Consulta: creatorFacets:"Chavas,   Jean-Paul"
Registros recuperados: 53
Data/hora: 09/06/2024 10:45:37

NONLINEAR DYNAMICS AND ECONOMIC INSTABILITY: THE OPTIMAL MANAGEMENT OF A BIOLOGICAL POPULATION
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Holt,   Matthew T.
Assuming a competitive market, conditions are determined for when a steady-state equilibrium does not exist in the optimal dynamic management of a biological population. Irregular and unpredictable behavior (called “"chaos"”) can arise from fully rational economic decision making. High interest rate, adjustment costs, and an inelastic demand can contribute to market instability.
Tipo: Journal Article
Palavras-chave: Environmental Economics and Policy.
Ano: 1995
URL: http://purl.umn.edu/30770

AN ANALYSIS OF ECONOMIC EFFICIENCY IN AGRICULTURE: A NONPARAMETRIC APPROACH
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Aliber,   Michael.
A nonparametric analysis of technical, allocative, scale, and scope efficiency of agricultural production is presented based on a sample of Wisconsin farmers. The results indicate the existence of important economies of scale on very small farms, and of some diseconomies of scale for the larger farms. Also, it is found that most farms exhibit substantial economies of scope, but that such economies tend to decline sharply with the size of the enterprises. Finally, the empirical evidence suggests significant linkages between the financial structure of the farms and their economic efficiency.
Tipo: Journal Article
Palavras-chave: Farm Management; Industrial Organization.
Ano: 1993
URL: http://purl.umn.edu/30811

HOUSEHOLD DEMAND FOR FRESH POTATOES:  A DISAGGREGATED CROSS-SECTIONAL ANALYSIS
Provedor de dados: 31
Autores: Cox,   Thomas L.; Ziemer,   Rod F.; Chavas,   Jean-Paul.
A model of household fresh potato consumption incorporating prices, income, family size and other socioeconomic effects is estimated by maximum likelihood Tobit procedures.  The effects of truncation bias due to non-purchasing households are evaluated and decompositions of the Tobit elasticities are performed for various sub-groups of the data.  The market development implications of this type of disaggregated commodity analysis are explored.
Tipo: Journal Article
Palavras-chave: Demand and Price Analysis; Food Consumption/Nutrition/Food Safety.
Ano: 1984
URL: http://purl.umn.edu/32373

A Cost Approach to Economic Analysis under Production Uncertainty
Provedor de dados: 31
Autores: Chavas,   Jean-Paul.
This paper explores the economics of input decision by a firm facing production uncertainty. It relies on a state-contingent approach to production uncertainty. First, the paper develops a methodology to specify and estimate cost-minimizing input decisions under a state-contingent technology. Second, the analysis is applied to time series data on US agriculture. It finds strong empirical evidence that, in the analysis of input choices, expected output alone does not provide an appropriate representation of production uncertainty. The results provide empirical support for an output-cubical technology. This indicates that an ex post analysis of stochastic technology (as commonly found in previous research) appears appropriate. The analysis also provides...
Tipo: Conference Paper or Presentation
Palavras-chave: Production uncertainty; State contingent; Cost; Cubical technology.; Research Methods/ Statistical Methods; C3; D21; D8.
Ano: 2006
URL: http://purl.umn.edu/21081

ON THE ECONOMIC RATIONALITY OF MARKET PARTICIPANTS: THE CASE OF EXPECTATIONS IN THE U.S. PORK MARKET
Provedor de dados: 31
Autores: Chavas,   Jean-Paul.
This study investigates the nature of price expectations in a competitive market. The approach is illustrated in an application to the U.S. pork market, which exhibits cyclical patterns and biological production lags. Pork price equations are estimated under different expectation regimes. The empirical results suggest the presence of heterogeneous price expectations among market participants. A large proportion of the market (73%) is found to be associated with backward-looking expectations, where future prices are anticipated on the basis of their observed historical patterns.
Tipo: Journal Article
Palavras-chave: Agribusiness.
Ano: 1999
URL: http://purl.umn.edu/30882

An Econometric Analysis of Brand Level Strategic Pricing Between Coca Cola and Pepsi Inc.
Provedor de dados: 31
Autores: Dhar,   Tirtha Pratim; Chavas,   Jean-Paul; Cotterill,   Ronald W.; Gould,   Brian W.
Market structure and strategic pricing for leading brands sold by Coca Cola and Pepsi Inc. are investigated in the context of a flexible demand specification and structural price equations. This approach is more general than prior studies that rely upon linear approximations and interactions of an inherently nonlinear problem. We test for Bertrand equilibrium, Stackelberg equilibrium, collusion, and a general conjectural variation (CV) specification. This nonlinear Full Information Maximum Likelihood (FIML) estimation approach provides useful information on the nature of imperfect competition and the extent of market power.
Tipo: Working or Discussion Paper
Palavras-chave: Market structure; Strategic pricing; Conjectural variations; Price reaction; Carbonated soft drinks; Demand and Price Analysis.
Ano: 2002
URL: http://purl.umn.edu/25231

