Laboratory experiments are used to generate data that facilitate investigation of pricing behavior in forward and spot markets. Results suggest a tendency for prices in a spot market to converge to levels higher than those in a forward market. The difference in these market environments is the...

This study compares the structure of E, V frontiers under several specifications of expected income and variance parameters with emphasis on fundamental differences in efficient crop mixes. The results are generated using data from a specific production region and a selected set of cropping...

Laboratory methods are used to investigate the impacts of supply and demand risks in a forward market on prices, quantities traded, and earnings when the choice of transacting in a forward or spot market is endogenous. Forward market activity dominates spot trading, with 80-90% of the trades...

The comment indicated that landed wealth (acres owned) should be included as an explanatory variable in the zoning referendum estimation. Land can be constructed as an indicator of wealth that may be impacted by land use controls. The reply focuses on study site issues as well as theoretic,...

The objective of this study is to estimate demand parameters for beef, pork, and chicken using budget share equations derived from the translog indirect form of the utility function for the period 1965-81. Estimates of uncompensated direct and cross price elasticities, expenditure and income...