Our purpose in this paper is to highlight the role of organizational structure and incentives in the design of contracts between buyers and sellers of agricultural products. In particular, we consider how differences between investor-owned (IOF) and producer-oriented (POF) firms, and differences...

According to the conventional wisdom, a revolving door operates between government and industry. High ranking government officials leave office and head for Washington law firms or major corporations where they use their connections and influence to further their new employers' political...

In 1986, California passed legislation restricting the direct importation of wine from another state by California residents unless the originating state allowed direct shipment from California wineries to residents in that state. The result has been a patchwork of direct shipment regulations...

In 1986, California passed legislation prohibiting the direct shipment of wine to its residents from another state unless the originating state allows California wineries to ship directly to that state's residents. The legislation's obvious intent was to break down other states' barriers to the...

Organizational and contract economics have achieved an increasingly important role in analyses of the food, agribusiness, and agricultural sectors. In particular, formal theoretical models of contract design and firm integration have begun to appear in the leading agricultural economics...

In 1986, the State of California passed legislation restricting the direct importation of wine from another state by California residents unless the originating state allowed the reciprocal privilege of direct shipment from California wineries to residents in that state. This proved to be the...

We examine how organizational characteristics of producer-owned firms affect the level of perceived trust among cooperative members, using survey data from a sample of U.S. agricultural cooperatives. Our results indicate trust is correlated with property right and organizational structures...

New Institutional Economics is characterized by its real-word orientation and empirical focus. Nowhere is this broader scope more evident than in microeconomic theories of firms and markets. NIE has led researchers not only to crack open the black box of production known as the firm, but also...

Despite the dramatic change in the organization of the US hog industry over the past two decades, the existing literature offers little insight into the decision by pork packers to use long-term marketing contracts, which represent the dominant form of hog procurement transactions. Existing...