Consulta: subjectFacets:"C15"
Registros recuperados: 37
Data/hora: 09/06/2024 04:11:14

Economic Comparison of Commodity and Conservation Program Benefits: An Example from the Mississippi Delta
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Anderson,   John D.; Parkhurst,   Gregory M.
Changes to commodity programs in the 2002 Farm Bill increased the value of crop base acreages on which decoupled payments are received.  The bill also expanded the availability of key conservation programs.  This paper compares the value of payments from commodity programs (along with continued crop production) to the easement payment (and recreational lease revenue) available under the Wetland Reserve Program.  A net present value model using risk-adjusted returns is employed in the analysis for Mississippi delta cropland containing rice, cotton, and soybean base.  Sensitivity analysis is conducted on some of the key variables affecting the decision.
Tipo: Journal Article
Palavras-chave: Conservation; Countercyclical payment; Direct payment; Net present value; WRP; Q12; Q15; Q18; C15.
Ano: 2004
URL: http://purl.umn.edu/43390

Cointegration Analysis of Commodity Prices: Much Ado about the Wrong Thing?
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Mallory,   Mindy L.; Lence,   Sergio H.
This study highlights some problems with using the Johansen cointegration statistics on data containing a negative moving average (NMA) in the error term of the data generating process. We use a Monte Carlo experiment to demonstrate that the asymptotic distribution of the Johansen cointegration statistics is sensitive to the NMA parameters and that using the stated 5% critical values results in severe size distortion. In our experiment, using the asymptotic critical values resulted in empirical size of 76% in the worst case. To date a NMA in the error term was known to cause poor small sample performance of the Johansen cointegration statistics; however our study demonstrates that problems associated with a NMA in the error term do not improve as sample...
Tipo: Conference Paper or Presentation
Palavras-chave: Cointegration; Johansen cointegration test; Moving average; Agricultural Finance; Financial Economics; C32; C15.
Ano: 2010
URL: http://purl.umn.edu/61721

Production Inefficiency in Fed Cattle Marketing and the Value of Sorting Pens into Alternative Marketing Groups Using Ultrasound Technology
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Koontz,   Stephen R.; Hoag,   Dana L.; Brethour,   John R.; Walker,   Jodine L.
The cattle industry batch markets animals in pens. Because of this, animals within any one pen can be both underfed and overfed. Thus, there is a production inefficiency associated with batch marketing. We simulate the value of sorting animals through weight and ultrasound measurements from original pens into smaller alternative marketing groups. Sorting exploits the production inefficiency and enables cattle feeding enterprises to avoid meat quality discounts, capture premiums, more efficiently use feed resources, and increase returns. The value of sorting is between $15 and $25 per head, with declining marginal returns as the number of sort groups increases.
Tipo: Journal Article
Palavras-chave: Cattle feeding; Production efficiency; Simulation; Sorting; Value-based marketing; Ultrasound; Agribusiness; Livestock Production/Industries; Marketing; Research and Development/Tech Change/Emerging Technologies; C15; D21; D23; Q12.
Ano: 2008
URL: http://purl.umn.edu/47266

Targeting the poor and smallholder farmers: empirical evidence from Malawi
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Houssou,   Nazaire; Zeller,   Manfred.
This paper develops low cost, reasonably accurate, and simple models for improving the targeting efficiency of development policies in Malawi. Using a stepwise logistic regression (weighted) along with other techniques applied in credit scoring, the research identifies a set of easily observable and verifiable indicators for correctly predicting whether a household is poor or not, based on the 2004-05 Malawi Integrated Household Survey data. The predictive power of the models is assessed using out-of-sample validation tests and receiver operating characteristic curves, whereas the model’s robustness is evaluated by bootstrap simulation methods. Finally, sensitivity analyses are performed using the international and extreme poverty lines. The models...
Tipo: Working or Discussion Paper
Palavras-chave: Malawi; Poverty targeting; Proxy means tests; Out-of-sample tests; Bootstrap; Food Security and Poverty; Research Methods/ Statistical Methods; I32; C15.
Ano: 2009
URL: http://purl.umn.edu/57988

