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Registros recuperados: 21 | |
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Babcock, Bruce A.; Fabiosa, Jacinto F.; Matthey, Holger; Isik, Murat; Tokgoz, Simla; Elobeid, Amani E.; Hart, Chad E.; Full, Frank. |
The Uruguay Round Agreement on Agriculture (URAA) provided a continuing mandate for progressive reforms to liberalize world agricultural markets. A new round of negotiation was put into motion in early 2000 and later formalized in what is now called the Doha Round. The Doha Round negotiation follows the same principle laid out in the URAA, with the introduction of three reform anchors: market access, export competition, and reduction of domestic support. This paper specifies the new schedule of commitments for each member country under the proposed modalities and assesses the potential market impacts of these changes for world agricultural markets. We specifically focus on grains, oilseeds, sugar, cotton, livestock, poultry, and dairy markets. |
Tipo: Working or Discussion Paper |
Palavras-chave: International Relations/Trade. |
Ano: 2003 |
URL: http://purl.umn.edu/18659 |
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Isik, Murat. |
This paper develops a framework to link the expected utility analysis to real options models in order to capture the joint effects of risk aversion and irreversibility associated with real investments. It aims at modifying the theory of investment under uncertainty by incorporating decision makers' risk preferences and allows explicitly analyzing the impacts of risk aversion, uncertainty and irreversibility on decisions such as investment and resource allocations. It addresses the shortcomings of the commonly used expected utility and investment under uncertainty models be generalizing the theory of irreversible investment under uncertainty by allowing for risk-averse investors. We found that uncertainty, irreversibility and risk aversion are important... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Expected utility; Investment under uncertainty; Irreversibility; Real options; Risk aversion; Risk and Uncertainty; D81; G1. |
Ano: 2004 |
URL: http://purl.umn.edu/20027 |
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Yang, Wanhong; Isik, Murat. |
This study develops a model to examine the impacts of uncertainty about crop production and irreversibility of program participation on determining land rental payments and least-cost land retirement targeting in the Conservation Reserve Enhancement Program (CREP). Results show that under risk aversion only, the marginal cost of abatement and the average land rental payment are less than those under risk neutrality. However, under uncertainty and irreversibility, the marginal cost of abatement and the average land rental payment are considerably higher than those under risk neutrality or risk aversion only. It is important to incorporate uncertainty and irreversibility into the design of land rental payments and in determining participation constraints. |
Tipo: Journal Article |
Palavras-chave: Farm Management; Land Economics/Use. |
Ano: 2004 |
URL: http://purl.umn.edu/31264 |
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Isik, Murat; Khanna, Madhu. |
A micro-level model of farmer decision making is developed to examine the extent to which uncertainty about potential yields influences the value of site-specific technologies. The economic and environmental benefits of these technologies arise from two sources: information gathering and variable-rate nitrogen application is higher on fields with low average potential yields, high spatial variability, positively skewed potential yield distributions, responsive yield to nitrogen, and low uncertainty. Variable-rate application decreases nitrogen use by reducing the extent of overapplication. However, in the presence of uncertainty about potential yields, the incentives to overapply nitrogen irrespective of the method of application, uniform of variable... |
Tipo: Journal Article |
Palavras-chave: Crop Production/Industries. |
Ano: 2002 |
URL: http://purl.umn.edu/31087 |
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Isik, Murat. |
The industrialization of U.S. beef, dairy, hog, and poultry sectors has received considerable attention. There have been regional shifts in the geographical location of livestock inventories and livestock farms. This paper examines the trends in geographical concentrations of livestock sectors in the U.S., and determines whether the environmental regulations have impacted the geographical concentrations. It uses an entropy-based geographical concentration measure to determine the extent of concentrations of beef, dairy, hog, and poultry inventories and farms. The results show that livestock productions on a national level and within states are becoming more geographically concentrated. The geographical concentration of livestock sectors is negatively... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Environmental Economics and Policy; Livestock Production/Industries. |
Ano: 2004 |
URL: http://purl.umn.edu/20401 |
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Babcock, Bruce A.; Beghin, John C.; Fabiosa, Jacinto F.; de Cara, Stephane; Elobeid, Amani E.; Fang, Cheng; Fuller, Frank H.; Hart, Chad E.; Isik, Murat; Matthey, Holger; Saak, Alexander E.; Kovarik, Karen; Womack, Abner W.; Young, Robert E., II; Westhoff, Patrick C.; Trujillo, Joe; Brown, D. Scott; Adams, Gary M.; Willott, Brian; Madison, Daniel; Meyer, Seth D.; Kruse, John R.; Binfield, Julian C.R.. |
Tipo: Report |
Palavras-chave: Crop Production/Industries; Livestock Production/Industries. |
Ano: 2002 |
