific regions at the expense of...

The Dixit entry/exit real option model, modified to accommodate a milk price support regime, was applied to the entry/exit decisions of New York dairy farmers. Results varied by farm size, but for the 500-cow farm the entry milk price is $19.09 and the exit milk price is $11.66 when farmers were...

The weak axiom of profit maximization (WAPM) was used to test how successful each of 70 individual New York State dairy farms was in maximizing profits using nine years of data. The netput vectors were corrected for technological change using nonparametric indices that do not require the...