THE EFFECTS OF CANADIAN SPECIAL MILK CLASSES IN THE U.S. AND CANADIAN DAIRY TRADE
Provedor de dados: 31
Autores: Seol,   Hwayoung; Cox,   Thomas L.; Chavas,   Jean-Paul.
Canadian Special Milk Classes have been the focus of longstanding WTO disputes on whether they work as export subsidies.  This paper models the Special Milk Classes and Commercial Export Milk (CEM) explicitly in the U.S. and Canadian dairy trade and finds their effects.  The effects of trade liberalization are also discussed.
Tipo: Conference Paper or Presentation
Palavras-chave: International Relations/Trade; Livestock Production/Industries.
Ano: 2003
URL: http://purl.umn.edu/22016

AN ECONOMETRIC ANALYSIS OF THE EFFECTS OF MARKET LIBERALIZATION ON PRICE DYNAMICS AND PRICE VOLATILITY
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Kim,   Kwansoo.
The paper investigates price dynamics under market liberalization, with a focus on the effects of lowering price floors. We analyze price dynamics by specifying and estimating a dynamic Tobit model under time-varying volatility, where the market price is censored by a government-set support price. The model is applied to the U.S. butter market over the last three decades. The econometric results show how the price support program affects both expected prices and the volatility of prices. It is found that the censoring effects of a price support program can be significant and large even if the price support is set relatively low.
Tipo: Conference Paper or Presentation
Palavras-chave: Demand and Price Analysis.
Ano: 2001
URL: http://purl.umn.edu/20649

SUNK COSTS AND RESOURCE MOBILITY: IMPLICATIONS FOR ECONOMIC AND POLICY ANALYSIS
Provedor de dados: 31
Autores: Barham,   Bradford L.; Chavas,   Jean-Paul.
The implications of sunk costs for many key questions in agricultural economics have yet to be explored. This paper uses a dynamic model of investment behavior to explore how sunk costs can shape market outcomes in ways that might not match predictions of standard competitive models. Applying the model to several key issues in agricultural markets and international trade offers new perspectives that challenge conventional wisdoms. Institutional and policy innovations are also examined for their potential to improve welfare outcomes when sunk costs impede factor mobility.
Tipo: Working or Discussion Paper
Palavras-chave: Agricultural and Food Policy.
Ano: 1997
URL: http://purl.umn.edu/12686

Research and Development at U.S. Research Universities: An Analysis of Scope Economies
Provedor de dados: 31
Autores: Kim,   Kwansoo; Barham,   Bradford L.; Chavas,   Jean-Paul; Foltz,   Jeremy D.
This work investigates the presence and sources of economies of scope in R&amp;D at U.S. research universities. The analysis evaluates the tradeoffs and synergies arising between traditional university research outputs (articles and doctorates) and academic patents. We propose a new measure of economies of scope based on a primal representation of the underlying technology. We derive a decomposition of economies of scope which identifies its sources (e.g., complementarity effects and scale effects). Non-parametric estimates of scope economies using R&amp;D input and output data from 92 research universities show significant economies of scope between articles and patents, but modest complementarities.
Tipo: Working or Discussion Paper
Palavras-chave: Research and Development/Tech Change/Emerging Technologies.
Ano: 2005
URL: http://purl.umn.edu/12674

AN ECONOMIC ANALYSIS OF CORN YIELD, CORN PROFITABILITY, AND RISK AT THE EDGE OF THE CORN BELT
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Kim,   Kwansoo; Lauer,   Joseph G.; Klemme,   Richard M.; Bland,   William L.
This study investigates the recent evolution of corn yield, with a special focus on the tradeoff between corn profitability and risk.  The analysis relies on time-series data from Wisconsin experimental farms at the edge of the Corn Belt.  An econometric model of corn yield, corn grain moisture, and corn profitability is specified.  Both conditional means and conditional variances are estimated for different sites in Wisconsin. The empirical analysis shows the changes in corn yield and profit over time and across space.  The evidence suggests that yield trends are due mostly to technical progress, with smaller effects generated by climate change.  On average, corn yield and profitability have improved faster in northern Wisconsin than in the Corn Belt....
Tipo: Journal Article
Palavras-chave: Crop Production/Industries.
Ano: 2001
URL: http://purl.umn.edu/31152

TECHNOLOGICAL CHANGE AND RISK MANAGEMENT: AN APPLICATION TO THE ECONOMICS OF CORN PRODUCTION
Provedor de dados: 31
Autores: Kim,   Kwansoo; Chavas,   Jean-Paul.
The paper investigates the linkages between technological change and production risk, with an application to corn. The effects of technology on risk exposure are characterized based on the properties of the risk premium. We define technological progress to be risk-increasing (risk-decreasing) if it increases (decreases) the relative risk premium. The analysis is applied to panel data from Wisconsin research stations. Conditional moments (including mean, variance and skewness) of corn yield, grain moisture and corn profit are estimated for different sites. We investigate how the trade-off between expected return and the risk premium varies over time and over space. The empirical results indicate that technological progress contributes to reducing the...
Tipo: Conference Paper or Presentation
Palavras-chave: Crop Production/Industries; Research and Development/Tech Change/Emerging Technologies; Risk and Uncertainty.
Ano: 2001
URL: http://purl.umn.edu/20605

