Data/hora: 02/06/2024 17:40:40

Provedor de dados: 	Research in Agricultural & Applied Economics (AgEcon Searh)	
País: 	United States	
Título: 	Do Transaction Costs and Risk Preferences Influence Marketing Arrangements in the Illinois Hog Industry?	
Autores: 	Franken,   Jason R.V.; Pennings,   Joost M.E.; Garcia,   Philip.	
Data: 	2009-10-29	
Ano: 	2009	
Palavras-chave: 	Asset specificity; Contracts; Hogs; Risk attitude; Risk behavior; Risk perception; Transaction costs economics; Livestock Production/Industries; Risk and Uncertainty.	
Resumo: 	Risk reduction and transaction costs are often used to explain contracting in the U.S. hog industry with little empirical support. Using a unified conceptual framework that draws from risk behavior and transaction cost theories, in combination with unique survey and accounting data, we demonstrate that risk preferences and asset specificity impact Illinois producers’ use of contracts and spot markets. In particular, producers’ investments in specific hog genetics and human capital are related to selection of long-term marketing contracts over spot markets. Producers who perceive greater levels of price risk and/or are more averse are more (less) likely to use contracts (spot markets).	
Tipo: 	Report	
Idioma: 	Inglês	
Identificador: 	http://purl.umn.edu/54548	
Relação: 	Journal of Agricultural and Resource Economics&gt;Volume 34, Number 2, August 2009	
Formato: 	19