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...

This paper investigates the dynamics of sequential decision-making in agricultural futures and options markets using a quantile regression framework. Analysis of trading records of 12 traders suggests that there is great heterogeneity in individual trading behavior. Traders respond differently...

The literature on climate change and crop yields recognizes the need to allow for highly non-linear marginal effects. This study combines these two areas of the literature by using Flexible Fourier Transforms (FFT’s) to ensure flexibility for both the time trend and the weather effects. This...

The successful expansion of the U.S. crop insurance program has not eliminated ad hoc disaster assistance. An alternative currently being explored by members of Congress and others in preparation of the 2007 farm bill is to simply remove the "ad hoc" part of disaster assistance programs by...

Legislation has prompted changes in milk price volatility. Milk price volatility impacts the producer's exposure to business risk which is compound by the firms financial risk. Financial risk is a function of the firms capital structure. In the short run it is difficult for the producer to...

The volatility of agricultural markets has increased remarkably in recent years. In spite of this, the way in which supply chain actors perceive market volatility has only rarely been analyzed. This paper seeks to close this research gap by presenting empirical findings about how the volatility...

We used the well-being evaluation method, a technique for measuring individual utility, to study how people in the wildland urban interface of Colorado (USA) felt about their lives before and after two wildfire scenarios. Variables such as age, family size, fire frequency, and house value were...

This paper develops an analytical model able to represent the decisions of an individual risk averse farmer facing variability in both prices and yields. A comprehensive set of stylised risk reducing policy measures is represented. A calibration of the model is used to run Monte-Carlo...

The Dungeness is a popular food and the most commercially important crab in the western states in the U.S. Like all agricultural production, the crab fisherman face yield risks and must manage these risks. In addition to weather risk, crab fisherman may experience low yields if the crabs are...

This paper is based on an ongoing joint work with David Sahn and Xiaobo Zhang.