An Analysis of the Pricing of Traits in the U.S. Corn Seed Market
Provedor de dados: 31
Autores: Shi,   Guanming; Chavas,   Jean-Paul; Stiegert,   Kyle W.
This paper investigates the pricing of patented traits in the U.S. hybrid corn seed market under imperfect competition. In a multiproduct context, we first examine how substitution/complementarity relationships among products can affect pricing. This is used to motivate multi-product generalizations of the Herfindahl-Hirschman index (GHHI) capturing cross-market effects of imperfect competition on bundle pricing. The GHHI model is applied to pricing of conventional and patented biotech seeds in the US from 2000-2007. One major finding is that standard component pricing in biotech traits is soundly rejected in favor of subadditive bundle pricing. The econometric estimates show how changes in market structures (as measured by both own- and cross-Herfindahl...
Tipo: Working or Discussion Paper
Palavras-chave: Marketing; Research Methods/ Statistical Methods.
Ano: 2009
URL: http://purl.umn.edu/92249

ADJUSTMENTS OF MIDWEST GRAIN FARM BUSINESSES IN RESPONSE TO INCREASES IN PETROLEUM ENERGY PRICES
Provedor de dados: 31
Autores: Kliebenstein,   James B.; Chavas,   Jean-Paul.
Tipo: Journal Article
Palavras-chave: Crop Production/Industries; Resource /Energy Economics and Policy.
Ano: 1977
URL: http://purl.umn.edu/30520

On Pricing and Vertical Organization of Differentiated Products: The Case of Soybean Seed Industry
Provedor de dados: 31
Autores: Shi,   Guanming; Chavas,   Jean-Paul.
This paper investigates the pricing and vertical organization of differentiated products under imperfect competition. In a multiproduct context, a Cournot model is used to examine how substitution/complementarity relationships among products and vertical structures can affect the exercise of market power. This motivates a generalization of the Herfindahl-Hirschman index (termed VHHI) capturing how market concentration and vertical structures interact to influence prices of differentiated products. The analysis is applied to pricing of soybean seeds in the US over the period 2000-2007. The analysis considers two vertical structures employed by biotech firms: vertical integration and licensing. The econometric analysis finds evidence that vertical...
Tipo: Conference Paper or Presentation
Palavras-chave: Vertical structures; Pricing; Imperfect competition; Seed; Biotechnology; Demand and Price Analysis; Industrial Organization; L13; L4; L65.
Ano: 2009
URL: http://purl.umn.edu/49186

The microeconomics of food security
Provedor de dados: 31
Autores: Chavas,   Jean-Paul.
This article develops a dynamic microeconomic model of food security under uncertainty, with special focus on the relationships between food demand, nutrition and human survival. It investigates the influence of entitlements on malnutrition, hunger and starvation under uncertainty. It develops useful insights on the links between food security and a number of policy instruments commonly used in dealing with malnutrition and starvation.
Tipo: Journal Article
Palavras-chave: Food Security and Poverty.
Ano: 2000
URL: http://purl.umn.edu/117786

EFFECTS OF THE FOOD STAMP PROGRAM ON FOOD CONSUMPTION IN THE SOUTHERN UNITED STATES
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Yeung,   M.L.
Tipo: Journal Article
Palavras-chave: Food Consumption/Nutrition/Food Safety.
Ano: 1982
URL: http://purl.umn.edu/29582

Innovation, Integration, and the Biotechnology Revolution in U.S. Seed Markets
Provedor de dados: 31
Autores: Stiegert,   Kyle W.; Shi,   Guanming; Chavas,   Jean-Paul.
Tipo: Journal Article
Palavras-chave: Crop Production/Industries; Research and Development/Tech Change/Emerging Technologies; L11; L13; L25.
Ano: 2010
URL: http://purl.umn.edu/94755

An Econometric Analysis of Price Dynamics in the Presence of a Price Floor:  The Case of American Cheese
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Kim,   Kwansoo.
In this paper, we present an econometric analysis for the effects of a price floor on price dynamics and price volatility. A price floor (implemented as a part of government pricing policy) provides a censoring mechanism for price determination. We specify and estimate a dynamic Tobit model under time-varying volatility.  The model is applied to analyze the effects of a price support program on price dynamics and price volatility in the U.S. American cheese market.  The econometric analysis provides useful insights on price dynamics in the presence of a government-determined price floor.
Tipo: Journal Article
Palavras-chave: Censored regression; Market liberalization; Model selection; Price dynamics; Price volatility; Demand and Price Analysis; Q0; D4; C5.
Ano: 2005
URL: http://purl.umn.edu/43628

Responding to the Coffee Crisis: What Can We Learn from Price Dynamics
Provedor de dados: 31
Autores: Mehta,   Aashish; Chavas,   Jean-Paul.
We develop a semi-structural price vector autoregression to capture coffee price dynamics over various time horizons. The presence of the International Coffee Agreement is permitted to alter supply responses to price signals through yield and planting effects. In the short run, the ICA caused Brazilian farm prices to become disconnected from international prices. In the long run, the ICA promoted supply response by providing a stable environment in which producers could use current price information to predict future prices. In the intermediate run, it muted supply response by necessitating an institutional price wedge between wholesale and farm level prices. In net, the ICA created a price cycle that does not exist in non-ICA periods. Oxfam's proposal to...
Tipo: Working or Discussion Paper
Palavras-chave: Demand and Price Analysis.
Ano: 2004
URL: http://purl.umn.edu/12604

A GENERALIZED DISTANCE FUNCTION AND THE ANALYSIS OF PRODUCTION EFFICIENCY
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Cox,   Thomas L.
A generalization of Shephard's distance functions is proposed, extending the usefulness of distance functions in economic analysis. Applications to efficiency measurements and productivity analysis are presented. New indexes of productivity, and technical, allocative and scale efficiency are proposed and analyzed. Interpretation of these indexes in terms of ray-average cost, ray-average revenue, and cost-to-revenue ratio is discussed.
Tipo: Working or Discussion Paper
Palavras-chave: Production Economics.
Ano: 1999
URL: http://purl.umn.edu/12601

