Existing microeconomic studies of quota-regulated markets have emphasized the short-run effects of market disturbances. This paper considers the long-run market equilibrium impacts of changes in technology, in input prices and in the distribution of output price when risk averse firms may freely...

abstract not available at this time

Many deficiencies in the capacity of a food system to deliver safe products are systemic in nature. We suggest a taxonomy of four general ways in which a systemic failure might occur. One relates to the connectedness, or topology, of the system. Another arises from mistrust on the part of...

The use of organophosphate insecticides in apple production has become of regulatory concern since the Food Quality Protection Act passed into law in 1996. Through an expert opinion survey, we assess the economic impact of possible regulatory scenarios on the apple industry. Because experts are...

Welfare in a two-product Cournot oligopoly is shown to increase (decrease) with an increase in correlation between unit costs when the outputs complement (substitute) in demand. A more qualified correlation structure is required for the result to apply in a three-product Cournot oligopoly when...

Genetic engineering technologies that better align crop seeds with field crop product demands and with other crop inputs are rapidly entering commercial markets. Central to the success of these new technologies are corporate strategies on product market segmentation and input interactions. Input...

Food system regulators often decide whether to ban existing practices or approve new technologies without conclusive scientific evidence on possible damage and knowing that resolution is likely in the future. In a model with three decision points and stochastic resolution of uncertainty, we...

This research studies the role of multivariate distribution structure on random asset returns in determining the optimal allocation vector for an expected utility maximizing agent. By carefully disturbing symmetry in the distribution of the, possibly covarying, returns, we ascertain the ordinal...

For a homogeneous good, this article studies firm-level production activities when the firm controls a plural number of plants. Through careful construction of cost function technology asymmetries, we inquire into the ordinal structure of the production vector for multiplant cost minimizers....

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