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MAGNITUDE ESTIMATION: AN APPLICATION TO FARMERS' RISK-INCOME PREFERENCES AgEcon
Patrick, George F.; Blake, Brian F.; Whittaker, Suzanne H..
Magnitude estimation, a technique developed by psychology for obtaining ratio scaled values, was used to derive risk-income preferences of ninety-one central Indiana farmers. Both variability-income and bankruptcy-income measures were developed and related to farmers' socio-economic attributes. Wealth and education had limited effects compared with off-farm employment, percent debt and expected levels of income, percent debt and net worth growth. Magnitude estimation provided reliable estimates of preferences. Farmers gave greater importance to the bankruptcy-income measure of risk-income preferences, but only a small portion of the variation of either measure could be explained.
Tipo: Journal Article Palavras-chave: Farm Management; Risk and Uncertainty.
Ano: 1981 URL: http://purl.umn.edu/32583
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Networks in Rural Economy: Valorising Endogenous and Exogenous Drivers of Innovation AgEcon
Vermeire, Bert; Gellynck, Xavier; De Steur, Hans; Viaene, Jacques.
Historically, perspectives on the economic development of rural regions have been dominated by the modernization model of agriculture (van der Ploeg and Van Dijk, 1995). During the last decades this model has increasingly been abandoned in an effort to reduce the negative outcomes associated with that model, driven by the changing concerns of consumers and society in response to these outcomes (van der Ploeg, 1999, Weatherell et al., 2003). Parallel to this socioeconomic evolution the theoretical perspectives on rural development altered. Discourses about the evolution of rural development describe the succession of an exogenous, modernist model of rural development by an endogenous model and in the end leading to an integrated model of rural development,...
Tipo: Conference Paper or Presentation Palavras-chave: Agribusiness; Agricultural and Food Policy; Farm Management; Food Consumption/Nutrition/Food Safety; Industrial Organization.
Ano: 2008 URL: http://purl.umn.edu/49846
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Using a Farmer's Beta for Improved Estimation of Actual Production History (APH) Yields AgEcon
Carriquiry, Miguel A.; Babcock, Bruce A.; Hart, Chad E..
The effect of sampling error in estimation of farmers' mean yields for crop insurance purposes is explored using farm-level corn yield data in Iowa from 1990 to 2000 and Monte Carlo simulations. We find that sampling error combined with nonlinearities in the insurance indemnity function will result in empirically estimated crop insurance rates that exceed actuarially fair values by between 2 and 16 percent, depending on the coverage level and the number of observations used to estimate mean yields. Accounting for the adverse selection caused by sampling error results in crop insurance rates that will exceed fair values by between 42 and 127 percent. We propose a new estimator for mean yields based on a common decomposition of farm yields into systemic and...
Tipo: Working or Discussion Paper Palavras-chave: Actual production history (APH); Crop insurance; Mean yields estimation; Sampling error; Farm Management.
Ano: 2005 URL: http://purl.umn.edu/18600
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SOME PROBLEMS OF SOCIAL AND ECONOMIC DEVELOPMENT OF AGRICULTURE AgEcon
Bielik, Peter; Rajcaniova, Miroslava.
Slovak Republic was among ten new members joining European Union in May 2004. Since then the EU accession has influenced the social and economic aspects of life in the country and still continues to do so. The main purpose of this article is to present several problem areas of socio-economic development of Slovak agriculture. In details, we will focus to the position of agriculture in the National economy, development trends of Slovak Agriculture and transformation process, entrepreneurial structure and use of land, economic situation in Agriculture and the development of selected socio-economic indicators in agriculture. Finally, we will mention about the present situation and priorities of the Slovak Agricultural Policy.
Tipo: Book Palavras-chave: Agriculture; Economic and social development; Transformation process; Agricultural and Food Policy; Community/Rural/Urban Development; Farm Management.
