This paper investigates the dynamics of sequential decision-making in agricultural futures andoptions markets using a quantile regression framework. Analysis of trading records of 12 traderssuggests that there is great heterogeneity in individual trading behavior. Traders responddifferently to...

We study the difference in the volatility dynamics of CBOT corn, soybeans, and oatsfutures prices across different delivery horizons via the smoothed Bayesian estimatorof Karali, Dorfman, and Thurman (2010). We show that the futures price volatilitiesin these markets are affected by the...

Includes cover page, journal info, contents page, and editorial information

Replaced with revised version of paper Jan. 11, 2012

This study uses nationally representative data from 360 farm households in Benin to estimate how access to storage technologies and storage losses from insects affects a smallholder African farmer’s decision to hold grain from production, in an environment of high price variability. We find...

This article presents newly developed national estimates of average income, per farm and per person in the farm family, for each economic class of farm in 1949. Aggregates and averages of farm income and expenditures are published regularly in considerable detail in The Farm Income Situation....