Plagiarism Without Apology--Systematic Integration of Available Information in a Long Run Agricultural Outlook
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Witzke,   Heinz Peter; Britz,   Wolfgang.
In the context of a long run agricultural outlook on behalf of the European Environmental Agency a new methodology has been developed to systematically integrate external forecasts into a quite detailed agricultural sector model. External forecasts usually provide estimates for the exogenous variables in modelling work and frequently they are also used for comparisons and potential reassessment of empirical specifications. The innovative characteristic of this study is that expert forecasts have been used to specify parameter changes expressing structural change affecting behavioural functions. The outlook was therefore set up as a simultaneous estimation and forecasting effort which permitted to integrate various, usually contradictory expert forecasts...
Tipo: Conference Paper or Presentation
Palavras-chave: Agricultural outlook; Forecasting; Modelling; Expert information; Agricultural and Food Policy; C15; C53; Q11; Q19; Q21.
Ano: 2005
URL: http://purl.umn.edu/24666

Consumer's WTP for Environment-Friendly Production Methods and Collective Reputation for Place of Origin: The Case of Val di Gresta's Carrots
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Scarpa,   Riccardo; Thiene,   Mara; Marangon,   Francesco.
This paper investigates preferences for various environment-friendly production system for carrots using discretechoice multi-attribute stated-preference data amongst buyers and explore the effect of collective reputations from growers of an Alpine valley known to be completely dedicated to organic production. Results show that buyers distinctly recognize only organic production as a production system different from the conventional one, and there is some evidence of recognition of collective reputation. As well as for marginal utility of income, substantial unobserved heterogeneity is found for many skin imperfections, origin from the organic Alpine valley and the organic production methods. The implied sample distributions of WTP for each of these random...
Tipo: Conference Paper or Presentation
Palavras-chave: Choice modelling; Mixed logit; Organic products; Marginal utility of income; Unobserved taste heterogeneity; Status-quo bias; Heteroskedasticity; Crop Production/Industries; Environmental Economics and Policy; C15; C25; Q13; Q18.
Ano: 2006
URL: http://purl.umn.edu/25637

Grain Contracting Strategies to Induce Delivery and Performance in Volatile Markets
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Wilson,   William W.; Dahl,   Bruce L.
One of the impacts of higher prices along with greater volatility in futures and basis is that there is pressure for an escalation in cash contracting for grain. This volatility has resulted in an unprecedented level of contracting with growers in recent years. There is a wide array of cash contracts with varying terms. There is also a growing realization of growers not delivering on contracts, in part due to escalation in postcontract prices. These are evolving as major strategic issues for buyers and the marketing system, particularly as buyers seek to use such contracting strategies as an element of risk mitigation. There are three purposes of this article. First is to provide a broad survey of contract terms used in grain contracting with growers....
Tipo: Journal Article
Palavras-chave: Grain contracting; Risk; Volatility; Agribusiness; Crop Production/Industries; Farm Management; Production Economics; Risk and Uncertainty; C15; D81; Q12.
Ano: 2009
URL: http://purl.umn.edu/53082

Grain Contracting Strategies to Induce Delivery and Performance in Volatile Markets
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Wilson,   William W.
One of the impacts of higher prices along with greater volatility in futures and basis is that there is pressure for an escalation in cash contracting for grain. This volatility has resulted in an unprecedented level of contracting with growers for specific purchases in recent years. There is a wide array of cash contracts with varying terms. Beyond that array, there is also a growing realization of growers not delivering on contracts, in part due to escalation in post-contract prices. This realization is evolving as a major strategic issue for buyers and the marketing system, particularly as buyers seek to use such contracting strategies as an element of risk mitigation. There are three purposes of this article. First is to provide a broad survey of...
Tipo: Report
Palavras-chave: Crop Production/Industries; Farm Management; Financial Economics; C15; D81; Q12.
Ano: 2009
URL: http://purl.umn.edu/55084

