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| Registros recuperados: 77 | |
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| Wilson, William W.; Dahl, Bruce L.. |
| This study examined moisture specification practices in the United States and for major exporters and assessed impacts of changes to a nil or constant moisture basis on prices and revenue. These were examined under scenarios where information on moisture in current prices is limited and under a scenario where current prices reflect Full Knowledge of moisture advantages. Results indicate that changing to a nil moisture basis (which requires a subsequent adjustment in volumes to reflect the subtraction of moisture) would increase reported prices from 42 to 70 c/bu for the wheat classes, while changing to a 12 percent constant moisture basis would have limited impacts on reported prices. Effects on relative prices/revenue depend on whether knowledge of... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Moisture; Specifications; Pricing; Wheat; Constant moisture; Nil moisture; Crop Production/Industries. |
| Ano: 2002 |
URL: http://purl.umn.edu/23638 |
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| Wilson, William W.; Dahl, Bruce L.. |
| Many of the U.S. railroads have introduced highly differentiated services for grain shipments in recent years, generally in the area of forward guaranteed car service. Taken together with other alternatives, these mechanisms have had the effect of establishing priority allocations among shippers. In most cases, pricing and allocation of these services has been with some type of bidding mechanisms. This paper explores the economic implications of these mechanisms on the grain shipping industry. A model was developed to identify factors affecting the value of these services and was analyzed in the context of a typical midwestern grain shipment. A game theory model of competitive bidding was also developed to analyze the effects of critical strategic... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Railcars; Guaranteed car service; Railcar allocation; Options; Guarantee; Bidding models; Valuation; Marketing. |
| Ano: 1997 |
URL: http://purl.umn.edu/23168 |
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| Wilson, William W.; Jabs, Eric J.; Dahl, Bruce L.. |
| A stochastic optimization model was developed to determine optimal testing strategies, costs, and risks of a dual marketing system. The model chooses the testing strategy (application, intensity, and tolerance) that maximizes utility (minimizes disutility) of additional system costs due to testing and quality loss and allows simulation of the risk premium required to induce grain handlers to undertake a dual marketing system versus a Non-GM system. Cost elements including those related to testing, quality loss, and a risk premium were estimated for a model representing a grain export chain. Uncertainties were incorporated and include test accuracy, risk of adventitious commingling throughout, and variety declaration. Sensitivities were performed for... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Segregation; Testing; Tolerance; Genetically Modified; Wheat; Risk Premium; Crop Production/Industries; Research and Development/Tech Change/Emerging Technologies. |
| Ano: 2003 |
URL: http://purl.umn.edu/23605 |
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| Wilson, William W.; Dahl, Bruce L.. |
| Dockage levels in U.S. wheat exports have been a continuing concern. Recent proposals have focused on changes in U.S. grain standards that would include dockage limits. In this report, dockage trends and practices were documented and effects of prospective changes evaluated. Results indicate the marketing system is currently working effectively with costs of extra cleaning being borne partly by buyers, elevators, and to some extent farmers. Suggested mandates would increase cleaning and result in increased costs (ultimately discounts to growers) and potentially in shifts in grades purchased. Proposed changes in grain standards are also a departure from the generally followed approach to regulation in the United States. In this case, a regulation is... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Wheat; Grades; Classification; Dockage; Cleaning; Wheat Exports; Premiums; Discounts; Crop Production/Industries. |
| Ano: 2001 |
URL: http://purl.umn.edu/23624 |
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| Wilson, William W.; Dahl, Bruce L.. |
| This study examines prospective additional costs associated with identity preserved (IP) transactions and their allocation among participants in the wheat marketing system (farmers, grain handlers, and millers). Cost allocations for participants are computed across a range of potential specifications for IP transactions. As strategies become more specific (moved toward either location, variety, or variety and location), the probability of lots meeting quality specifications for the desired end-use characteristic (absorption) generally increased and changes in costs for mills declined. The exception is for strategies that include varieties which involve a premium paid by millers. As strategies become more specific, higher economic costs are imposed on... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Identity preserved; Wheat; Quality; Growers; Grain handlers; End-users; Crop Production/Industries. |
| Ano: 2002 |
URL: http://purl.umn.edu/23526 |
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| Dahl, Bruce L.; Wilson, William W.; Gustafson, Cole R.. |
| All major exporting countries of agricultural commodities have some form of credit guarantee program. As the importance of credit programs escalates, it is incumbent on policy makers to examine the value of their program relative to those of competitors. In this study, a model based on option pricing theory was developed to estimate the value of credit guarantees extended to importers and applied to U.S. and competing countries' programs. The Canadian guarantee has the lowest implicit value, followed by the U.S., Australian, and French guarantees. French guarantees had the highest implicit value due to higher coverage for interest and freight and insurance. |
| Tipo: Journal Article |
Palavras-chave: International Relations/Trade. |
| Ano: 1999 |
URL: http://purl.umn.edu/30791 |
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| Wilson, William W.; Dahl, Bruce L.. |
| Canola has become an important crop in the last decade in the U.S. Production of canola is risky and competes with other crops which have a range of risk reduction mechanisms. Alternative contracting strategies were evaluated by comparing returns to labor and management for growers and gross margins for processors. Alternative contracting strategies included no contract, fixed price with and without act of god provisions, and an oil premium contract. Grower returns and processor gross margins were simulated and resulting distributions were evaluated using stochastic efficiency with respect to a function. We estimated certainty equivalents and ranked contract preferences for both growers and processors by region in North Dakota. Grower and processor risk... |
| Tipo: Report |
Palavras-chave: Canola; Grower; Processor; Contracting; Risk; Stochastic Efficiency (SERF).; Agricultural Finance; Crop Production/Industries. |
| Ano: 2010 |
URL: http://purl.umn.edu/95751 |
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| Dahl, Bruce L.; Wilson, William W.; Johnson, D. Demcey; Nganje, William E.. |
| Variety release decisions involve a number of tradeoffs, usually between grower and end-user characteristics as well as significant uncertainties about agronomic, quality, and economic variables. In this study, methodologies were developed to value tradeoffs for grower and end-user characteristics for wheat. The models capture effects of variability in agronomic, quality, and economic variables. The models were applied for three experimental varieties which have since been released and for two hypothetical varieties. Results indicate two of the experimental varieties provide improvements in grower and end-use value over most of the incumbents. Comparison of a risk adjusted portfolio model consisting of characteristics of end-use and grower values... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Variety Development; Grower Value; End-user Value; North Dakota; Tradeoffs; Stochastic Dominance; Portfolio Value; Crop Production/Industries. |
| Ano: 2001 |
URL: http://purl.umn.edu/23590 |
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| Registros recuperados: 77 | |
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