An Empirical Assessment of Endogeneity Issues In Demand Analysis for Differentiated Products
Provedor de dados: 31
Autores: Dhar,   Tirtha Pratim; Chavas,   Jean-Paul; Gould,   Brian W.
This article explores the issue of price and expenditure endogeneity in empirical demand analysis. The analysis focuses on the US carbonated soft drink market. We test the null hypothesis that price and expenditures are exogenous in the demand for carbonated soft drinks. Using an Almost Ideal Demand System (AIDS) specification, we strongly reject exogeneity for both prices and expenditures. We find that accounting for price/expenditures endogeneity significantly impacts demand elasticity estimates. We also evaluate the implications of endogeneity issues for testing weak separability.
Tipo: Working or Discussion Paper
Palavras-chave: Endogeneity; Separability; Carbonated soft drinks; Almost Ideal Demand System; Demand and Price Analysis.
Ano: 2002
URL: http://purl.umn.edu/25227

Pricing and Vertical Organization of Differentiated Products
Provedor de dados: 31
Autores: Shi,   Guanming; Chavas,   Jean-Paul.
This paper investigates differentiated product pricing and vertical organization under imperfect competition. We develop a conceptual model of multiproduct pricing to examine how the exercise of market power varies with substitution/complementarity relationships among products and vertical structures. The analysis is applied to US soybean seed pricing during the period between 2000 and 2007. It considers two vertical structures: Vertical integration and licensing. We find evidence that vertical organization has significant effects on prices. These effects vary depending on the institutional setup and the bundling of genetic material. The empirical evidence shows that, in a multi-market context, complementarity and economies of scope can mitigate the price...
Tipo: Working or Discussion Paper
Palavras-chave: Demand and Price Analysis; Research Methods/ Statistical Methods.
Ano: 2010
URL: http://purl.umn.edu/92228

The Effects of Vertical Organization on the Pricing of Differentiated Products
Provedor de dados: 31
Autores: Shi,   Guanming; Chavas,   Jean-Paul.
We investigate differentiated product pricing and the effects of vertical organization under imperfect competition. We rely on vertical measures of concentration (termed VHHI) to study how the exercise of market power varies with substitution/complementarity relationships among products and vertical structures. This approach is applied to U.S. soybean seed pricing under vertical integration versus licensing. We find evidence that vertical organization affects seed prices, with an impact ranging from 1.87% to 13.6% of the mean price. These effects vary by institutional setup.We also find that complementarity can mitigate price enhancements associated with market concentration.
Tipo: Article
Palavras-chave: Biotechnology; Imperfect competition; Pricing; Seed; Soybean; Vertical structures; Demand and Price Analysis; Industrial Organization.
Ano: 2011
URL: http://purl.umn.edu/119157

On the Microeconomics of Diversification under Uncertainty and Learning
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Barham,   Bradford L.
This paper investigates the microeconomics of diversification, based on a two-period model of an owner-managed firm facing uncertainty. The analysis utilizes a general state-contingent representation of uncertainty and learning. Economies of diversification are defined based on a certainty equivalent, which has three components: expected profit, the risk premium (measuring the cost of risk aversion), and the value of information associated with learning. The influence of scale effects, “trans-ray concavity” effects, and income effects on economies of diversification are examined in detail. We argue that, while scope economies and risk aversion can provide general incentives for diversification, information and learning can have the opposite effect. By...
Tipo: Working or Discussion Paper
Palavras-chave: Risk and Uncertainty.
Ano: 2007
URL: http://purl.umn.edu/92141

An Analysis of Bundle Pricing: The Case of the Corn Seed Market
Provedor de dados: 31
Autores: Shi,   Guanming; Chavas,   Jean-Paul; Stiegert,   Kyle W.
This paper investigates bundle pricing under imperfect competition. In a multiproduct context, we first examine how substitution/complementarity relationships among products can affect pricing. This is used to motivate multi-product generalizations of the Herfindahl-Hirschmann index (GHHI) capturing cross-market effects of imperfect competition on bundle pricing. The GHHI model is applied to pricing of conventional and patented biotech seeds in the US from 2000-2007. One major finding is that standard component pricing in biotech traits is soundly rejected in favor of sub-additive bundle pricing. This result is consistent with the presence of scope economies in the production of genetic traits. The econometric estimates show how changes in market...
Tipo: Working or Discussion Paper
Palavras-chave: Agribusiness; Demand and Price Analysis.
Ano: 2008
URL: http://purl.umn.edu/92212

MARKET STRUCTURE AND SPATIAL PRICE DYNAMICS
Provedor de dados: 31
Autores: Brorsen,   B. Wade; Chavas,   Jean-Paul; Grant,   Warren R.
A method was developed with time series models to test hypotheses about the relationship between market structure and spatial price dynamics. Long-run dynamic multipliers measuring the magnitude of lagged adjustments for spatial milled rice prices were calculated from the time series model and used as the dependent variable in a regression model that included a number of factors expected to influence price determination. Results show that price adjustments were slower as regional submarket concentration increased and were faster in the regions with a higher market share. Arkansas, the state with the largest market share, was consistently a price leader
Tipo: Journal Article
Palavras-chave: Demand and Price Analysis; Industrial Organization.
Ano: 1991
URL: http://purl.umn.edu/30057