HEDONIC PRICE FUNCTIONS: GUIDANCE ON EMPIRICAL SPECIFICATION
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Kuminoff,   Nicolai V.; Parmeter,   Christopher F.; Pope,   Jaren C.
The hedonic pricing model is widely accepted as a method for estimating the marginal willingness to pay for spatially delineated amenities. Empirical applications typically rely on one of three functional forms—linear, semi-log, and double-log—and rarely involve rigorous specification testing. This phenomenon is largely due to an influential simulation study by Cropper, Deck and McConnell (CDM) (1988) that found, among other things, that simpler linear specifications outperformed more flexible functional forms in the face of omitted variables. In the 20 years that have elapsed since their study, there have been major computational advances and significant changes in the way hedonic price functions can be estimated. The purpose of our paper is to update and...
Tipo: Conference Paper or Presentation
Palavras-chave: Hedonic; Functional Form; Monte Carlo Simulation; Property Value Model; Demand and Price Analysis; Land Economics/Use; Research Methods/ Statistical Methods; Q15; Q51; Q53; C15; R52.
Ano: 2008
URL: http://purl.umn.edu/6555

A Robust Multivariate Long Run Analysis of European Electricity Prices
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Bosco,   Bruno; Parisio,   Lucia; Pelagatti,   Matteo; Baldi,   Fabio.
This paper analyses the interdependencies existing in wholesale European electricity prices. The results of a multivariate long run dynamic analysis of weekly median prices reveal the presence of a strong although not perfect integration among some neighboring markets considered in the sample and the existence of common long-term dynamics of electricity prices and gas prices but not oil prices. The existence of long-term dynamics among gas prices and electricity prices may prove to be important for long-term hedging operations to be conducted even in markets where there are no electricity derivatives.
Tipo: Working or Discussion Paper
Palavras-chave: European Electricity Prices; Cointegration; Interdependencies; Equilibrium Correction Model; Oil Prices; Resource /Energy Economics and Policy; C15; C32; D44; L94; Q40.
Ano: 2007
URL: http://purl.umn.edu/7438

Looking for Rational Bubbles in Agricultural Commodity Markets
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Gutierrez,   Luciano.
In this paper, we use a bootstrap methodology to helps us to compute the finite sample probability distribution of the asymptotic tests recently proposed in Phillips et al. (2009b) and Phillips and Yu (2009c). Simulation shows that the bootstrap methodology works well and allows us to identify explosive processes and collapsing bubbles. We apply the bootstrap procedure to the wheat and rough rice commodity prices. We find some evidence of price exuberance for both prices in the 2007-2008 period.
Tipo: Presentation
Palavras-chave: Rational Speculative Bubbles; Bootstrap; Unit Root Tests; Commodity Prices.; Marketing; G14; Q14; C12; C15.
Ano: 2011
URL: http://purl.umn.edu/120377

Financial and Risk Management Assistance: Decision Support for Agriculture
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Klose,   Steven L.; Outlaw,   Joe L.
The Financial and Risk Management (FARM) Assistance program created by Texas Cooperative Extension is a strategic analysis service offered to farmers and ranchers in Texas.  The program serves as an example of large-scale, focused programming by extension agencies, as well as the implementation of technical stochastic simulation methods for use on the farm.
Tipo: Journal Article
Palavras-chave: Decision information; Decision support system; Extension programming; Farm level analysis; Outreach; Simulation; Q16; Q12; C15; D83.
Ano: 2005
URL: http://purl.umn.edu/43516

A Bayesian Total Factor Productivity Analysis of Tropical Agricultural Systems in Central-Western Africa And South-East Asia
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Tonini,   Axel; Matus,   Silvia Saravia; Gomez y Paloma,   Sergio.
This paper computes and analyses total factor productivity (TFP) growth rates for tropical agricultural systems in Central-Western Africa and South-East Asia. Two regions that despite sharing common agro-ecological conditions, have pursued different adoption rates of green revolution technology and have reported dissimilar yields per hectare. A panel data set is constructed for the period 1987-2007 from the FAOSTAT database. A Bayesian stochastic frontier model with country specific temporal variation in technical efficiency is estimated. Technical efficiency estimates reveal that there is substantial room for improvement in both continental sub-sets and that TFP estimates show on average larger rates of growth for South-East Asian countries as compared to...
Tipo: Conference Paper or Presentation
Palavras-chave: Bayesian Inference; Stochastic Production Frontier; Time Varying Technical Inefficiency; Total Factor Productivity Growth; Tropical Agricultural Systems; Farm Management; Productivity Analysis; C15; D24; O47.
Ano: 2011
URL: http://purl.umn.edu/116088

