The subject of market power is discussed frequently in debates about subsidies for ethanol production, and structural conditions in the industry create a prima-facie case for concerns about market power. This paper develops a prototype model for determining the production and price impacts and...

This article addresses the current status of farm buyer market power. We argue that buyer power concerns are often overstated because traditional models of buyer power are incapable of depicting the economic interactions that are fundamental to modern agricultural markets, where exchange is...

This paper analyzes the challenges and opportunities for agricultural marketing cooperatives in value-added, quality-differentiated markets. Product quality in all of its dimensions is critical in modern food markets, but various traditional cooperative business practices are not conducive to...

The speculative bubble phenomenon has been studied extensively by economists and psychologists in recent years. The recent literature is surveyed and extended to enhance the understanding of speculative bubbles in agricultural industries. The analysis is applied to the U.S. alpaca industry,...

We analyze the impacts of minimum quality standards (MQS) imposed by producers acting collectively through a producer organization, such as a marketing order. MQS imposed in a competitive market can never enhance social welfare because in general an MQS creates two deadweight losses--one due to...

The speculative bubble phenomenon has been studied extensively by economists and psychologists in recent years. The recent literature is surveyed and extended to enhance the understanding of speculative bubbles in agricultural industries. The analysis is applied to the U.S. alpaca industry,...