Behavioral finance is a relatively new field of inquiry that may help better understand farmer marketing. The theory … theory can help explain why producers would pay a marketing consultant even when markets are efficient. Extension programs … need to consider the psychology of marketing. The theory suggests that decisions need to be framed in terms of their effect …

A new paradigm is needed in extension marketing programs. Attempts to help producers time the market, either through … cask sales or futures trading, appear to be of little benefit. Marketing extension programs need to place less emphasis on … outlook and futures trading and more emphasis on simple marketing strategies that people really use. An empirical example of …