Consulta: creatorFacets:"Hanson,   Steven D."
Registros recuperados: 22
Data/hora: 05/06/2024 03:40:05

IMPACTS OF SOCIAL CAPITAL ON INVESTMENT BEHAVIOR UNDER RISK
Provedor de dados: 31
Autores: Hanson,   Steven D.; Robison,   Lindon J.
Implicit in most applications of the expected utility (EU) model is the assumption that only the decision maker's own income matters.  Moreover, studies that estimate risk preferences typically measure how individuals respond to changes in the level and likelihood of having their own income altered (Young).  The focus on own income in the EU model is consistent with the assumption most often applied in the neoclassical economic paradigm; namely, that the identity of participants in an economic exchange does not affect the outcome (Telser and Higinbotham).
Tipo: Working or Discussion Paper
Palavras-chave: Institutional and Behavioral Economics; Risk and Uncertainty.
Ano: 2001
URL: http://purl.umn.edu/11533

DIVERSITY OF SOURCES FOR FRESH PRODUCE: IMPLICATIONS FOR LOCAL MARKETS
Provedor de dados: 31
Autores: Lohr,   Luanne; Hanson,   Steven D.
Number of suppliers, approximation of equal-shares market condition and market share held by in-state sources were calculated to determine diversity of sources for 10 fresh fruits and vegetables in eight U.S. wholesale markets. Specificity of growing conditions is associated with few supply sources, unequal market shares and limited purchases from in-state suppliers. For crops with few sources, lower perishability and greater transportability are correlated with greater balance in market shares. For crops with many supply sources, greater perishability and greater transportability are consistent with large market share from imports. Diversity across all commodities can increase market share for local producers.
Tipo: Journal Article
Palavras-chave: Concentration index; Fruits and vegetables; Source diversity; Marketing.
Ano: 1995
URL: http://purl.umn.edu/15274

2002 MICHIGAN LAND VALUES
Provedor de dados: 31
Autores: Hanson,   Steven D.; Schwab,   Gerald D.
Tipo: Working or Discussion Paper
Palavras-chave: Land Economics/Use.
Ano: 2003
URL: http://purl.umn.edu/10935

Optimal On-Farm Grain Storage by Risk-Averse Farmers
Provedor de dados: 31
Autores: Lai,   Jing-Yi; Myers,   Robert J.; Hanson,   Steven D.
Most previous research on post-harvest grain storage by farmers has assumed risk-neutral behavior and/or made restrictive assumptions about underlying price probability distributions. In this study, we solve the optimal on-farm storage problem for a risk-averse farmer under more general assumptions about underlying price distributions. The resulting model is applied to Michigan corn farmers and findings show, contrary to the "sell all or nothing" risk-neutral rule, risk-averse farmers will spread sales out over the storage season. As farmers become more risk averse, the optimal strategy is to sell more grain at harvest and spread sales over the storage season, even though this practice reduces expected return. This result is more consistent with observed...
Tipo: Journal Article
Palavras-chave: Grain storage; Risk aversion; Stochastic dynamic programming; Agribusiness.
Ano: 2003
URL: http://purl.umn.edu/31063

HEDGING WITH FUTURES AND OPTIONS UNDER A TRUNCATED CASH PRICE DISTRIBUTION
Provedor de dados: 31
Autores: Hanson,   Steven D.; Myers,   Robert J.; Hilker,   James H.
Many agricultural producers face cash price distributions that are effectively truncated at a lower limit through participation in farm programs designed to support farm prices and incomes. For example, the 1996 Federal Agricultural Improvement Act (FAIR) makes many producers eligible to obtain marketing loans which truncate their cash price realization at the loan rate, while allowing market prices to freely equilibrate supply and demand. This paper studies the effects of truncated cash price distributions on the optimal use of futures and options. The results show that truncation in the cash price distribution facing an individual producer provides incentives to trade options as well as futures. We derive optimal futures and options trading rules under...
Tipo: Journal Article
Palavras-chave: Farm programs; Futures; Hedging; Options; Truncation; Marketing.
Ano: 1999
URL: http://purl.umn.edu/15152

SOCIAL CAPITAL AND RISK RESPONSES
Provedor de dados: 31
Autores: Robison,   Lindon J.; Hanson,   Steven D.
The economic well-being of economic agents is assumed to be interpersonally dependent.  The extent of this interpersonal dependency varies according to the strength of relationships, values, and social bonds and is measured using social capital coefficients in a neoclassical model in which agents with stable preferences maximize utility.  The model's predictions are tested empirically by asking agents how their willingness to bear a risk is altered when their refusal to accept the risk increases the risk faced by others.
Tipo: Working or Discussion Paper
Palavras-chave: Institutional and Behavioral Economics; Risk and Uncertainty.
Ano: 1996
URL: http://purl.umn.edu/11504