URL: http://purl.umn.edu/32051 |
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Babcock, Bruce A.; Fabiosa, Jacinto F.; Matthey, Holger; Isik, Murat; Tokgoz, Simla; Elobeid, Amani E.; Hart, Chad E.; Saak, Alexander E.; Fuller, Frank H.; Kovarik, Karen; Womack, Abner W.; Young, Robert E., II; Westhoff, Patrick C.; Brown, D. Scott; Willott, Brian; Madison, Daniel; Meyer, Seth D.; Kruse, John R.; Binfield, Julian C.R.. |
Tipo: Report |
Palavras-chave: Crop Production/Industries; Livestock Production/Industries. |
Ano: 2003 |
URL: http://purl.umn.edu/32053 |
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Isik, Murat; Yang, Wanhong. |
A real options model is developed to examine the determinants of farmer participation in the Conservation Reserve Program (CRP). This study contributes to the literature by developing a framework for ex post analysis of uncertainty and irreversibility. It extends the applications of real options models to analyze farmer participation in the CRP. The model incorporates land and owner attributes, and determines whether uncertainty and irreversibility affect the probability of participation. Option values play a significant role in farmer decisions to retire land by reducing the probability of participation. These results have implications for the design and implementation of conservation programs. |
Tipo: Journal Article |
Palavras-chave: Conservation; CRP; Farmer participation; Land rental payments; Option values; Uncertainty; Agricultural and Food Policy. |
Ano: 2004 |
URL: http://purl.umn.edu/31113 |
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Isik, Murat. |
This paper develops theoretical and empirical models to understand how farmers formulate their participation strategies when deciding to enroll in the Conservation Reserve Program (CRP) under uncertainty. A theoretical model is employed to obtain the impacts of various factors on the optimal bidding strategies. A selectivity-based econometric model is then used to estimate the probability of enrollment and determinants of rental payments. The theoretical results indicate that the optimal bid is positively related to the expected farming income and environmental benefit scores, and it is negatively related to the degree of risk aversion and the variability of returns. The econometric model shows that land benefits, land attributes, farmer... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Conservation programs; Land retirement; Risk aversion; Uncertainty.; Farm Management. |
Ano: 2005 |
URL: http://purl.umn.edu/19264 |
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Isik, Murat; Khanna, Madhu; Winter-Nelson, Alex. |
An option-value model is developed to analyze the impacts of output price uncertainty, high sunk costs of adoption, and site-specific conditions on the optimal timing of adoption of two interrelated site-specific technologies, soil testing and variable rate technology (VRT). The model incorporates the potential for adopting these two technologies jointly or sequentially. The implications of the pattern of adoption for nitrogen pollution and for the design of a cost-share subsidy policy to accelerate the adoption of these technologies to reduce nitrogen pollution are also analyzed. Ignoring the potential for sequential adoption would tend to underpredict the adoption so soil testing and overpredict the adoption of VRT. Cost-share subsidies to induce... |
Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
Ano: 2001 |
URL: http://purl.umn.edu/31161 |
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Fabiosa, Jacinto F.; Beghin, John C.; de Cara, Stephane; Fang, Cheng; Isik, Murat; Matthey, Holger. |
Using a partial equilibrium model of world agriculture, we investigate the multilateral removal of all border taxes and farm programs and their distortion of world agricultural markets. These distortions have significant terms-of-trade effects. World trade is also significantly impacted by both types of distortions. Trade expansion is substantial for most commodities, especially dairy, meats, and vegetable oils. Net agricultural and food exporters (Brazil, Australia, and Argentina) emerge with expanded exports; whereas net importing countries with limited distortions before liberalization are penalized by higher world markets prices and reduced imports. The US gains significant export shares in livestock products and imports more dairy products.... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Doha; Agriculture; Trade liberalization; Domestic policy; International Relations/Trade. |
Ano: 2003 |
URL: http://purl.umn.edu/25875 |
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Yang, Wanhong; Isik, Murat. |
This paper develops a model to examine the impacts of uncertainty about crop production and irreversibility of program participation on determining land rental payments and least-cost land retirement targeting in the Conservation Reserve Enhancement Program. Results show that under risk aversion only, the marginal cost of abatement and the average land rental payment are less than those under risk neutrality. However, under uncertainty and irreversibility, the marginal cost and the average land rental payment are considerably higher than those under risk neutrality or risk aversion only. It is important to incorporate uncertainty and irreversibility into the design of land rental payments and in determining participation constraints. |
Tipo: Conference Paper or Presentation |
Palavras-chave: Farm Management; Land Economics/Use. |
Ano: 2003 |
URL: http://purl.umn.edu/22062 |
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Registros recuperados: 21 | |
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