LOW CAPITAL DAIRY STRATEGIES IN WISCONSIN:  LESSONS FROM A NEW APPROACH TO MEASURING PROFITABILITY
Provedor de dados: 31
Autores: Barham,   Bradford L.; Chavas,   Jean-Paul; Klemme,   Richard M.
This paper proposes a new way to evaluate the role of profitability and risk in the dairy industry, one that incorporates the effects of uncertainty about future returns when investments are irreversible, or sunk. The usefulness of this new approach is demonstrated by the light it sheds on recent attempts by Wisconsin dairy farmers to develop low capital investment strategies and why these initiatives might be crucial to the vitality of the state's industry as a whole. The value of this paper, however, reaches beyond the contribution it offers to comparisons of the viability of alternative investment strategies in dairy, because it is applicable to evaluating profitability and risk in any economic activity, inside or outside of agriculture, where much of...
Tipo: Working or Discussion Paper
Palavras-chave: Livestock Production/Industries.
Ano: 1994
URL: http://purl.umn.edu/12631

Efficiency and Technological Change at U.S. Research Universities
Provedor de dados: 31
Autores: Kim,   Kwansoo; Foltz,   Jeremy D.; Barham,   Bradford L.; Chavas,   Jean-Paul.
This paper investigates the determinants of efficiency and technological progress at US research universities. It relies on a unique panel data set of multiple outputs and inputs from 92 universities covering the period 1981-1998. Over that time span, US universities experienced large increases in industry funding and in academic patenting activity. In this context, the directional distance function and a nonparametric representation of the underlying production technology are combined to obtain estimates of productivity growth and technical efficiency. A pooled-Tobit estimator is used to examine the determinants of technical efficiency and the rate of technological progress. The results show how changes in funding sources for U.S. research universities...
Tipo: Working or Discussion Paper
Palavras-chave: Teaching/Communication/Extension/Profession.
Ano: 2005
URL: http://purl.umn.edu/12677

HEDGING AND PRODUCTION DECISIONS UNDER A LINEAR MEAN-VARIANCE PREFERENCE FUNCTION
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Pope,   Rulon D.
A firm model of production and hedging decisions is developed using a mean-variance preference function.  Comparative static analysis of the model generates a number of testable hypotheses.  For example, the influence of price risk, production risk and hedging cost on the optimal level of production and hedging is analyzed in the framework.
Tipo: Journal Article
Palavras-chave: Farm Management.
Ano: 1982
URL: http://purl.umn.edu/32422

An Economic Analysis of Product Differentiation under Latent Separability
Provedor de dados: 31
Autores: Dhar,   Tirtha Pratim; Chavas,   Jean-Paul; Cotterill,   Ronald W.
This paper develops an analysis of markets for differentiated products. It relies on the concept of latent separability for consumer preferences. As proposed by Blundell and Robin, latent separability assumes that purchased products are allocated in the production of latent intermediate utility-yielding goods. Product differentiation can arise when each product makes a different contribution to the production of the latent goods. Latent separability is particularly attractive in the investigation of markets for branded products where the number of brands is large. It allows focusing on the demand for a smaller number of latent goods. Our approach is based on a quadratic almost ideal demand system (Q-AIDS), which provides a flexible representation of...
Tipo: Conference Paper or Presentation
Palavras-chave: Agribusiness.
Ano: 2003
URL: http://purl.umn.edu/21892

A PRIMAL-DUAL APPROACH TO NONPARAMETRIC PRODUCTIVITY ANALYSIS: THE CASE OF U.S. AGRICULTURE
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Cox,   Thomas L.
Nonparametric methods for measuring productivity indexes based on bounds for the underlying production technology are presented. Following Banker and Maindiratta, the lower bound is obtained from a primal approach while the upper bound corresponds to a dual approach to nonparametric production analysis. These nonparametric bounds are then used to estimate input-based and output- based distance functions. These radial measures provide the basis for measuring productivity indexes. Application to times series data on U.S. agriculture indicates a large gap between the primal lower bound and the dual upper bound. This generates striking differences between the primal and dual nonparametric productivity indexes.
Tipo: Working or Discussion Paper
Palavras-chave: Productivity Analysis.
Ano: 1994
URL: http://purl.umn.edu/12613

On Microeconomic Efficiency and Entrepreneurship under Bounded Rationality
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Barham,   Bradford L.
We present a dynamic model of economic behavior of an owner-operated firm under bounded rationality, and develop the implications for the assessment of economic efficiency and the understanding of entrepreneurship. Under bounded rationality, information about technology and market conditions is not perfectly known, creating the possibility for learning. Uncertainty is represented using a general state-contingent approach. Efficiency analysis is explored using a certainty equivalent measure, which is the sum of three parts: expected net income, a conditional value of information, and a risk premium (measuring the implicit cost of private risk bearing). The analysis yields critical insights about the role of learning in technical efficiency, allocative...
Tipo: Working or Discussion Paper
Palavras-chave: Risk and Uncertainty.
Ano: 2007
URL: http://purl.umn.edu/92142

A NONPARAMETRIC ANALYSIS OF THE SOURCE AND NATURE OF TECHNICAL CHANGE:  THE CASE OF U.S. AGRICULTURE
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Aliber,   Michael; Cox,   Thomas L.
Tipo: Working or Discussion Paper
Palavras-chave: Research and Development/Tech Change/Emerging Technologies.
Ano: 1994
URL: http://purl.umn.edu/12660