Web Delivery of a Monte Carlo Simulation Model: The Base and Yield Analyzer Experience
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Richardson,   James W.; Outlaw,   Joe L.
The provision for producers to update base acres and payment yields in the 2002 farm bill afforded an opportunity to test whether it was feasible to deliver a complex simulation model directly to producers.  A Monte Carlo simulation model for assessing the economic impacts of the alternative base and yield options on individual farms was developed and made available to producers via the World Wide Web.  The experiences and challenges from this collaborative extension and research effort are described, as well as the issues educators might consider before delivering complex software to a national audience via the Web.
Tipo: Journal Article
Palavras-chave: Base and yield update; 2002 farm bill; Monte Carlo simulation; C15; D83; Q12; Q16.
Ano: 2005
URL: http://purl.umn.edu/43517

The Takayama and Judge Price and Allocation Models and its application in non-linear Price Transmission Analysis Approaches
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Araujo-Enciso,   Sergio Rene.
Tipo: Working or Discussion Paper
Palavras-chave: Demand and Price Analysis; Research Methods/ Statistical Methods; C15; C18; C62.
Ano: 2011
URL: http://purl.umn.edu/103432

Standard and Shuffled Halton Sequences in a Mixed Logit Model
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Staus,   Alexander.
Modeling consumer choice in different areas has lead to an increase use of discrete choice models. Probit or Multinomial Logit Models are often the base of further empirical research of consumer choice. In some of these models the equations to solve have no closed-form expression. They include multi-dimensional integrals which can not be solved analytically. Simulation methods have been developed to approximate a solution for these integrals. This paper describes the Standard Halton sequence and a modification of it, the Shuffled Halton sequence. Both are simulation methods which can reduce computational effort compared to a random sequence. We compare the simulation methods in their coverage of the multi-dimensional area and in their estimation results...
Tipo: Working or Discussion Paper
Palavras-chave: Simulation; Mixed logit; Halton sequence; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; C15; C25.
Ano: 2008
URL: http://purl.umn.edu/93856

Analyzing Producer Preferences for Counter-Cyclical Government Payments
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Miller,   J. Corey; Barnett,   Barry J.; Coble,   Keith H.
A dynamic-stochastic model is developed to evaluate preferences among alternative countercyclical payment programs for representative farms producing corn or soybeans in Iowa and cotton or soybeans in Mississippi.  Countercyclical payment programs are found to not necessarily be preferred to fixed payment programs.
Tipo: Journal Article
Palavras-chave: Agricultural policy; Bootstrapping; Countercyclical payments; Nonparametric; C15; D81; Q12; Q18.
Ano: 2003
URL: http://purl.umn.edu/43203

Georeferenced Assessment of Trade Liberalization Effects on Agriculture in Ecuador
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Ludena,   Carlos E.; Schuschny,   Andres; de Miguel,   Carlos; Duran Lima,   Jose E.
As the use of global and national computable general equilibrium (CGE) models has become more widespread, most policies still remain at the regional or sub-national level. This level of disparity requires an approach that bridges the gap between national results and sub-national policies. This study provides a methodology that combines micro-level information and the results of a CGE model with geographical information to spatially map the effects of trade liberalization on the agricultural sector. This methodology enables to distribute changes in value of production for each production unit according to the importance of a specific crop in the political administrative unit. These results show the geographic effects of the FTA on Ecuador's agriculture, and...
Tipo: Conference Paper or Presentation
Palavras-chave: Geographic Information Systems (GIS); Computable general equilibrium (CGE); Trade liberalization; Agriculture; Agricultural and Food Policy; International Relations/Trade; C15; R12; Q17.
Ano: 2009
URL: http://purl.umn.edu/50556

Two Ways of Estimating a Transport Model
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Jansson,   Torbjorn.
In this article, it is shown how the parameters of a transport model can be estimated in a way that, in contrast to previously used methods, utilizes observations of regional prices as well as of trade costs. The proposed method uses bi-level programming to minimize a weighted least squares’ criterion under the restriction that the estimated parameters satisfy the Kuhn-Tucker conditions for an optimal solution of the transport model. We use Monte-Carlo simulations to trace out some properties of the estimator and compare it with a traditional calibration method. The analysis shows that the proposed technique estimates prices as well as trade costs more efficiently.
Tipo: Working or Discussion Paper
Palavras-chave: Spatial equilibrium; Transport model; Bi-level programming; Research Methods/ Statistical Methods; C15; F11.
Ano: 2005
URL: http://purl.umn.edu/18787