Ano: 2008 URL: http://purl.umn.edu/43183
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Analysis of Factors Influencing Adoption of Dairy Technologies In Western Kenya AgEcon
Makokha, Stella Nabwile; Karugia, Joseph Thuo; Staal, Steven J.; Oluoch-Kosura, Willis.
Indicators of poverty in western Kenya show high poverty levels. The area has low dairy development yet the potential for dairy development is quite high. Dairy farming has the potential to reduce poverty by increasing incomes and reducing unemployment. This paper reports factor interrelationships in dairy adoption with a view to understanding factors that influence adoption. The binary probit model was used to analyse data from 1575 households. Contrary to findings from similar studies elsewhere, some factors had a negative association with adoption, thus unfolding a unique adoption process. The association between the factor interactive affects and technology adoption highlighted the importance of exploring factor interrelationships. The widely held...
Tipo: Conference Paper or Presentation Palavras-chave: Adoption; Factor interrelationship; Spatial factors; Agricultural and Food Policy; Demand and Price Analysis; Environmental Economics and Policy; Farm Management; Food Consumption/Nutrition/Food Safety; Food Security and Poverty; International Relations/Trade; Livestock Production/Industries; Marketing; Productivity Analysis; Research and Development/Tech Change/Emerging Technologies.
Ano: 2008 URL: http://purl.umn.edu/52094
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Optimal Tillage and Planting Equipment for Central and Western North Dakota AgEcon
Krenz, Ronald D.; Micheel, Charles C..
Tipo: Report Palavras-chave: Agricultural Finance; Farm Management; Livestock Production/Industries.
Ano: 1974 URL: http://purl.umn.edu/51936
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Testing for Moral Hazard and Ranking Farms by Their Inclination to Collect Crop Damage Compensations AgEcon
Myyra, Sami; Pietola, Kyosti.
This paper tests for the extent of moral hazard problem within a Crop Damage Compensation (CDC) program that is similar to traditional multi peril crop insurances but is publicly funded and openly accessible for all farmers in Finland. We further estimate the potential of using the observed farmer and farm characteristics in ranking and classifying farms according to their incidence towards losses when they are protected. The data are the claimed and granted indemnity payments for each farm over the fifteen year period of 1995-2009. These data are complemented by data on total farm population in 2005. The data suggest that most of the farmers (60%) have not made any claims in the CDC program over the 15 year period. Those farms that claimed compensation...
Tipo: Conference Paper or Presentation Palavras-chave: Farm Management; Risk and Uncertainty.
Ano: 2011 URL: http://purl.umn.edu/114632
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Determinants of farm diversification and interaction with the CAP. An application to FADN of Marche region (Italy) AgEcon
Finocchio, Romina; Esposti, Roberto.
This work analyzes farm diversification activities in an Italian region (Marche). The study examines 387 farms from Farm Accountancy Data Network (FADN) over a six-year period (2000-2005), applying Discrete Choice Models to identify their business. Recognizing the driving forces of such diversification strategy can be useful to better design those agricultural policies explicitly aimed at promoting agricultural multifunctionality as well as social and environmental sustainability. The linkage between diversification choices and CAP payments is thus also investigated.
Tipo: Conference Paper or Presentation Palavras-chave: Farm diversification; Discrete Choice Models; Multifunctionality; Agricultural and Food Policy; Farm Management.
Ano: 2008 URL: http://purl.umn.edu/44251
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CHARACTERIZING UNCERTAIN OUTCOMES WITH THE RESTRICTED HT TRANSFORMATION AgEcon
Moffitt, L. Joe.
Restrictions on the hyperbolic trigonometric (HT) transformation are imposed to guarantee that a probability density function is obtained from the maximum likelihood estimation. Performance of the restricted HT transformation using data generated from normal, beta, gamma, logistic, log-normal, Pareto, Weibull, order statistic, and bimodal populations is investigated via sampling experiments. Results suggest that the restricted HT transformaltion is sufficiently flexible to compete with the actual population distributions in most cases. Application of the restricted HT transformation is illustrated by characterizing uncertain net income per acre for community-supported agriculture farms in the northeastern United States.
