Number of suppliers, approximation of equal-shares market condition and market share held by in-state sources were calculated to determine diversity of sources for 10 fresh fruits and vegetables in eight U.S. wholesale markets. Specificity of growing conditions is associated with few supply...

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Abstract Currently Unavailable.

This paper analyzes production, hedging, and speculative decisions when both futures and options can be used in an expected utility model of price and basis uncertainty. When futures and option prices are unbiased, optimal hedging requires only futures (options are redundant). Options are used...

The deregulation of railroads by the Staggers Rail Act of 1980 reversed nearly a century of prohibition of contracts between railroads and shippers/receivers. This paper presents an analysis of the impact that railroad contracts have on grain bids to corn, wheat, and soybean farmers. The...

A hypothesis that hedging will not be an important factor for risk-averse investors when uncertainty is caused by futures prices and when basis risk is not associated with futures price is defended. Under a condition of constant absolute risk aversion (CARA), increments in futures prices will...

The local rural road and bridge system is under physical stress from heavy and wide farm vehicle travel. It is also under financial stress from the prospect of declining revenues for maintaining and rebuilding the system. There are significant research opportunities for agricultural economists...

A discrete-time dynamic hedging problem is solved under expected utility maximization and basis risk without imposing a particular parametric form for utility, nor assuming normally distributed cash and futures prices. The solution is valid for any increasing and strictly concave utility...