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A NONLINEAR MODEL OF INFORMATION AND COORDINATION IN HOG PRODUCTION: TESTING THE COASIAN-FOWLERIAN DYNAMIC HYPOTHESES AgEcon
Ruth, Matthias; Cloutier, L. Martin; Garcia, Philip.
The pig-cycle 'explanation' expunded by Coase and Fowler followed a well-integrated economic logic and provides tremendous insight into our understanding of commodity cycles. The paper presents a simulation model that replicates all of Coase and Fowler's results and tests its robustness with an application to U.S. hog production.
Tipo: Conference Paper or Presentation Palavras-chave: Livestock Production/Industries; Research Methods/ Statistical Methods.
Ano: 1998 URL: http://purl.umn.edu/20971
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The Financial Value of Champagne Houses in a Cobweb Economy AgEcon
Declerck, Francis; Cloutier, L. Martin.
The objective of the paper is to simulate the corporate value of Champagne makers by taking into account the Champagne market evolution. These measurements are conducted by linking financial debt, performance and valuation to a vertical coordination model of production-consumption within a cobweb economy. The overall model uses the dynamic structure that underlies the strategic interactions amongst grape producers and wine makers. These segments coordinate grape production and trade by forming expectations about final consumption, price and stock risks. The paper examines the dynamics of the financial cash flows and net worth of Champagne houses for the 1977 – 2003 period using system dynamics (SD) modeling principles. The results presented in this paper...
Tipo: Conference Paper or Presentation Palavras-chave: Financial valuation; Vertical coordination; Cobweb economy; System dynamics; Price expectations; Champagne; Wine; Agribusiness; Agricultural and Food Policy; Farm Management; Food Consumption/Nutrition/Food Safety; Industrial Organization.
Ano: 2008 URL: http://purl.umn.edu/49842
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