This paper analyzes the challenges and opportunities for agricultural marketing cooperatives in value-added, quality-differentiated markets. Product quality in all of its dimensions is critical in modern food markets, but various traditional cooperative business practices are not conducive to...

The speculative bubble phenomenon has been studied extensively by economists and psychologists in recent years. The recent literature is surveyed and extended to enhance the understanding of speculative bubbles in agricultural industries. The analysis is applied to the U.S. alpaca industry,...

We analyze the impacts of minimum quality standards (MQS) imposed by producers acting collectively through a producer organization, such as a marketing order. MQS imposed in a competitive market can never enhance social welfare because in general an MQS creates two deadweight losses--one due to...

The speculative bubble phenomenon has been studied extensively by economists and psychologists in recent years. The recent literature is surveyed and extended to enhance the understanding of speculative bubbles in agricultural industries. The analysis is applied to the U.S. alpaca industry,...

Among other functions, federal marketing orders allow producers to impose quality regulations and inspections, and, under the section 8e provision, require imports to be subject to the same quality standards and regulations as the domestic industry. As efforts to liberalize trade continue apace,...

This paper summarizes and evaluates recent research on food product quality and differentiation, both key dimensions of modern food markets. We emphasize the implications for modeling of violation of the product homogeneity and perfect information axioms of perfect competition and focus on...