A dynamic three-commodity rational-expectations storage model is used to compare the impact of the Federal Agricultural Improvement and Reform (FAIR) Act of 1996 with a free-market policy, and with pre-FAIR policies. Results suggest that FAIR did not lead to significant increases in long-run...

Abstract Currently Unavailable.

Presents the findings of studies conducted on agriculture which shows a monotonic relationship between output and the level of risk or of risk aversion. Details on the competitiveness of the agriculture sector; Information on the production cycle; Reference to the use of forward or futures...

Welfare tradeoffs between intellectual property (IP) protections provided by patents and by plant variety protection (PVP) are explored. PVP breeders' exemption weakens IP protection, but may speed the transfer of research gains across firms. A model is developed assuming firms optimize research...

The material contained herein is supplementary to the article named in the title and published in the American Journal of Agricultural Economics, Volume 90, Number 1, February 2008

This study develops a method to estimate the probability density function of the Federal Risk Management Agency’s (RMA’s) net income from reinsuring crop insurance for corn, wheat, and soybeans. When calibrated using 1997 data, results from the advocated method show that in 1997 there was a...

This study estimates the probability density function of the government’s net income from reinsuring crop insurance for corn, wheat, and soybeans. Based on 1997 data, it is estimated there is a 5% probability that the government will need to reimburse at least $1 billion to insurance...

The world food crisis, exacerbated by accelerating climate change and the global financial crisis, requires that agricultural scientists solve ever more complex problems. Public–private partnerships will play a more critical role in developing agricultural technologies for developing nations...