Over twenty years ago James M. Buchanan showed that serious horizontal inequities could exist in a federated system in the sense that residents of relatively low-income political subdivisions might receive lower benefits (net of taxes) from central and state government expenditures than people...

Demand and supply are often asymmetric, that is, cross-price effects are not equal over all commodities Because of asymmetry, conventional surplus maximization formulations cannot be employed to compute a competitive market equilibrium Thid article compares alternative formulations under a...

Meat consumption patterns have changed in the United States. A cursory inspection of the disappearance statistics for meat in the United States reveals that generally, the consumption of red meats has decreased or remained constant while the consumption of poultry and other meats has increased....

Two competing econometric models of the U.S. pork sector augment the initial U.S. Department of Agriculture (USDA) estimates of the U.S. Hogs kept for breeding with market information. The first incorporates the rational expectation hypothesis and the second uses futures market prices as the...

We develop a model explaining the consolidation patterns in the agricultural biotechnology industry. Among different consolidation and cooperation mechanisms, we consider collaborative and licensing agreements, joint ventures, acquisitions, and exchanges of ownership and spin-offs. The key...