Consulta: creatorFacets:"Anderson,   Kim B."
Registros recuperados: 26
Data/hora: 02/06/2024 06:50:17

Optimal Length of Moving Average to Forecast Futures Basis
Provedor de dados: 31
Autores: Hatchett,   Robert B.; Brorsen,   B. Wade; Anderson,   Kim B.
The question addressed in this study is which length of historical moving average provides the best forecast of futures basis. Differences in observed forecast accuracy among the different moving averages are usually less than a cent per bushel, and most are not statistically significant. Further, the search for an optimal length of moving average may be futile since the optimal length depends on how much structural change has occurred. Our recommendation is to use moving averages when there has been no structural change and to use last year’s basis or an alternative approach if the forecaster perceives that a structural change has occurred.
Tipo: Journal Article
Palavras-chave: Basis forecast; Grain; Law of One Price; Moving averages; Structural change; Marketing.
Ano: 2010
URL: http://purl.umn.edu/61057

RISK MANAGEMENT PROGRAMS IN EXTENSION
Provedor de dados: 31
Autores: Anderson,   Kim B.; Mapp,   Harry P., Jr.
The evolution of Cooperative Extension Service techniques used to teach decision making in a risk environment is examined. Interviews of selected Cooperative Extension economists indicate that research methods used to evaluate and describe risk are more complex than those used in extension programs. Research is an essential component of the development and implementation of extension programs. Because most producers have some understanding of risk, and many use financial strategies to manage risk, and important product of risk research has been educating extension economists and researchers. When developing risk management programs, it is stressed that “"simplicity is powerful."”
Tipo: Journal Article
Palavras-chave: Risk and Uncertainty; Teaching/Communication/Extension/Profession.
Ano: 1996
URL: http://purl.umn.edu/31000

THE ECONOMICS OF CLEANING WINTER WHEAT FOR EXPORT: AN EVALUATION OF PROPOSED FEDERAL "CLEAN GRAIN" STANDARDS
Provedor de dados: 31
Autores: Adam,   Brian D.; Kenkel,   Philip L.; Anderson,   Kim B.
Buyer complaints about poor quality U.S. wheat have led to proposals to enforce minimum dockage standards for exports.  An economic-engineering approach is used to evaluate costs and benefits of cleaning wheat in order to meet these standards for 13 possible cleaning configurations.  These results are used in an optimization framework to estimate costs and benefits of cleaning all U.S. export wheat.  The estimates indicate that cleaning U.S. export winter wheat to .35% dockage would cost an average of 1 cent/bu., requiring an initial capital investment of $28 million.  Value of wheat lost in cleaning is a significant cost that previously has been overlooked.
Tipo: Journal Article
Palavras-chave: Agricultural and Food Policy.
Ano: 1994
URL: http://purl.umn.edu/30758

AGRICULTURAL ECONOMICS RESEARCH AND EXTENSION MARKETING PROGRAMS: HOW WELL ARE THEY INTEGRATED?
Provedor de dados: 31
Autores: Brorsen,   B. Wade; Anderson,   Kim B.
Extension marketing economists were surveyed to determine whether they are using available research results and whether research is being conducted on topics relevant to extension marketing economists.  In some cases, the beliefs of extension marketing economists differ from recent research results.  The research topics recommended by extension economists and the topics of papers presented at the 1994-97 annual NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management are well matched.  While relevant research is being done, many extension economists desire marketing strategies that both reduce risk and increase income.  Research, however, has not produced such strategies.
Tipo: Journal Article
Palavras-chave: Efficient markets; Extension; Farmer marketing; Outlook; Research; Risk; Teaching/Communication/Extension/Profession.
Ano: 1999
URL: http://purl.umn.edu/14726

IS THERE ANY REASON FOR GRAIN STORAGE AND PROCESSING FIRMS NOT TO ADOPT INTEGRATED PEST MANAGEMENT PRACTICES? THE ECONOMICS OF IPM IN STORED GRAIN
Provedor de dados: 31
Autores: Adam,   Brian D.; Mah,   Poh Mun; Phillips,   Thomas; Flinn,   Paul W.; Anderson,   Kim B.
Replaced with revised version of paper 07/20/04.
Tipo: Conference Paper or Presentation
Palavras-chave: Agribusiness.
Ano: 2004
URL: http://purl.umn.edu/20403

Price Risk Management Alternatives for Farmers in the Absence of Forward Contracts with Grain Merchants
Provedor de dados: 31
Autores: Mark,   Darrell R.; Brorsen,   B. Wade; Anderson,   Kim B.; Small,   Rebecca M.
Tipo: Journal Article
Palavras-chave: Crop Production/Industries; Risk and Uncertainty; G13; G20; Q13.
Ano: 2008
URL: http://purl.umn.edu/94647

