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| Leathers, Howard D.. |
| If profit-maximizing farmers are free to join or not to join a cooperative, it may appear reasonable to assume that a cooperative will exist only when it has cost advantaged over non-cooperative marketing. This paper presents a model in which that result fails. Every individual farmer chooses either to join or not join a cooperative depending on whether transactions costs are lower from cooperative membership or nonmembership. As cooperative membership increases, transactions costs for members decline, but for nonmembers these costs increase. Results of this analysis reveal that an equilibrium exists in which all farmers voluntarily choose to join the cooperative, but more than half of the members wish the cooperative had not been formed, and transactions... |
| Tipo: Journal Article |
Palavras-chave: Cooperatives; Transactions costs; Agribusiness. |
| Ano: 2006 |
URL: http://purl.umn.edu/8628 |
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| Mennecke, Brian; Townsend, Anthony M.; Hayes, Dermot J.; Lonergan, Steven. |
| This study utilizes an analysis technique commonly used in marketing, the conjoint method, to examine the relative utilities of a set of beef steak characteristics considered by a national sample of 1,432 U.S. consumers, as well as additional localized samples representing undergraduate students at a business college and in an animal science department. The analyses indicate that among all respondents, region of origin is by far the most important characteristic; this is followed by animal breed, traceability, the animal feed used, and beef quality. Alternatively, the cost of cut, farm ownership, the non-use of growth promoters, and whether the product is guaranteed tender were the least important factors. Results for animal science undergraduates are... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Conjoint market analysis; Consumer preferences; Country of origin; Steak quality; Traceability; Transactions costs; Food Consumption/Nutrition/Food Safety; Livestock Production/Industries. |
| Ano: 2006 |
URL: http://purl.umn.edu/18539 |
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| Onel, Gulcan. |
| Earlier studies usually indicate that farmland prices and cash rents are not cointegrated, a finding that seems at odds with the implications of the present value model. The main objective of this study is to explore whether this absence of empirical support for the present value model can be attributed to the restrictiveness of conventional time series methods. I suggest a panel unit root model with two regimes in which the adjustment process may be characterized by the presence of thresholds and discontinuities reflecting the presence of transactions costs and other barriers to adjustment. Using farmland value and cash rents data for 10 agricultural states of the U.S. between 1960 and 2008, empirical findings give modest improvement over the linear unit... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Present Value Model; Transactions costs; Thresholds; Panel unit root; Land Economics/Use; Research Methods/ Statistical Methods. |
| Ano: 2009 |
URL: http://purl.umn.edu/49445 |
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| Vakis, Renos; Sadoulet, Elisabeth; de Janvry, Alain. |
| Farmers incur proportional and fixed transactions costs in selling their crops on markets. Using data for Peruvian potato farmers, we propose a method to measure these transactions costs. When opportunities exist to sell a crop on alternative markets, the observed choice of market can be used to infer a monetary measure of transactions costs in market participation. The market choice model is first estimated at the reduced form level with a conditional logit, as a function of variables that explain transactions costs. We then use these market choice equations to control for selection in predicting the idiosyncratic prices that would be received on all markets and the idiosyncratic proportional transactions costs that would be incurred to reach all markets.... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Transactions costs; Market choice; Information; Marketing; D23; D83; O12. |
| Ano: 2003 |
URL: http://purl.umn.edu/25110 |
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