High corn prices cause farmers to plant more corn on fields that were planted to corn in the previous year, rather than alternating between corn and soybeans. Cultivating corn after corn requires greater nitrogen fertilizer and some of this nitrogen flows into waterways and causes environmental...

The share of raw milk meeting fluid quality (Grade A) standards in the United States rose steadily through the latter half of the twentieth century, but a shrinking portion of that was used in fluid products. Grade A milk exceeds the quality standards for the manufactured products for which it...

We test the efficiency of the California electricity reserves market by examining systematic differences between its day- and hour-ahead prices. We uncover significant day-ahead premia, which we attribute to market design characteristics. On the demand side, the market design established a...