Using Basis and Futures Prices as a Barometer in Deciding Whether to Store Grain or Not
Provedor de dados: 31
Autores: Siaplay,   Mounir; Anderson,   Kim B.; Brorsen,   B. Wade.
The purpose of this paper is to determine the importance of the strength and weakness of basis and futures prices as barometers for producers to use in deciding whether to store or not. Basis is the single most important market signal for wheat producers to use when deciding whether to store or sell their wheat at harvest. While some models indicated low futures prices were a signal to store, results were fragile and inconsistent.
Tipo: Conference Paper or Presentation
Palavras-chave: Basis; Futures; Storage; Wheat.
Ano: 2007
URL: http://purl.umn.edu/37575

CASH MARKETING STYLES AND PERFORMANCE PERSISTENCE OF WHEAT PRODUCERS
Provedor de dados: 31
Autores: Cunningham,   Lewis T., III; Brorsen,   B. Wade; Anderson,   Kim B.
Years of research have been dedicated to determining the best time for producers to sell their commodities. Researchers have developed basis models, market efficiency tests, hedging/risk models, price forecasting models, and many other models in an attempt to help producers. There is a vast amount of material on how economists believe that a rational producer should act and react in the market place. However, there is little research on how producers actually sell commodities. This paper first measures the extent to which producers display an active or mechanical marketing style using individual farmer sales. Next, tests of performance persistence are conducted to determine if there is any advantage to an active marketing style. The results show that...
Tipo: Conference Paper or Presentation
Palavras-chave: Crop Production/Industries; Marketing.
Ano: 2004
URL: http://purl.umn.edu/19031

EXPLAINING DIFFERENCES IN PRICES RECEIVED BY FARMERS: TESTING THEORY BASED ON ACTUAL FARMER TRANSACTIONS
Provedor de dados: 31
Autores: Cunningham,   Lewis T., III; Brorsen,   B. Wade; Anderson,   Kim B.
There has been considerable normative research about how farmers should make marketing decisions, but little positive research on what farmers really do.  Regressions of gender, total volume, timing, and frequency of sales on the average weighted price received are used to test hypotheses regarding gender differences, myopic loss aversion, economies of size, and market efficiency.
Tipo: Conference Paper or Presentation
Palavras-chave: Marketing.
Ano: 2004
URL: http://purl.umn.edu/20275

Determining Returns to Storage: Does Data Aggregation Matter
Provedor de dados: 31
Autores: Klumpp,   Joni M.; Brorsen,   B. Wade; Anderson,   Kim B.
Aggregate data are commonly used to determine returns to storage.  However, recent studies have shown that aggregating data may lead to underestimated returns.  This article compares aggregate and elevator data from Oklahoma to determine if aggregate data underestimate returns.  We find no difference between the mean returns estimated with aggregate data and the mean returns estimated with transaction level data from grain elevators in Oklahoma.
Tipo: Journal Article
Palavras-chave: Aggregate data; Data collection; Information loss; Returns to storage; Agribusiness; Q13.
Ano: 2007
URL: http://purl.umn.edu/6060

Profit Margin Hedging
Provedor de dados: 31
Autores: Kim,   Hyun Seok; Brorsen,   B. Wade; Anderson,   Kim B.
Some extension economists and others often recommend profit margin hedging in choosing the timing of crop sales. This paper determines producer’s utility function and price processes where profit margin hedging is optimal. Profit margin hedging is shown to be an optimal strategy under a highly restricted target utility function even in an efficient market. Although profit margin hedging is not the optimal rule in the presence of mean reversion, it can still be profitable if prices are mean reverting. Simulations are also conducted to compare the expected utility of profit margin hedging strategy with the expected utility of other strategy such as always hedging and selling at harvest strategies. A variance ratio test is conducted to test for the existence...
Tipo: Conference Paper or Presentation
Palavras-chave: Expected utility; Mean reversion; Profit margin hedging; Target.
Ano: 2007
URL: http://purl.umn.edu/37570

A DRY MATTER QUALITY APPROACH TO PLANNING FORAGE-BEEF SYSTEMS
Provedor de dados: 31
Autores: Anderson,   Kim B.; Walker,   Odell L.
Tipo: Journal Article
Palavras-chave: Livestock Production/Industries.
Ano: 1977
URL: http://purl.umn.edu/29303

WHOLE FARM RISK-RATING MICROCOMPUTER MODEL
Provedor de dados: 31
Autores: Anderson,   Kim B.; Ikerd,   John E.
The Risk-Rating Model is designed to give extension specialists, teachers, and producers a method to analyze production, marketing, and financial risks.  These risks may be analyzed either individually or simultaneously.  The risk associated with each enterprise, for all combinations of enterprises, and for any combination of marketing strategies is estimated.  Optimistic, expected, and pessimistic returns above variable cost and/or total cost are presented in the results.  The probability that total return will be equal to or greater than variable cost and/or total cost is also estimated.
Tipo: Journal Article
Palavras-chave: Farm Management; Risk and Uncertainty.
Ano: 1985
URL: http://purl.umn.edu/29372