ANALYSIS OF ALTERNATIVE PAYMENT DESIGNS FOR FARMLAND DEVELOPMENT RIGHTS
Provedor de dados: 31
Autores: Hanson,   Steven D.
Four alternative payment rules were examined to evaluate their ability to accomplish the objectives of the development rights purchase program.  Paying the true economic value for the development rights does not allow the program to target high quality agricultural land. Modifying the payment strategy by offering a minimum payment will provide some extra incentive for high quality agricultural land in areas with little development pressure, but will provide little help in areas with high development pressure. Indexing the payment to a representative agricultural-use value for an area will provide premiums to high quality agricultural land and discounts to low quality agricultural land which provides additional incentives (disincentives) for high (low)...
Tipo: Working or Discussion Paper
Palavras-chave: Land Economics/Use.
Ano: 1999
URL: http://purl.umn.edu/11540

1999 MICHIGAN LAND VALUES
Provedor de dados: 31
Autores: Hanson,   Steven D.; Schwab,   Gerald D.
Tipo: Working or Discussion Paper
Palavras-chave: Land Economics/Use.
Ano: 1999
URL: http://purl.umn.edu/10933

SOCIAL CAPITAL AND ECONOMIC COOPERATION
Provedor de dados: 31
Autores: Robison,   Lindon J.; Hanson,   Steven D.
The socioeconomic movement is an effort to better explain human behavior by combining insights of economists and sociologists.  This paper contributes to the socioeconomic literature by including the influence of relationships, values, and social bonds in the neoclassical economic model by introducing social capital coefficients.  The usefulness of the resulting social capital model is demonstrated theoretically in a two-firm cooperative model and tested empirically using data from a survey of students who allocate their time between individual and joint projects.
Tipo: Journal Article
Palavras-chave: Social capital; Social capital coefficients; Total revenue-equity frontier; Institutional and Behavioral Economics.
Ano: 1995
URL: http://purl.umn.edu/15356

DYNAMIC RISK MANAGEMENT UNDER CREDIT CONSTRAINTS
Provedor de dados: 31
Autores: Nyambane,   Gerald G.; Hanson,   Steven D.; Myers,   Robert J.; Black,   J. Roy.
The vast majority of previous studies on farmers' optimal risk management behavior have used static models and on the most part ignored use of borrowing and lending as an alternative method of managing risk In this paper we develop a stylized multi-period risk management model for a risk averse farmer who can use revenue insurance to manage risk and also borrow and lend subject to a credit constraint. The model is applied to an example farm from Adair County in Iowa and the results provide three important messages. First, contrary to the full coverage of actuarially fair insurance result expected from using purely static analysis, at low revenues, insurance coverage may not be taken in the absence of debt. Second, if debt is available, full coverage will...
Tipo: Conference Paper or Presentation
Palavras-chave: Risk and Uncertainty.
Ano: 2002
URL: http://purl.umn.edu/19072

How Should We Value Agricultural Insurance Contracts
Provedor de dados: 31
Autores: Myers,   Robert J.; Liu,   Yanyan; Hanson,   Steven D.
We argue that existing agricultural insurance valuation models are limited either because they are not complete equilibrium models that price the non-diversifiable risk involved in issuing insurance contracts, or they assume complete markets which appears at odds with most applications of agricultural insurance. We also propose two new incomplete market models and derive an insurance valuation formula for each under the assumption of constant relative risk aversion preferences and  lognormally distributed random variables. The two models differ in the way they treat trade in insurance contracts, with one model allowing insurers and insureds to trade freely on a liquid secondary market, while the other requires insurance firms to act as brokers between...
Tipo: Conference Paper or Presentation
Palavras-chave: Risk and Uncertainty.
Ano: 2005
URL: http://purl.umn.edu/19561

1998 MICHIGAN LAND VALUES
Provedor de dados: 31
Autores: Hanson,   Steven D.; Schwab,   Gerald D.
Tipo: Working or Discussion Paper
Palavras-chave: Land Economics/Use.
Ano: 1998
URL: http://purl.umn.edu/10926

Credit Evaluation Procedures at Agricultural Banks in the Northeast and Eastern Cornbelt
Provedor de dados: 31
Autores: LaDue,   Eddy L.; Lee,   Warren F.; Hanson,   Steven D.; Hanson,   Gregory D.; Kohl,   David M.
Tipo: Working Paper
Palavras-chave: Agricultural Finance.
Ano: 1992
URL: http://purl.umn.edu/123076