Tipo: Journal Article Palavras-chave: Farm management; Hyperbolic trigonometric transformation; Uncertainty; Farm Management; C2; Q1.
Ano: 2002 URL: http://purl.umn.edu/15074
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Live and Feeder Cattle Options Markets: Returns, Risk, and Volatility Forecasting AgEcon
Brittain, Lee; Garcia, Philip; Irwin, Scott H..
The paper examines empirical returns from holding thirty- and ninety-day call and put positions, and the forecasting performance of implied volatility in the live and feeder cattle options markets. In both markets, implied volatility is an upwardly biased and inefficient predictor of realized volatility, with bias most prominent in live cattle. While significant returns exist holding several market positions, most strategies are strongly affected by a drift in futures market prices. However, the returns from selling live cattle puts are persistent, and evidence from straddle returns identifies that the market overprices volatility. This overpricing is consistent with a short-term risk premium whose effect is magnified by extreme changes in market conditions.
Tipo: Conference Paper or Presentation Palavras-chave: Live cattle; Feeder cattle; Options; Returns; Risk; Volatility forecasting; Agribusiness; Agricultural and Food Policy; Agricultural Finance; Community/Rural/Urban Development; Farm Management; Financial Economics; Livestock Production/Industries; Marketing; Research Methods/ Statistical Methods.
Ano: 2009 URL: http://purl.umn.edu/53038
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ANNUAL REPORT OF THE FARM MANAGEMENT SERVICE FOR FARMERS IN SOUTHEAST MINNESOTA FOR THE YEAR 1937 AgEcon
Ranney, W.P.; Pond, George A..
Tipo: Working or Discussion Paper Palavras-chave: Farm Management.
Ano: 1938 URL: http://purl.umn.edu/13118
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SOUTHWESTERN MINNESOTA FARM MANAGEMENT ASSOCIATION 1966 ANNUAL REPORT AgEcon
Nodland, Truman R..
Tipo: Working or Discussion Paper Palavras-chave: Farm Management.
Ano: 1967 URL: http://purl.umn.edu/13163
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Customer relationships strategy: an Australian cattle producers’ case study AgEcon
Jie, Ferry.
An analysis of beef supply chains revealed that a strategic focus on beef quality was critical to that part of the chain involving producers. Moreover, beef quality was directly related to customer relationship management. Across the industry, there are a diverse set of customers each with different needs. This means that it is difficult for individual producers to develop a successful approach to customer relationship management without developing a product focus on one or two of these customer segments.
Tipo: Article Palavras-chave: Supply chains; Beef; Australia; Customer relationship management; Farm Management.
Ano: 2010 URL: http://purl.umn.edu/121499
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Virtual Consumption but Real Market. Does your avatar eat or drink on Second Life? AgEcon
Giraud, Georges.
Second Life® (SL) is an innovative digital world created in June 2003 by Linden Lab, a Californian company, acting only on the Internet. The purpose of SL is to provide entertainment via virtual experiences to customers who act, travel, buy and discuss into this world through their own avatar. SL is a 3D interactive combination of improved chat and video game, without any strict rules nor clear objective for the game apart to spent time in virtual reality and to enjoy this experience. SL is the most important Massive Multiplayer Online Role Playing Game (MMORPG).
Tipo: Conference Paper or Presentation Palavras-chave: Digital world; Virtual consumption; Global branding; Food- related consumer behaviour; Agribusiness; Agricultural and Food Policy; Farm Management; Food Consumption/Nutrition/Food Safety; Research and Development/Tech Change/Emerging Technologies; Risk and Uncertainty.
Ano: 2009 URL: http://purl.umn.edu/59114
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Estimating the Impacts of Storage Dry Matter Losses on Switchgrass Production AgEcon
Larson, James A.; Mooney, Daniel F.; English, Burton C.; Tyler, Donald D..