Meta Analysis in Model Implementation: Choice Sets and the Valuation of Air Quality Improvements
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Banzhaf,   H. Spencer; Smith,   V. Kerry.
We document the sensitivity of welfare estimates derived from discrete choice models to assumptions about the choice set. Such assumptions can affect welfare estimates through both the estimated parameters of the model and, conditional on the parameters, the substitution among alternatives. Our analysis involves estimates of the benefits of air quality improvements in Los Angeles based on discrete choices of neighborhood and housing. We further illustrate the use of meta analysis to document and summarize voluminous information derived from repeated sensitivity analyses.
Tipo: Working or Discussion Paper
Palavras-chave: Meta analysis; Random utility model; Choice set; Air quality; Housing; Environmental Economics and Policy; C15; Q25; R21.
Ano: 2003
URL: http://purl.umn.edu/10453

One-and-One-Half Bound Dichotomous Choice Contingent Valuation
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Cooper,   Joseph C.; Hanemann,   W. Michael; Signorello,   Giovanni.
To reduce the potential for response bias on the follow-up bid in multiple-bound discrete choice CVM questions while maintaining much of the efficiency gains of the multiple-bound approach, we introduce the one-and-one-half-bound (OOHB) approach. Despite the fact that the OOHB model uses less information than the double-bound (DB) approach, efficiency gains in moving from single-bound to OOHB capture a large portion of the gain associated with moving from single-bound to DB. In an analysis of survey data, our OOHB estimates demonstrated higher consistency with respect to the follow-up data than the DB estimates and were more efficient as well.
Tipo: Working or Discussion Paper
Palavras-chave: Resource /Energy Economics and Policy; Q20; Q26; C15; C25.
Ano: 2001
URL: http://purl.umn.edu/25003

Testing for linear and threshold cointegration under the spatial equilibrium condition
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Araujo-Enciso,   Sergio Rene.
Economic theory states that the spatial equilibrium condition is a region where prices can be or not cointegrated. It is when prices are within such a region when they are no cointegrated, when prices are in its boundaries they are not only cointegrated but also fulfilling the Law of One Price (LOP). Nonetheless the econometric techniques assume a mean reverting process in order to test for cointegration, either linear or non linear.  This research shows that in the absence of such mean reverting process by using prices in pure equilibrium, cointegration (linear and non linear) is often rejected. Such findings go in line with the Band Threshold Autoregressive Model where the neutral band is a region of no cointegration. Furthermore it can be concluded that...
Tipo: Presentation
Palavras-chave: Spatial Equilibrium Condition; Testing Cointegration; Demand and Price Analysis; Risk and Uncertainty; C15; E37.
Ano: 2012
URL: http://purl.umn.edu/122545

Optimal Grain Marketing Revisited: A German and Polish Perspective
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Loy,   Jens-Peter; Pieniadz,   Agata.
Increasing grain price volatility over the last year has revived the discussion on optimal marketing strategies. Various models of optimal grain marketing have been proposed and simulated in the literature. In this study an overview on these models is presented and critical aspects are discussed. Optimal strategies are then applied to the wheat market in Germany and Poland. Results indicate that gains from optimal marketing are rather small and uncertain in the real world, indicating that scientific assistance might be of limited importance. However, an understanding of optimization and price generating processes is likely to improve farmers’ decisions, e.g. if farmers have additional (private) information to improve price forecasts.
Tipo: Conference Paper or Presentation
Palavras-chave: Grain Marketing; Storage; Germany; Poland; Agribusiness; Crop Production/Industries; Demand and Price Analysis; Industrial Organization; Marketing; Q13; D81; C15; C22.
Ano: 2009
URL: http://purl.umn.edu/51058