A SIMPLE FRAMEWORK FOR DETERMINING THE FUNDAMENTAL AGRICULTURAL-USE VALUE OF MICHIGAN FARMLAND
Provedor de dados: 31
Autores: Hanson,   Steven D.
There is considerable interest in the determination of farmland values.  Although alternative models exist, present value models have played a central role in recent studies of agricultural land markets.  Alston (1986) uses a present value model to examine the effects of inflation and real growth in net rental income on farmland prices (see also Melichar, 1979).  Present value models also underlie analysis of the dynamic behavior of farmland prices by Burt (1986); investigation of causality relations between farmland rents and prices by Phipps (1984); and analysis of the relationship between agricultural and nonagricultural land markets by Robison et al. (1985).
Tipo: Working or Discussion Paper
Palavras-chave: Land Economics/Use.
Ano: 1999
URL: http://purl.umn.edu/11641

Efficiency Costs of Subsidy Rules for Crop Insurance
Provedor de dados: 31
Autores: Wang,   H. Holly; Hanson,   Steven D.; Black,   J. Roy.
Participation in federal crop insurance programs has been encouraged through premium subsidies. The current subsidy depends on contract features as well as coverage levels. This type of subsidy rule causes farmers to choose contract designs and coverages that are not efficient for managing risk, in order to capture subsidy. Farmers are found to be as well off with a flat subsidy that is up to 25% less than the value of the current regressive proportional subsidy.
Tipo: Journal Article
Palavras-chave: Crop insurance; Futures; Risk management; Subsidy; Risk and Uncertainty.
Ano: 2003
URL: http://purl.umn.edu/30717

CAN REVENUE INSURANCE SUBSTITUTE FOR PRICE AND YIELD RISK MANAGEMENT INSTRUMENTS?
Provedor de dados: 31
Autores: Hanson,   Steven D.; Black,   J. Roy; Wang,   H. Holly.
This is a revised copy of Staff Paper 2000-48.
Tipo: Working or Discussion Paper
Palavras-chave: Risk and Uncertainty.
Ano: 2000
URL: http://purl.umn.edu/11655

1997 MICHIGAN LAND VALUES
Provedor de dados: 31
Autores: Hanson,   Steven D.; Hepp,   Ralph E.; Harvey,   Lynn R.
Tipo: Working or Discussion Paper
Palavras-chave: Land Economics/Use.
Ano: 1997
URL: http://purl.umn.edu/10945

2004 MICHIGAN LAND VALUES
Provedor de dados: 31
Autores: Wittenberg,   Eric; Hanson,   Steven D.; Harsh,   Stephen B.
Tipo: Working or Discussion Paper
Palavras-chave: Land Economics/Use.
Ano: 2005
URL: http://purl.umn.edu/10937

2000 MICHIGAN LAND VALUES
Provedor de dados: 31
Autores: Hanson,   Steven D.; Schwab,   Gerald D.
Tipo: Working or Discussion Paper
Palavras-chave: Land Economics/Use.
Ano: 2000
URL: http://purl.umn.edu/10929

2001 MICHIGAN LAND VALUES
Provedor de dados: 31
Autores: Hanson,   Steven D.; Schwab,   Gerald D.
Tipo: Working or Discussion Paper
Palavras-chave: Land Economics/Use.
Ano: 2001
URL: http://purl.umn.edu/10947

CHARACTERISTICS OF FARMLAND LEASING IN THE NORTH CENTRAL UNITED STATES
Provedor de dados: 31
Autores: Patterson,   Brian; Hanson,   Steven D.; Robison,   Lindon J.
Leasing behavior differs across the North Central United States.  Survey data is used to characterize leasing activity in the region.  Data is collected on the amount of leased farmland, amount of cash and share leased land, and common output share levels.  Factors influencing leasing and arrangements are also identified.
Tipo: Working or Discussion Paper
Palavras-chave: Land Economics/Use.
Ano: 1998
URL: http://purl.umn.edu/11610

OPTIMAL POST-HARVEST GRAINS STORAGE BY RISK AVERSE FARMERS
Provedor de dados: 31
Autores: Lai,   Jing-Yi; Myers,   Robert J.; Hanson,   Steven D.
Most previous research on post-harvest grain storage by farmers has assumed risk-neutral behavior and/or made restrictive assumptions about underlying price probability distributions.  In this study we solve the optimal post-harvest storage problem for a risk averse farmer under more general assumptions about underlying price distributions.  The resulting model is applied to Michigan corn farmers and results show that, contrary to the sell all-or-nothing risk-neutral rule, risk averse farmers will spread sales out over the storage season.  The optimal pattern for sales by Michigan corn farmers is to sell approximately 50% of corn at harvest in November (a risk-reduction strategy) and approximately 40% in May (a return-enhancing strategy).
Tipo: Working or Discussion Paper
Palavras-chave: Crop Production/Industries.
Ano: 2001
URL: http://purl.umn.edu/11739