Simulations suggest that soybeans with less protein and more oil would alter quality and change quantities on the market. Substitution toward other protein feeds, like fishmeal, would mitigate the benefits from restricted soymeal supply. Thus, there would not be a net welfare gain for the United...

Programming models approximate market prices and quantities when regulations constrain firm choices, because market outcomes result when welfare is appropriately defined and includes performance and environmental constraints. This study discusses market operation in quality-constrained sectors,...

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An indicator of competitive position, the cost difference between ethanol import from Brazil with sugar processing and domestic production with corn in the United States under ideal conditions without tariffs in the ethanol market, is developed conceptually. An ex ante version of the indicator...