This study presents a framework to analyze how uncertainty about product attributes affects consumers' WTP for brand name products over generic ones, incorporating key elements of a random utility model and product attribute models. We found that in comparison to electronics, clothing, and...

We use a game-theoretical framework to analyze the coexistence of spot and contract markets in the cattle industry. A duopsony scenario with two packers and N feeders is used to reflect the reality in the cattle industry. Our main contribution is to incorporate the risk components and the...

The increasing awareness of, and concern over, possible terrorist attacks using biologicalthreats has increased attention and efforts for safeguarding U.S. agriculture. Whetherintentional or unintentional, a biological event likely would cause substantialconsequences well beyond the U.S....