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Models of agricultural economics typically operate at an annual basis or in a static equilibriumframework where inputs, outputs and their prices may change considerably. Production dynamics,however, imply that models relying on spatial and temporal aggregation do not capture the effects...

We theoretically examine a farmer’s coverage demand with area and individual insurance plans as either separate or integrated options. The individual and area losses are assumed to be imperfectly and positively correlated. With actuarially fair rates, the farmer will fully insure with the...

We theoretically examine a farmer’s coverage demand with area and individual insurance plans as either separate or integrated options. The individual and area losses are assumed to be imperfectly and positively correlated. With actuarially fair rates, the farmer will fully insure with the...

Production costs for fresh Atlantic groundfish and scallop processing are examined using direct observation, linear regression analysis, and cost accounting. Assuming that management chooses a production technique where marginal costs are constant over a wide range of production due to...

Throughout its history the North Pacific halibut fishery has experienced dramatic changes in season length—most recently a greater than tenfold decrease during the last fifteen years. This analysis estimates the effect on exvessel halibut demand of season length by incorporating it with...

The behavior of agricultural commodity markets can arguably result in markedly asymmetricprice cycles, that is, downward cycles of substantially different length and breadth thanupward cycles. This study assesses whether asymmetric-cycle models can enhance the understandingof the dynamics and...

This paper examines the supply response of the Greek pork market. A GARCH process isused to estimate expected price and price volatility, while price and supply equations areestimated jointly. In addition to the standard GARCH model, several different symmetric,asymmetric, and nonlinear GARCH...

The typical model of retail pricing for produce products assumes retailers set price equal to the farm price plus a certain markup. However, observations from scanner data indicate a large degree of price dispersion in the grocery retailing market. In addition to markup pricing behavior, we...

Veggies 4U is a young and dynamic family-run greenhouse: Lucy and her husband run the business with the help of a small group of friends and colleagues who serve on the company’s Board of Directors. Lucy is preparing a report to the Board to recommend a natural gas supply contract for the next...