Markets for agricultural products may be inefficient when signals do not adequately reflect product characteristics important to market participants. Although preferences can be explicitly stated through price premiums or characteristic values can be determined via hedonic methods, the problem...

Markets for agricultural products may be inefficient when signals do not adequately reflect product characteristics important to market participants. Although preferences can be explicitly stated through price premiums or characteristic values can be determined via hedonic methods, the problem...

The main question posed in the paper asks why do some cooperative arrangements in agricultural markets survive and succeed and others fail? We define success and factors affecting success of cooperation using transaction costs theory and game theory. Transaction costs theory provides insights on...

The paper analyses the impacts of transaction costs on the degree of household market integration using survey data collected from smallholder potato farmers located in the Peruvian Andes. The analysis focuses on the impacts of transaction costs differentiated as information, negotiation and...

The last 10 years have seen tremendous expansion in biofuels production, particularly in corn ethanol in the United States, at the same time that commodity prices (e.g., corn) have experienced significant spikes. While supporters claim that biofuels are renewable and carbon-friendly, concerns...

Motivated by repeated price spikes and crashes over the last decade, we investigate whether the intensive investment activities of commodity index traders (CITs) have destabilized agricultural futures markets. Using a stochastic volatility model, we treat conditional volatility as an unobserved...