If agricultural output results from non-separable multiproduct technologies, environmental regulation can change the set of possible output combinations. This will be important when regulation affects the quality composition of a crop. As a result, market and welfare changes have to be assessed...

Expected prices for storable commodities often lie below spot prices plus interest and marginal storage charges. Recently this gap has been explained as the value of a call option held by a representative storer whenever a positive probability exists that stocks could dwindle to zero. However,...

The impact pre-harvest hedging and crop insurance strategies have on expected revenue and associated risk as well as how producers' risk attitudes affect optimal strategies was analyzed for Kansas wheat farms. No insurance, Catastrophic (CAT), Actual Production History (APH), and Crop Revenue...

Annual seasonal advertising expenditure allocations were estimated for the national generic advertising programs for fluid milk and cheese with the use of price and advertising elasticities of demand that varied over time. Significant variation in optimal allocations existed both across products...

This paper examines the price discovery function for three U.S. wheat futures markets: the Chicago Board of Trade, Kansas City Board of Trade, and Minneapolis Grain Exchange. The maintained hypothesis is that futures markets search more for information than cash markets to find an equilibrium...