The paper analyses the risk minimizing dual hedge in price and yield futures in the presence of price and yield risks. The results show that a risk minimizing farmer can reduce its variance of revenue by hedging in both markets rather than just using the price futures. The empirical results for...

In this article we look for empirical evidence of hold-up in broiler industry production contracts by using the cross-sectional national survey of broiler growers. First, we focus on the problem of under-investment and hypothesize that the degree of agent's (grower's) under-investment...

In this paper we study the productivity-survival link in the U.S. poultry processing industry using the longitudinal data constructed from five Censuses of Manufactures between 1987 and 2007. First, we study the effects of physical productivity and demand-specific factors on plant survival and...

We examine the relationship between a tree price and a tree age (height) using a Hotelling-Faustmann model of optimal plantation management, which accounts for the possibility of replanting and biological growth. The model's predictions are tested using the data on Christmas tree prices in North...