Strategic trade in international markets is important for agricultural and other basic commodities. State trading companies (STCs) and large private firms control most of the trade volume. In this study the authors use concepts of modern game theory to treat time inconsistency issues associated...

Soil erosion as an on-site problem received much attention in the 1985 Food Security Act (FSA), which established programs for the Conservation Reserve and conservation compliance. The 1985 FSA explicitly linked farmers' resource use and conservation activities to benefits received from...

Policy reforms that increase the roles of markets in agriculture and related institutional changes are occurring worldwide and are accompanied by rapid technical change. With the evolving role of government, new institutions are emerging for shaping the strategic behavior of public and private...

Environmental and health risk concerns associated with the use of agricultural chemicals in the United States are increasing. In response, public policies designed to alter farming practices and the use of agricultural chemicals are being proposed and implemented. In addition, agricultural price...

A method for estimating bounded price variation models with rational expectations which incorporates all information implied by rationality is applied to a model of the U.S. corn market. The results indicate that the estimated model performs at least as well as a traditional equilibrium model...

Price expectations are an integral part of agricultural decision making. Despite recognition of this fact, few changes have been made during the past two decades in the way price expectations appear in agricultural models. For example, the majority of existing supply response studies has assumed...

The objective of this study was to explore a new method of analyzing the performance of substate economies. A major limitation of conventional analyses of economic diversity and growth is the reliance on static measures of economic structure. Such measures do not capture the patterns of growth...

The outlook for international agricultural commodity markets is very sensitive to changes in macroeconomic conditions, rates of productivity growth, and government policies. Baseline projections prepared by the Food and Agricultural Policy Research Institute in March 1988 assume moderate rates...

Large-scale modeling systems have long been viewed as potentially valuable tools for evaluating farm policy. They have received increased attention in recent years, in part because of the added complexity of U.S. farm programs and the fuller integration of the U.S. farm sector with nonfarm...

The costs of shortages and rationing are not captured by standard consumer price indices. In this study, the authors use the virtual prices for the rationed goods to calculate a new cost-of-living index (CLI). The results for Poland show that from 1987 to 1992 the CLI that ignores the rationing...