Hog Options: Contract Redesign and Market Efficiency
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Urcola,   Hernan A.; Irwin,   Scott H.
This article tests the efficiency of the hog options market and assesses the impact of the 1996 contract redesign on efficiency. We find that the hog options market is efficient, but some options yielded excess returns during the live hogs period but not during the lean hogs period. Our findings indicate that the hog options market is efficient and is consistent with the new contract improving the efficiency of the market. However, other market conditions such as lower transaction costs during the lean hogs period can also contribute to reduce expected option returns during the latter period.
Tipo: Journal Article
Palavras-chave: Hog options; Mispricing perceptions; Contract redesign; Trading returns; Agribusiness; Agricultural Finance; Crop Production/Industries; Demand and Price Analysis; Farm Management; Financial Economics; Livestock Production/Industries; Marketing; Production Economics; Productivity Analysis; Public Economics; Research Methods/ Statistical Methods; C15; G12; G14; Q13.
Ano: 2010
URL: http://purl.umn.edu/100518

El valor de la flexibilidad en la valoracion de inversiones acuícolas
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Sempere,   Loreto Pardo; Alcaide,   Jose Javier Rodriguez.
Las fuertes inversiones iniciales que son necesarias para comenzar una actividad acuícola, unidas al período tan dilatado del ciclo de explotación y al riesgo que esta actividad comporta, son situaciones que comprometen el futuro de la actividad cuya continuidad pasa necesariamente por la consecución de la viabilidad económica. Por ello, es importante prestar atención a los estudios que justifiquen esta viabilidad económica considerando aspectos tales como la propia flexibilidad operativa o el valor estratégico que tiene cada proyecto de inversión, a menudo considerados factores críticos para la supervivencia. Desde esta perspectiva, se pone de manifiesto la necesidad y la oportunidad de la investigación, basado en la aplicación del método de Opciones...
Tipo: Journal Article
Palavras-chave: Aquaculture; Real Options; Risk; Flexibility in operations; Risk and Uncertainty; B41; C15; D81.
Ano: 2005
URL: http://purl.umn.edu/28786

Carbon Mitigation Costs for the Commercial Sector: Discrete-Continuous Choice Analysis of Multifuel Energy Demand
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Newell,   Richard G.; Pizer,   William A.
We estimate a carbon mitigation cost curve for the U.S. commercial sector based on econometric estimation of the responsiveness of fuel demand and equipment choices to energy price changes. The model econometrically estimates fuel demand conditional on fuel choice, which is characterized by a multinomial logit model. Separate estimation of end uses (e.g., heating, cooking) using the 1995 Commercial Buildings Energy Consumption Survey allows for exceptionally detailed estimation of price responsiveness disaggregated by end use and fuel type. We then construct aggregate long-run elasticities, by fuel type, through a series of simulations; own-price elasticities range from -0.9 for district heat services to -2.9 for fuel oil. The simulations form the basis of...
Tipo: Working or Discussion Paper
Palavras-chave: Commercial energy demand; Carbon policy; Climate change; Discrete choice; Resource /Energy Economics and Policy; Q28; Q48; Q41; C35; C15.
Ano: 2005
URL: http://purl.umn.edu/10625

A Nonparametric Kernel Representation of the Agricultural Production Function: Implications for Economic Measures of Technology
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Livanis,   Grigorios T.; Salois,   Matthew J.; Moss,   Charles B.
The issue of production function estimation has received recent attention, particularly in agricultural economics with the advent of precision farming. Yet, the evidence to date is far from unanimous on the proper form of the production function. This paper reexamines the use of the primal production function framework using nonparametric regression techniques.  Specifically, the paper demonstrates how a nonparametric regression based on a kernel density estimator can be used to estimate a production function using data on corn production from Illinois and Indiana. Nonparametric results are compared to common parametric specifications using the Nadaraya-Watson kernel regression estimator. The parametric and nonparametric forms are also compared in terms of...
Tipo: Conference Paper or Presentation
Palavras-chave: Nonparametric regression; Nonparametric derivatives; Gaussian kernel; Optimization techniques; Production function; Production Economics; C14; C15; C16; C61; Q12.
Ano: 2009
URL: http://purl.umn.edu/51063

Simulation in inventory management
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Marcikic,   Aleksandra; Radovanov,   Boris.
In this paper inventory management is analyzed as an organic part of the supply chain managing process. In today’s competitive economic environment traditional inventory policies should be improved. Simulation models enable a priori managing and analyzing variety of possible results and implication of selected inventory policies. The model presented in this paper uses the Monte Carlo simulation method and variables taken as random, in order to depict a harmonization and integration of dynamic quantitative analysis and theoretical, qualitative concepts of inventory management.
Tipo: Journal Article
Palavras-chave: Monte Carlo simulation; Modeling; Inventory management; Supply chain management.; Research and Development/Tech Change/Emerging Technologies; C15; C63.
Ano: 2009
URL: http://purl.umn.edu/94592

