This paper investigates whether a small country facing foreign price instability benefits from active stabilization of the domestic price of the importable. If the random tariff revenue is rebated ex post, domestic price stabilization increases income instability, and nonintervention is optimal....

This study tests hypotheses derived from the theory of rationing using data for Polish households during the transition. There are six commodity groups and virtual prices are derived for rationed goods. The evidence is consistent with the theory: larger own-price elasticities for non-rationed...

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...

This study uses an error correction model (ECM) to investigate dynamics in farm-retail price relationships. The ECM is a more general method of incorporating dynamics and the long-run, steady-state relationships between farm and retail prices than has been used to data. Monthly data for beef and...

The 1991 Latvia household budget survey provided data for establishing basic information about food consumption levels and patterns in Latvia during the first year of major economic reforms. This study evaluates one aspect of economic decision making of households: how income is allocated for...

Paper for presentation at the Northeastern Agricultural & Resource Economics Association’s Workshop on Economics and Child Nutrition Programs, AAEA & NAREA Joint Annual Meeting, Pittsburgh, Pennsylvania, July 23, 2011.

Finisher hog production in North America has seen a shift toward larger production units and contract-organized production since circa 1990. Given the efficiency gains and conversion costs associated with contract production, growers may have to choose between long term commitment through...

The popularity of AIDS may not easily extend to censored demand systems. We propose an incomplete demand system that has relatively few restrictions on the parameter space, but preserves its theoretical consistency and apply this model to Indonesian data that have significant proportion of...

The appearance of organic produce is often less than perfect because of limited methods of avoiding plant diseases. We combine hypothetical and real auction mechanisms to investigate how cosmetic damage affects consumers’ willingness to pay for apples. We find that 75% of the participants...