Determining Returns to Storage:  USDA Data versus Micro Level Data
Provedor de dados: 31
Autores: Klumpp,   Joni M.; Brorsen,   B. Wade; Anderson,   Kim B.
USDA data are commonly used to determine producers' returns to storage.  Aggregating data may result in a loss of information, leading to underestimated returns.  This study compares USDA and elevator data from Oklahoma to determine how much USDA data underestimates returns.  Results indicate USDA data only slightly underestimate returns to storage.
Tipo: Conference Paper or Presentation
Palavras-chave: Research Methods/ Statistical Methods.
Ano: 2005
URL: http://purl.umn.edu/19523

A BLUEPRINT FOR DESIGNING A SUCCESSFUL EXTENSION PROGRAM: ADVICE FROM SOME MASTER BUILDERS
Provedor de dados: 31
Autores: Anderson,   Kim B.
Tipo: Journal Article
Palavras-chave: Teaching/Communication/Extension/Profession.
Ano: 1982
URL: http://purl.umn.edu/29586

Liquidity Costs in Futures Options Markets
Provedor de dados: 31
Autores: Shah,   Samarth; Brorsen,   B. Wade; Anderson,   Kim B.
The major finding is that liquidity costs in futures options market are two to three times higher than liquidity costs in the futures market. Liquidity cost is one potential factor to consider when choosing between hedging with a futures contract or with an option contract. While there is considerable research that estimates liquidity costs of futures trading, there is little comparable research about options markets. This study, for the first time, attempts to determine and compare liquidity costs in options and futures markets. The study uses July 2007 wheat futures and options contracts traded on Kansas City Board of Trade. Two measures of liquidity costs were used for both options and futures markets. One measure of liquidity costs in options markets...
Tipo: Conference Paper or Presentation
Palavras-chave: Bid-ask spread; Black model; KCBT; Liquidity costs; Options; Agribusiness; Agricultural Finance; Financial Economics; Risk and Uncertainty.
Ano: 2009
URL: http://purl.umn.edu/53047

AN EVALUATION OF FEEDER CATTLE GRADING STANDARDS
Provedor de dados: 31
Autores: Anderson,   Kim B.
Tipo: Journal Article
Palavras-chave: Livestock Production/Industries.
Ano: 1980
URL: http://purl.umn.edu/29478

Optimal Length of Moving Average to Forecast Futures Basis
Provedor de dados: 31
Autores: Hatchett,   Robert B.; Brorsen,   B. Wade; Anderson,   Kim B.
Futures prices when combined with a basis forecast provide a reliable way to forecast cash prices. The most popular method of forecasting basis is historical moving averages. Given the recent failure of longer moving averages proposed by previous studies, this research reassesses past recommendations about the best length of moving average to use in forecasting basis. This research compares practical preharvest and storage period basis forecasts for hard wheat, soft wheat, corn and soybeans to identify the optimal amount of historical information to include in moving average forecasts. Only with preharvest hard wheat forecasts are the best moving averages longer than 3 years. The differences in forecast accuracy among the different moving averages are...
Tipo: Conference Paper or Presentation
Palavras-chave: Basis forecast; Grain; Law of One Price; Moving averages; Structural change; Agribusiness; Agricultural and Food Policy; Agricultural Finance; Crop Production/Industries; Farm Management; Financial Economics; Marketing; Research Methods/ Statistical Methods; Risk and Uncertainty.
Ano: 2009
URL: http://purl.umn.edu/53048

Implications of Behavioral Finance for Farmer Marketing Strategy Recommendation
Provedor de dados: 31
Autores: Brorsen,   B. Wade; Anderson,   Kim B.
Behavioral finance is a relatively new field of inquiry that may help better understand farmer marketing. The theory argues that people tend to make certain psychological biases that cause them to not be fully rational in an economic sense. For example, people tend to be about twice as upset about a loss as they would be happy about a gain of the same size. The theory can help explain why producers would pay a marketing consultant even when markets are efficient. Extension programs need to consider the psychology of marketing. The theory suggests that decisions need to be framed in terms of their effect on the whole farm operation and in terms of profits over a series of years.
Tipo: Conference Paper or Presentation
Palavras-chave: Agricultural Finance; Marketing.
Ano: 2001
URL: http://purl.umn.edu/18952

