The twin problems of moral hazard and adverse selection are often blamed for the lack of insurance for many fruits and vegetables. This paper develops an alternative method of testing for adverse selection that uses a two-stage approach to determine the effects of technical inefficiency on the...

This study investigates the use of hedonic pricing to identify the value of relevant production and type traits for dairy bulls in Alberta. A hedonic pricing model is estimated that models semen price as a function of individual production and longevity characteristics for a sample of Holstein...

Many believe that fast food promotion is a significant cause of the obesity epidemic in North America. Industry members argue that promotion only reallocates brand shares and does not increase overall demand. This study weighs into the debate by specifying and estimating a discrete/continuous...

This study investigates the relationships between farm size, milk yield, cost of production, and technical efficiency in the Alberta dairy industry. Estimates of a stochastic production frontier are obtained with two alternative methods; an iterative "average frontier: (AF) procedure and a...

Dairy production at the farm-level is undergoing a rapid transformation in preparation for more open competition in the future. However, the means by which dairy farms can best improve their economic performance is of some question. Using measures of allocative, technical, and overall efficiency...

The market for insuring insect damage is far from complete. This study introduces a new type of derivative instrument-insect derivatives-that provide growers a market-based means of transferring insect risk to speculators or others who may profit from higher insect populations. A risk-neutral...

Numerical simulation of several typical risk management strategies using pro forma financial statements from representative U.S. dairy cooperatives shows that combinations of forwards, swaps, and cash marketing strategies for output (cheese), along with various forward contracts offered to...