This study presents a procedure to estimate expenditure and price elasticities of food commodities from cross-sectional data. There are two problems with the use of cross-sectional data: First, priceinformation is not sufficient in these data. To derive “adjusted prices” from cross-sectional...

This study was conducted to analyze the direct and indirect effects of ethanol policy on livestock production. Results of the theoretical model indicate the possibility of ethanol policy indirectly affecting livestock production. Econometric results show a possibility of ethanol policy...

In this paper, using pseudo panel data we analyze the relation between cigarette and alcoholic beverage consumption within the rational addiction framework. We believe that pseudo panel data approach has many advantages compared to aggregate and panel data models. We found that alcoholic...

This study investigated the magnitude of forecast improvements resulting from correction of inefficiencies in USDA cotton forecasts over 1999/00 to 2008/09 marketing years. The aspects of forecast performance included in this study were 1) bias and trends in bias, 2) correlation between forecast...

This manuscript studies the market conduct of the milk manufacturers and retail chains in a Midwestern state in the U.S. Following the menu approach we employ a random coefficient logit demand model to investigate several possible scenarios on the supply side. Demand estimates are obtained using...

Replaced with revised version of paper 04/13/11.

This study uses quantile regressions to estimate historical forecast error distributions forWASDE forecasts of corn, soybean, and wheat prices, and then compute confidencelimits for the forecasts based on the empirical distributions. Quantile regressions with fiterrors expressed as a function of...

Stated choice experiments about ecosystem changes involve complex information. Thisstudy examines whether the format in which ecosystem information is presented torespondents affects stated choice outcomes. Our analysis develops a utility-maximizingmodel to describe respondent behavior. The...

The main goal of this manuscript is to explore the retailer conduct in the milk market in a U.S. Midwestern city, based upon a structural estimation of consumer milk demand and retailer optimality conditions. To model milk demand we rely upon the Almost Ideal Demand System, while allowing the...

This article tests the efficiency of the hog options market and assesses the impact of the 1996 contract redesign on efficiency. We find that the hog options market is efficient, but some options yielded excess returns during the live hogs period but not during the lean hogs period. Our findings...