A NONPARAMETRIC HYPOTHESIS TEST VIA THE BOOTSTRAP RESAMPLING
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Temel,   Tugrul T.
This paper adapts an already existing nonparametric hypothesis test to the bootstrap framework.  The test utilizes the nonparametric kernel regression method to estimate a measure of distance between the models stated under the null hypothesis.  The bootstraped version of the test allows to approximate errors involved in the asymptotic hypothesis test.
Tipo: Conference Paper or Presentation
Palavras-chave: Hypothesis test; The bootstrap; Nonparametric regression; Omitted variables; Research Methods/ Statistical Methods; C12; C14; C15.
Ano: 2001
URL: http://purl.umn.edu/20600

Estimating State-Contingent Production Functions
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Rasmussen,   Svend; Karantininis,   Kostas.
The paper reviews the empirical problem of estimating state-contingent production functions. The major problem is that states of nature may not be registered and/or that the number of observation per state is low. Monte Carlo simulation is used to generate an artificial, uncertain production environment based on Cobb Douglas production functions with state-contingent parameters. The parameters are subsequently estimated based on different sizes of samples using Generalized Least Squares and Generalized Maximum Entropy and the results are compared. It is concluded that Maximum Entropy may be useful, but that further analysis is needed to evaluate the efficiency of this estimation method compared to traditional methods.
Tipo: Conference Paper or Presentation
Palavras-chave: Maximum entropy; State-contingent; Uncertainty; Production; Monte Carlo simulation; Production Economics; C13; C15; D80.
Ano: 2005
URL: http://purl.umn.edu/24529

Agricultural Technology Adoption and Rural Poverty: Application of an Endogenous Switching Regression for Selected East African Countries
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Asfaw,   Solomon; Shiferaw,   Bekele A.
Achieving agricultural growth and development and thereby improving rural household welfare will require increased efforts to provide yield enhancing and natural resources conserving technologies. Agricultural research and technological improvements are therefore crucial to increase agricultural productivity and thereby reduce poverty. However evaluation of the impact of these technologies on rural household welfare have been very limited by lack of appropriate methods and most of previous research has therefore failed to move beyond estimating economic surplus and return to research investment. This paper evaluates the potential impact of adoption of modern agricultural technologies on rural household welfare measured by crop income and consumption...
Tipo: Conference Paper or Presentation
Palavras-chave: Rural household welfare; Technology adoption; Propensity score matching; Endogenous switching; Ethiopia; Tanzania; Food Security and Poverty; Research and Development/Tech Change/Emerging Technologies; C13; C15; O32; O38.
Ano: 2010
URL: http://purl.umn.edu/97049

Elasticities for U.S. Wheat Food Use by Class
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Marsh,   Thomas L.
We conceptualize wheat for food use as an input into flour production and derive demand functions to quantify price responsiveness and economic substitutability across wheat classes. Cost, price, and substitution elasticities are estimated for hard red winter, hard red spring, soft red wheat, soft white winter, and durum wheat. In general, hard red winter and spring wheat varieties are much more responsive to their own price than are soft wheat varieties and durum wheat. Morishima elasticities indicate that hard red winter and hard red spring wheat are economic substitutes for milling purposes.
Tipo: Conference Paper or Presentation
Palavras-chave: Elasticities; Wheat by class; Economic substitution; Monte Carlo; Food Consumption/Nutrition/Food Safety; C15; C30; Q11.
Ano: 2003
URL: http://purl.umn.edu/57920