An Analysis of Bundle Pricing in Horizontal and Vertical Markets: The Case of the U.S. Cottonseed Market
Provedor de dados: 31
Autores: Shi,   Guanming; Stiegert,   Kyle W.; Chavas,   Jean-Paul.
In this paper, we investigate substitution/complementarity relationships among products sold with different bundled characteristics and under different vertical arrangements. Our conceptual model demonstrates the interactive price impacts emanating from product differentiation, market concentration and market size. The model is applied to the U.S. cottonseed market using transaction level data from 2002 to 2007. This market has been impacted structurally in numerous ways due to the advances and the rapid adoption of seeds with differing bundles of biotechnology traits and vertical penetration emanating from the biotechnology seed industry. Several interesting findings are reported. The econometric investigation finds evidence of sub-additive pricing in the...
Tipo: Working or Discussion Paper
Palavras-chave: Marketing; Research Methods/ Statistical Methods.
Ano: 2009
URL: http://purl.umn.edu/92248

INTERREGIONAL ANALYSIS OF THE IMPACTS OF ELIMINATING EUROPEAN UNION MILK PRODUCTION QUOTAS
Provedor de dados: 31
Autores: Bouamra-Mechemache,   Zohra; Chavas,   Jean-Paul; Cox,   Thomas L.; Requillart,   Vincent.
An hedonic spatial equilibrium model of the European Union dairy sector is used to evaluate the interregional impacts of eliminating milk production quotas under a variety of domestic policy (intervention prices and domestic production/consumption subsidies) and trade policies (tariff rate quotas and export subsidies).  The simulation results indicate that the removal of the EU milk production quotas is welfare improving both only with substantial liberalization of trade. Hence, production quota removal by itself is not a desirable policy alternative for either the EU or the world. Rather, policy reform should involve the joint consideration of domestic and trade policy instruments.
Tipo: Conference Paper or Presentation
Palavras-chave: Agricultural and Food Policy; Livestock Production/Industries.
Ano: 2001
URL: http://purl.umn.edu/20677

TECHNICAL CHANGE AND EFFICIENCY AT US LAND GRANT UNIVERSITIES: IS THERE ANY FAT LEFT TO CUT?
Provedor de dados: 31
Autores: Foltz,   Jeremy D.; Barham,   Bradford L.; Chavas,   Jean-Paul; Kim,   Kwansoo.
This work uses non-parametric efficiency analysis and a unique panel data set to analyze efficiency and technical change at US universities from 1981-1998 with a special emphasis on Land Grant institutions.  The analysis demonstrates that Land Grants are on average more efficient than their counterparts.  While in the 1980s they had higher levels of technological change, in the 1990s that declined to levels similar to other types of universities.  Identifying factors influencing efficiency and technological progress in university production provides key insights into the future of the Land Grant system.
Tipo: Conference Paper or Presentation
Palavras-chave: Research and Development/Tech Change/Emerging Technologies; Teaching/Communication/Extension/Profession.
Ano: 2004
URL: http://purl.umn.edu/20237

ON MARKET EQUILIBRIUM ANALYSIS
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Cox,   Thomas L.
The paper develops the implications of competitive market equilibrium for production and household behavior when some prices are endogenously determined. The properties of market equilibrium functions are explored, including the effects of pricing policy. A Slutsky-type equation relating compensated and uncompensated market equilibrium functions is derived. Implications for multi-market welfare analysis are presented, focusing on the effects of pricing policy and technical change.
Tipo: Working or Discussion Paper
Palavras-chave: Industrial Organization.
Ano: 1996
URL: http://purl.umn.edu/12615

A Semi-Parametric Analysis of Technology, with an Application to U.S. Dairy Farms
Provedor de dados: 31
Autores: de los Campos,   Gustavos; Foltz,   Jeremy D.; Chavas,   Jean-Paul; Gianola,   Daniel.
This article proposes a semi-parametric stochastic frontier model (SPSF) in which components of the technology and of technical efficiency are represented using semi-parametric methods and estimated in a Bayesian framework. The approach is illustrated in an application to US farm data. The analysis shows important scale economies for small and medium herds and constant return to scale for larger herds. With the exception of labor, estimates of marginal products were close to the value expected under profit maximization. Finally, the results suggest important opportunities to increase productivity through reductions in technical inefficiencies.
Tipo: Working or Discussion Paper
Palavras-chave: Productivity Analysis; Research and Development/Tech Change/Emerging Technologies; Research Methods/ Statistical Methods.
Ano: 2010
URL: http://purl.umn.edu/92251

AN ANALYSIS OF THE ROLE OF FUTURES PRICES, CASH PRICES AND GOVERNMENT PROGRAMS IN ACREAGE RESPONSE
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Pope,   Rulon D.; Kao,   Robert S.
An integrated investigation of futures price, cash price, and government programs is presented in the context of an econometric model of acreage supply response for U.S. corn and soybeans.  The analysis refines the role of different sources of price information in the farmers' acreage decision.  It is found that the government corn support price program plays a major role in corn and soybean production decisions.  Also, the results indicate that futures prices are not good proxies for expected future cash prices in the presence of government programs.  This raises questions about the information efficiency of futures prices when government intervenes in the market place.
Tipo: Journal Article
Palavras-chave: Crop Production/Industries.
Ano: 1983
URL: http://purl.umn.edu/32481