This poster estimates dry matter losses as a function of harvest method, storage treatment, and time in storage. We then calculate the cost to store switchgrass bales under alternate harvest method and storage treatment scenarios; and determine the breakeven harvest method and storage treatment as a function of biomass price and time in storage.
Tipo: Conference Paper or Presentation Palavras-chave: Biomass; Bioenergy crops; Function form; Sustainable systems; Farm Management; Production Economics; Q10; Q42.
Ano: 2010 URL: http://purl.umn.edu/61530
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Ecologically-Based Management of Rodent Pests AgEcon
Tipo: Report Palavras-chave: Farm Management.
Ano: 1999 URL: http://purl.umn.edu/114821
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FARM BUSINESS GOALS AND COMPETITIVE ADVANTAGE AgEcon
Stark, Christopher E.; Moss, Leeann E.; Hahn, David E..
This paper investigates empirically the relationship between both farm business goals and sources of competitive advantage, and various farm and producer characteristics using new primary data collected from a survey of Ohio farmers. Results show that most farmers do not recognize sources of competitive advantage and practice strategy implementation beyond reliance on longstanding paradigms for success within the context of government farm program support and the use of traditional risk management tools. However, several key insights emerge. Farmers who engage in cost leadership strategies are more profitable. Farmers who suggest that the goal of their farming operation is to enhance profitability/efficiency use more management tools, while lifestyle...
Tipo: Conference Paper or Presentation Palavras-chave: Farm Management.
Ano: 2002 URL: http://purl.umn.edu/19618
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Second Annual Report of the Better Farming Club of Freeborn County AgEcon
Ranney, W.P.; Pond, George A.; Bevan, Roland C.; Lawson, W.M..
Tipo: Report Palavras-chave: Farm Management.
Ano: 1930 URL: http://purl.umn.edu/108289
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Would Functional Agricultural Foods Improve Human Health? AgEcon
Traill, W. Bruce; Arnoult, Matthieu H.; Chambers, Stephanie A.; Deaville, E.R.; Gordon, Michael H.; John, P.; Jones, Philip J.; Kliem, K.E.; Mortimer, S.R.; Tiffin, J. Richard.
Concern over diet-health relationships has moved to the forefront of public health concerns in the UK and much of the developed world. It has been estimated, for example, that obesity costs the UK National Health Service up to £6b per year (Rayner and Scarborough, 2005), but if all consumers were to follow recommended healthy eating guidelines there would be major implications for food consumption, land use and international trade (Srinivasan et al, 2006). This is unlikely to happen, at least in the short term, but it is realistic to anticipate some dietary adjustment toward the recommendations, resulting in an improvement in diet quality (Mazzocchi et al, 2007). Although consumers are reluctant to make major changes to their diets, they may be prepared to...
Tipo: Conference Paper or Presentation Palavras-chave: Agribusiness; Agricultural and Food Policy; Farm Management; Food Consumption/Nutrition/Food Safety; Industrial Organization.
Ano: 2008 URL: http://purl.umn.edu/49893
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2001 ANNUAL AGRICULTURAL OUTLOOK AgEcon
Hilker, James H.; Alderman, Nicole.
One word summarizes the current outlook for the U.S. economy. That word is confusion. First, we review the recent behavior of the U.S. economy. Ten years of economic expansion without a recession had led some to believe that we could have continual expansion without a recession. The year 2000 was the fourth year in a row with growth exceeding 4 percent and this was accomplished with relatively stable prices. unemployment was about 4 percent or below what many perceived as a sustainable rate of unemployment without rapid inflation. Stock market prices had increased and some consumers were spending their "new wealth." However, the stock market showed signs of weakness beginning in 1999. That weakness grew, especially for technology stocks and price...
Tipo: Working or Discussion Paper Palavras-chave: Farm Management.
Ano: 2001 URL: http://purl.umn.edu/11639
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