Cash Wheat Marketing: Strategies for Real People
Provedor de dados: 31
Autores: Brorsen,   B. Wade; Anderson,   Kim B.
A new paradigm is needed in extension marketing programs. Attempts to help producers time the market, either through cask sales or futures trading, appear to be of little benefit. Marketing extension programs need to place less emphasis on outlook and futures trading and more emphasis on simple marketing strategies that people really use. An empirical example of strategies for Oklahoma wheat producers shows selling cash wheat at harvest and participating in government programs as the preferred marketing strategy.  Implications for extension programs in other states are that extension programs can help producers decide whether to store their grain and whether to participate in farm programs.
Tipo: Journal Article
Palavras-chave: Economics; Efficient markets; Extension; Forward contracts; Hedging; Price analysis; Risk; Stochastic dominance; Agribusiness; Crop Production/Industries; Marketing.
Ano: 1994
URL: http://purl.umn.edu/62351

ACTUAL FARMER MARKET TIMING
Provedor de dados: 31
Autores: Brorsen,   B. Wade; Anderson,   Kim B.
One maxim that has been circulating among farmers is that most farmers sell in the lower third of the market. This maxim is soundly rejected using data from Oklahoma elevators. In fact, roughly half of producers sell in the upper third of the market. Thus, there does not seem to be a great need for producers to hire a market advisor to do their marketing for them. But, some farmers do store longer than is optimal and they could be encouraged to sell sooner after harvest. In the short run, farmers sold after price increases and held after price decreases. Price movements in the days after a large number of sales were no different than price movements after few sales. While farmers are noise traders in the short run, it does appear that they are responding...
Tipo: Conference Paper or Presentation
Palavras-chave: Marketing.
Ano: 2002
URL: http://purl.umn.edu/19065

A USER-ORIENTED MODEL FOR INCORPORATING RISK INTO SHORT-RUN DECISIONS
Provedor de dados: 31
Autores: Anderson,   Kim B.; Holt,   John.
Tipo: Journal Article
Palavras-chave: Risk and Uncertainty.
Ano: 1977
URL: http://purl.umn.edu/30532

Analysis of Revenue Assurance Proposals
Provedor de dados: 31
Autores: Dicks,   Michael R.; Anderson,   Kim B.
Tipo: Journal Article
Palavras-chave: Financial Economics.
Ano: 2007
URL: http://purl.umn.edu/92860

The Impact of Marketing Strategy Information on the Producer's Selling Decision
Provedor de dados: 31
Autores: Klumpp,   Joni M.; Brorsen,   B. Wade; Anderson,   Kim B.
There is no shortage of studies regarding price forecasting and marketing strategies of producers.  However, the majority of these studies take a normative approach, focusing on deriving an optimal strategy for producers to follow based on information received from producer surveys.  Due to such things as psychological biases, producers may not actually use the marketing information that they say they do.  This study uses actual producer transaction data to determine how producers marketing decisions correspond with those recommended by market advisory services and with those that use futures spreads to calculate expected returns.  The results show that producers do respond to using futures spreads to represent expected returns to storage.  Also, it...
Tipo: Conference Paper or Presentation
Palavras-chave: Marketing.
Ano: 2005
URL: http://purl.umn.edu/19036

THE EFFECT OF ROUNDING ON THE PROBABILITY DISTRIBUTION OF REGRADING IN THE U.S. PEANUT INDUSTRY
Provedor de dados: 31
Autores: Diaz,   Edgar F. Pebe; Brorsen,   B. Wade; Anderson,   Kim B.; Richter,   Francisca G.-C.; Kenkel,   Philip L.
This article determines the effect of rounding (pointing-off) of grade percentages to the nearest whole number on the probability distribution of regrading in the peanut industry. Results show that rounding causes graders to have to regrade an extra 4% of samples even when they follow all directions and make no mistakes.  When rounding was not used, the sample weight had little effect on the probability of regrading. With rounding, the probability of regrading was reduced by beginning with a larger than 500-gram sample. Thus, rounding provides an incentive to take overweight samples in order to avoid regrading. Overweight samples can overestimate the value of peanuts. A low-cost way to improve peanut grading accuracy would be to round to tenths rather than...
Tipo: Journal Article
Palavras-chave: Grading; Normal-jump distribution; Peanuts; Regrading; Rounding; Crop Production/Industries.
Ano: 2002
URL: http://purl.umn.edu/14652

The Preference for Round Number Prices
Provedor de dados: 31
Autores: Klumpp,   Joni M.; Brorsen,   B. Wade; Anderson,   Kim B.
This study determines if a preference for round prices exists in the wheat market and how wheat sales react to price movements around whole dollar amounts.  The results show round prices are slightly more prevalent than non-round prices and that transactions increase when price moves above a whole dollar amount.
Tipo: Conference Paper or Presentation
Palavras-chave: Demand and Price Analysis.
Ano: 2005
URL: http://purl.umn.edu/35537