INTERREGIONAL ANALYSIS OF THE IMPACTS OF DEREGULATION ON U.S. DAIRY SECTOR
Provedor de dados: 31
Autores: Cox,   Thomas L.; Chavas,   Jean-Paul.
The late 1990's is a period of substantive change in U.S. dairy policy with respect to import quotas, export subsidies, and classified pricing under state and federal milk marketing orders.  An interregional model of the U.S. dairy sector is used to provide quantitative measures of the regional impacts of alternative deregulation scenarios.
Tipo: Conference Paper or Presentation
Palavras-chave: Agricultural and Food Policy; Livestock Production/Industries.
Ano: 1998
URL: http://purl.umn.edu/20900

An Analysis of Pricing in the U.S. Cotton Seed Market
Provedor de dados: 31
Autores: Shi,   Guanming; Stiegert,   Kyle W.; Chavas,   Jean-Paul.
The purpose of the research in this paper is to investigate the impact of differentiated vertical strategies by agricultural biotechnology firms in the U.S. cottonseed market. The model advances the measurement of industry concentration to consider substitution/complementarity relationships among differentiated products delivered under different vertical structures. We find evidence of sub-additive pricing in the stacking of bundled biotech traits. Prices paid by farmers for cottonseed sold under vertical integration are found to be higher than under licensing. The model is flexible and allows for evaluation of the effects of changing market structures. The parameters on traditional measures of concentration indicate that higher concentration leads to...
Tipo: Conference Paper or Presentation
Palavras-chave: Modal Vertical Strategy; Imperfect competition; Cotton seed; Biotechnology; Agricultural and Food Policy; Demand and Price Analysis; Industrial Organization; L13; L4; L65.
Ano: 2009
URL: http://purl.umn.edu/51617

Price Discrimination and EU Dairy Policy: An Economic Evaluation of Policy Options
Provedor de dados: 31
Autores: Bouamra-Mechemache,   Zohra; Chavas,   Jean-Paul; Cox,   Thomas L.; Requillart,   Vincent.
In a period of market liberalization and multilateral trade negotiations, price discrimination for commodities with distinct markets provides additional policy options to support farm income. While both the USA and Canada have implemented price discrimination policies in their domestic dairy sector, so far the European Union (EU) has not. This paper evaluates the options of developing a price discrimination policy in the EU dairy sector. The analysis is based on an interregional model of the EU dairy sector, involving milk production, dairy processing, and consumption of ten dairy commodities in nine regions. The paper shows that a price discrimination policy that increases prices for commodities with more inelastic demand (fluid milk, soft dairy products)...
Tipo: Conference Paper or Presentation
Palavras-chave: EU; Price discrimination; Pooling; Dairy policy; Demand and Price Analysis.
Ano: 2002
URL: http://purl.umn.edu/24899

PRICE DYNAMICS IN A VERTICAL SECTOR: THE CASE OF BUTTER
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Mehta,   Aashish.
We develop a reduced-form model of price transmission in a vertical sector, allowing for refined asymetric, contemporaneous and lagged, own and cross price effects. The model is used to analyze wholesale-retail price dynamics in the US butter market. The analysis provides strong evidence of asymmetric price transmissions. It documents the complex nature of nonlinear price dynamics in a vertical sector and its implications for the distribution of future prices. It finds evidence that the asymmetric response to shocks is stronger in the sort run for retail prices, and in the longer run for wholesale prices.
Tipo: Working or Discussion Paper
Palavras-chave: Demand and Price Analysis.
Ano: 2002
URL: http://purl.umn.edu/12676

SUPPLY RESPONSE OF WEST AFRICAN AGRICULTURAL HOUSEHOLDS: IMPLICATIONS OF INTRAHOUSEHOLD PREFERENCE HETEROGENEITY
Provedor de dados: 31
Autores: Smith,   Lisa C.; Chavas,   Jean-Paul.
This paper explores the implications of preference heterogeneity between wives and husbands in nonresource-pooling rural West African households for the effect of crop price changes on agricultural production, i.e., their supply response. A "semicooperative" game-theoretic model of household decisionmaking, in which household members make unilateral time and income allocation decisions and negotiate over who controls these resources, is proposed. The model is used to show that Pareto efficiency in both production and consumption do not hold. It is then employed to simulate the supply response to cotton price increases accompanying agricultural sector liberalization in Burkina Faso in the early 1980s. The simulated semi-cooperative model predicts the cotton...
Tipo: Working or Discussion Paper
Palavras-chave: Consumer/Household Economics.
Ano: 1999
URL: http://purl.umn.edu/94519

A POOLED TIME-SERIES CROSS-SECTION ANALYSIS OF LAND PRICES
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Shumway,   C. Richard.
Based on a theoretical formulation of land price formation as an economic rent to a fixed input, a single equation econometric model is specified and estimated to explain land prices in five Iowa crop reporting districts.  It identifies the influence of farm prices, inflationary pressures, and land quality on the price of land.
Tipo: Journal Article
Palavras-chave: Land Economics/Use.
Ano: 1982
URL: http://purl.umn.edu/32424

Wal-Mart, Private Labels, and Supermarket Milk Prices
Provedor de dados: 31
Autores: Cleary,   Rebecca; Chavas,   Jean-Paul.
Tipo: Conference Paper or Presentation
Palavras-chave: Wal-Mart; Private labels; Strategic reactions; Agricultural and Food Policy; Demand and Price Analysis.
Ano: 2010
URL: http://purl.umn.edu/61060