A Flexible Parametric Family for the Modeling and Simulation of Yield Distributions
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Ramirez,   Octavio A.; McDonald,   Tanya U.; Carpio,   Carlos E.
The distributions currently used to model and simulate crop yields are unable to accommodate a substantial subset of the theoretically feasible mean-variance-skewness-kurtosis (MVSK) hyperspace. Because these first four central moments are key determinants of shape, the available distributions might not be capable of adequately modeling all yield distributions that could be encountered in practice. This study introduces a system of distributions that can span the entire MVSK space and assesses its potential to serve as a more comprehensive parametric crop yield model, improving the breadth of distributional choices available to researchers and the likelihood of formulating proper parametric models.
Tipo: Journal Article
Palavras-chave: Risk analysis; Parametric methods; Yield distributions; Yield modeling and simulation; Yield nonnormality; Agribusiness; Agricultural Finance; Crop Production/Industries; Land Economics/Use; Production Economics; Productivity Analysis; Research Methods/ Statistical Methods; C15; C16; C46; C63.
Ano: 2010
URL: http://purl.umn.edu/90675

Risk-Adjusted Comparison of Conservation Reserve Program Payments Versus Production Payments for a Corn-Soybean Farmer
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Ibendahl,   Gregory A.
Conservation reserve program (CRP) payments amount to several billion dollars annually.  Payments are allocated to both remove land from production and to help farmers pay for conservation improvements.  However, research examining whether farmers increase their utility with CRPs is limited.  This paper uses simulation analysis and certainty equivalents to compare farming income to payments under the CRP.  Farming income is a combination of crop production and government payments as specified in the 2002 Farm Bill.  This analysis focuses on farms in three different counties in Kentucky.  Results indicate that CRPs are good choices for many farmers.
Tipo: Journal Article
Palavras-chave: Certainty equivalents; Conservation; CRP; Government payments; Risk; Simulation; Q15; Q18; Q16; C15.
Ano: 2004
URL: http://purl.umn.edu/43391

International Trade, Productivity Growth, Education and the Wage Differential: A Case Study of Taiwan
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Chang,   Hsiao-chuan.
The cause of changes in the wage differential between skilled and unskilled labor has been an important subject of debate for several decades. International trade and productivity growth are two main causes that have been suggested from large country studies. Recent research proposes that education is another influence. All three causes have been significantly associated with Taiwan’s economic development. This paper attempts to contribute to the literature by investigating the wage differential in Taiwan, a small open economy. A Dynamic Intertemporal General Equilibrium (DIGE) model is used to perform theoretical simulation. An Error Correction Model (ECM) incorporating both short- and long-run effects is employed to accomplish the empirical examination....
Tipo: Journal Article
Palavras-chave: Wage differential; Dynamic intertemporal general equilibrium model; Error correction model; International Relations/Trade; Labor and Human Capital; C12; C15; C51; F10; F41; H52; J31.
Ano: 2003
URL: http://purl.umn.edu/44011

Private Decisions and Public Goods: Trade-Offs in the Conservation Programs in the New Farm Bill: Discussion
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Davis,   Todd D.
The 2002 Farm Bill creates several opportunities for landowners to adopt management practices that protect and improve soil and water quality.  Landowners considering enrollment in conservation programs must compare the monetary and nonmonetary costs and benefits from removing land from production agriculture.  The overall purpose of this invited paper session was to improve the understanding of the factors affecting a landowner’s decision to enroll in conservation programs.  Papers addressed the environmental benefits of conservation programs and compared the returns to enrolling in conservation programs to the returns from production agriculture.
Tipo: Journal Article
Palavras-chave: Certainty equivalents; Conservation; Econometrics; Government payments; Risk; Simulation; Q18; Q16; C15; C31.
Ano: 2004
URL: http://purl.umn.edu/43417

Agent-Based Modelling and Sensitivity Analysis by Experimental Design and Metamodelling: An Application to Modelling Regional Structural Change
Provedor de dados: Research in Agricultural & Applied Economics (AgEcon Searh)
Autores: Happe,   Kathrin.
This paper presents the application of the sensitivity analysis techniques Design of Experiments (DOE) and metamodelling to the agent-based model AgriPoliS, which is a spatial and dynamic simulation model of regional structural change. DOE and metamodelling provide a more systematic analysis of results of complex simulation models. When summarising the results, it becomes clear that interest rates, technical change and managerial ability influence average economic land rent the most.
Tipo: Conference Paper or Presentation
Palavras-chave: Simulation; Design of experiments; Metamodelling; Structural change; Research and Development/Tech Change/Emerging Technologies; C9; C15.
Ano: 2005
URL: http://purl.umn.edu/24464