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This paper analyzes the effects of waterway transportation costs on the spatial distribution of corn prices at U.S. grain markets. Interregional trade theory predicts that in a competitive market price differences between markets are explained by transportation cost. The precise role played by...
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We consider a political economy where government cares about risk-averse farmers’ loss of income and yet incurs political cost if it provides monetary support to farmers. Government evaluates three options: 1) ex-post disaster aid; 2) ex-ante insurance option with perfect information; 3)...
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Doubling food production by 2050 under conditions of climate change and depleted natural resources requires increased investment and creative approaches. The Water-Efficient Maize for Africa (WEMA) project, a five-year public–private partnership begun in 2008 and led by the African...
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