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| Registros recuperados: 103 | |
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| Kaitibie, Simeon; Nganje, William E.; Brorsen, B. Wade; Epplin, Francis M.. |
| This study uses a Cox parametric bootstrap test to select between two specifications of the von Liebig hypothesis, a switching regression model and a non-linear mixed stochastic plateau function. The selected production function was used to determine optimal stocking density for dual-purpose winter wheat, under production and output price uncertainty. The switching regression approach was rejected in favor of the non-linear mixed stochastic plateau function. The relatively small difference in optimal stocking density between risk aversion and risk neutrality suggests that risk-aversion is much less important in explaining producer response to uncertainty than is nonlinearity in the production function. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agribusiness. |
| Ano: 2003 |
URL: http://purl.umn.edu/22020 |
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| Kidd, Willis V.; Brorsen, B. Wade. |
| Returns to managed futures funds and Commodity Trading Advisors (CTAs) have decreased dramatically during the last several years. Since these funds overwhelmingly use technical analysis, this research examines futures prices to determine if there is evidence of a structural change in futures price movements that could explain the reduction in fund returns. Bootstrap tests are used to test significance of a change in statistics related to daily returns, close-to-open changes, breakaway gaps, and serial correlation. Results indicate that several statistics have changed across a broad range of commodities indicating futures price fluctuations have changed. The lower price volatility, decreased price reaction time, and decreased serial correlation may partly... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2002 |
URL: http://purl.umn.edu/19066 |
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| Mutondo, Joao E.; Brorsen, B. Wade; Henneberry, Shida Rastegari. |
| There is often a need to respond quickly to assess the likely implications of policy changes. Here, an equilibrium displacement model is adapted to study international bans on U.S. beef. An equilibrium displacement model offers a convenient way of quickly predicting the effects of supply and demand shocks. The equilibrium displacement model used here has an international sector, which allows the study of issues that past models with only a domestic sector could not. The estimated welfare loss of U.S. beef producers, due to both Japanese and South Korean bans after the discovery of bovine spongiform encephalopathy (BSE) in the United States, is $565.31 million. |
| Tipo: Journal Article |
Palavras-chave: Equilibrium displacement; International trade; Meat; Trade ban; Welfare; Marketing. |
| Ano: 2009 |
URL: http://purl.umn.edu/59236 |
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| Bailey, DeeVon; Brorsen, B. Wade. |
| Hedging in the live cattle futures market has largely been viewed as a method of reducing producer's price over a rather lengthy production period (three to six months). Meat packers and processors also face price risk. However, packers' and processors' price risk lies on the upside (i.e., risk is due to price increases) and is also relatively short-term (usually a few days). The possibility of reducing packers' and processors' price risk through long-hedging on the live cattle contract for a short period of time (one week) was investigated. The results suggest some potential benefits to meat packers form following a routine hedging strategy. |
| Tipo: Journal Article |
Palavras-chave: Livestock Production/Industries; Marketing. |
| Ano: 1985 |
URL: http://purl.umn.edu/32332 |
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| Yoon, Byung-Sam; Brorsen, B. Wade. |
| Both market advisors and researchers have often suggested rollover hedging as a way of increasing producer returns. This study tests whether rollover hedging can increase expected returns for producers. For rollover hedging to increase expected returns, futures prices must follow a mean-reverting process. Using both the return predictability test based on long-horizon regression and the variance ratio test, we find that mean reversion does not exist in futures prices for corn, wheat, soybeans, soybean oil and soybean meal. The findings are consistent with the weak form of market efficiency. The results of the study imply that rollover hedging should not be seriously considered as a marketing alternative. As long as the commodity markets are efficient, the... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Rollover hedging; Mean reversion; Market efficiency; Marketing. |
| Ano: 2000 |
URL: http://purl.umn.edu/18938 |
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| Biermacher, Jon T.; Epplin, Francis M.; Brorsen, B. Wade; Solie, John B.; Raun, Bill. |
| Sensor-based precision fertilizer technologies are being developed and researched by production scientists. One such technology uses normalized difference vegetation index (NDVI) reflectance measurements of growing winter wheat plants and a nitrogen fertilizer optimization algorithm (NFOA) to determine nitrogen requirement necessary for plants to reach their yield plateau. A number of precision fertilizer application systems that use this technology are considered in this paper. A linear response stochastic plateau wheat yield function conditional on NDVI reflectance measurements is estimated and used within an expected profit-maximization framework to estimate upper bounds on the returns from the precision nitrogen application systems. The on-the-go... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Research and Development/Tech Change/Emerging Technologies. |
| Ano: 2006 |
URL: http://purl.umn.edu/21046 |
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| Yoon, Byung-Sam; Brorsen, B. Wade. |
| In an inverted market, current prices are higher than future prices and thus the price of storage is negative. Market inversions as measured with futures spreads rarely occur during early months of the crop year. However, market inversions frequently occur across crop years and near the end of the crop year. In the last half of the crop year, market inversions clearly reflect a signal to sell stocks. Too few inversions occur early in the crop year to reach a definitive conclusion for that period. Behavioral finance offers possible explanations of why producers would hold stocks in an inverted market. |
| Tipo: Journal Article |
Palavras-chave: Convenience yield; Cost of carry; Market inversion; Marketing; Q13. |
| Ano: 2002 |
URL: http://purl.umn.edu/15077 |
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| Buguk, Cumhur; Brorsen, B. Wade. |
| This study uses data from a survey of wheat sellers and buyers in five different exchanges in Turkey to gain a better understanding of seller and buyer satisfaction with the current exchange system and factors that influence exchange participants' decisions to choose exchanges over other ways of selling wheat. The descriptive and econometric results indicate that most sellers and buyers have a few problems with the current system. The major dissatisfaction with exchanges are prices and fees. The Tobit model results suggest that there is a great potential for accepting a new grading system and accepting legally enforceable warehouse receipts because sellers and buyers most concerned about warehouse receipts use the exchanges the least. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Crop Production/Industries; Marketing. |
| Ano: 2001 |
URL: http://purl.umn.edu/36118 |
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| Registros recuperados: 103 | |
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