AGRO-BIODIVERSITY AND AGRICULTURAL POLICIES IN AN UNCERTAIN ENVIRONMENT
Provedor de dados: 31
Autores: Di Falco,   Salvatore; Chavas,   Jean-Paul.
Recently,  financial assistance to farms has been widely under scrutiny. Agricultural assistance has an important impact on farmers' production decisions and those decisions in turn affect resources use or environmental quality. Surprisingly, the impact of agricultural policies on agro-biodiversity has been relatively neglected.  This paper purports a novel framework  to analyze  the role of crop biodiversity on the mean and the variance of farm revenues. Further, the potential use of this framework in studying the impact of  farm financial assistance to crop biodiversity loss is investigated.
Tipo: Conference Paper or Presentation
Palavras-chave: Agricultural and Food Policy.
Ano: 2004
URL: http://purl.umn.edu/20420

Farmer management of production risk on degraded lands: the role of wheat genetic diversity in Tigray Region, Ethiopia
Provedor de dados: 31
Autores: Di Falco,   Salvatore; Chavas,   Jean-Paul; Smale,   Melinda.
This paper investigates the effects of wheat genetic diversity and land degradation on risk and agricultural productivity in less favored production environments of a developing agricultural economy. Drawing production data from household survey conducted in the highlands of Ethiopia, we estimate a stochastic production function to evaluate the effects of variety richness, land degradation, and their interaction on the mean and the variance of wheat yield. Ethiopia is a centre of diversity for durum wheat and farmers manage complex variety mixtures on multiple plots. Econometric evidence shows that variety richness increases farm productivity. Variety richness also reduces yield variability but only for high levels of genetic diversity. Simulations with...
Tipo: Report
Palavras-chave: Land degradation; Wheat production; Productivity; Risk; Genetic diversity; Household surveys; Biodiversity; Stochastic analysis; Crop Production/Industries; Risk and Uncertainty.
Ano: 2006
URL: http://purl.umn.edu/55417

IMPACT OF DOMESTIC FOOD PROGRAMS ON NUTRIENT INTAKE OF LOW-INCOME PERSONS IN THE UNITED STATES
Provedor de dados: 31
Autores: Chavas,   Jean-Paul; Keplinger,   Keith O.
Tipo: Journal Article
Palavras-chave: Food Consumption/Nutrition/Food Safety; Food Security and Poverty.
Ano: 1983
URL: http://purl.umn.edu/30228

A DYNAMIC ANALYSIS OF THE EFFECTS OF A PRICE SUPPORT PROGRAM ON PRICE DYNAMICS AND PRICE VOLATILITY
Provedor de dados: 31
Autores: Kim,   Kwansoo; Chavas,   Jean-Paul.
This study presents an econometric analysis of the effects of a government price support program on price dynamics and price volatility.  Price support programs, a common feature of agricultural policy, provide a lower-bound censoring of the distribution of market prices.  An econometric model of market prices is developed using a dynamic Tobit specification under time-varying volatility.  The model is applied to the U.S. non-fat dry milk market.  It is used to investigate the impact of market liberalization on price dynamics and price volatility in the presence of private and public stocks.  The econometric results show how the price support program and stocks (both private and public) affect expected price volatility.
Tipo: Journal Article
Palavras-chave: Agricultural and Food Policy.
Ano: 2002
URL: http://purl.umn.edu/31133

Research and Development at U.S. Research Universities: An Analysis of Scope Economies
Provedor de dados: 31
Autores: Kim,   Kwansoo; Barham,   Bradford L.; Chavas,   Jean-Paul; Foltz,   Jeremy D.
This paper investigates the presence and sources of economies of scope in R&amp;D production at U.S. research universities.  The analysis evaluates the tradeoffs or synergies arising between traditional university research outputs (articles and doctorates) and a more recent and burgeoning output: academic patents. Using a shortage function, we propose a decomposition of economies of scope (decomposition which includes complementarity effects and scale effects). R&amp;D input and output data from 92 public and private research universities are used to obtain non-parametric estimates of scope economies. The results show significant variations in economies of scope and sources by size and type of university.
Tipo: Conference Paper or Presentation
Palavras-chave: Research and Development/Tech Change/Emerging Technologies.
Ano: 2005
URL: http://purl.umn.edu/19147

On the Productive Value of Biodiversity
Provedor de dados: 31
Autores: Chavas,   Jean-Paul.
The paper investigates the value of biodiversity as it relates to the productive value of services provided by an ecosystem. It analyzes how the value of an ecosystem can be "greater than the sum of its parts." First, it proposes a general measure of the value of biodiversity. Second, this measure is decomposed into four components, reflecting the role of complementarity, scale, convexity, and catalytic effects. This provides new information on the sources and determinants of biodiversity value. Third, the paper examines the role of uncertainty. In this context, the role of risk and of downside-risk exposure and their effects on the value of biodiversity are explored. This provides useful insights on how management and policy decisions can affect the value...
Tipo: Conference Paper or Presentation
Palavras-chave: Biodiversity; Productive value; Complementarity; Scale; Convexity; Catalytic effect; Uncertainty; Environmental Economics and Policy; D6; Q2; Q5.
Ano: 2006
URL: http://purl.umn.edu/21280