The purpose of this paper is to provide a specific test of Boucher, Carter et al. (2008) framework on risk rationing. The data were collected through a survey of 730 farm households in Shaanxi province conducted in November 2010. We compare factor associated with risk rationed, quantity rationed...

We forecast the economic consequences of a widespread contamination of the food system based on a hypothetical outbreak of foot-and-mouth disease (FMD). Since the immediate effect on the livestock sector could affect the entire supply chain and US livestock, meat and dairy exports, we measure...

This paper empirically estimates individual household credit demand elasticities based on 897 farm households surveyed in Shaanxi and Gansu provinces in the People's Republic of China (PRC) in October 2009. We used survey-based experimental techniques to extract individual household credit...

This paper shows how risk mitigation through export credit insurance could increase exports to high risk importing countries. The key result is that the export response curve is more inelastic in the presence of payment risk, and the effect of insurance is to make the export curve more elastic....

Long memory, and more precisely fractionally integration, has been put forward as an explanation for the persistence of shocks in a number of economic time series data as well as to reconcile misleading findings of unit roots in data that should be stationary. Recent evidence suggests that long...

This study uses results from marginal effects estimates across the foods and points of the food chain to rank the foods and food chain points in order of intensity of likelihood of a terrorist attack. The results show that young people, low incomers ($35,000), those with medium to low knowledge...

The sustainable growth paradigm is used to analyze aggregate output decisions across U.S. agricultural productions regions. Results show that the farm sector has adapted to positive or negative sustainable growth challenges (SGC) and that, from an equilibrium point of view, SGC countercyclical...

Asymmetric information in the form of moral hazard and adverse selection can result in sizeable efficiency losses and program costs for government provided crop insurance plans. We present a methodology and illustrative simulations to show how these two types of information problems interact in...

Default risk associated with forward contracts can be substantial, yet these financial instruments are widely used to hedge price risk. An objectively priced exit option on the forward contract would help reduce the likelihood of litigation associated with contract default. A method is proposed...