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	Provedor de dados AgEcon (2) Autor Jang, Jongick (2) Sykuta, Michael E. (2) Miller, Douglas J. (1) Won, Seoung Joun (1) Palavra-chave Livestock Production/Industries (2) Incentive effects (1) Long-term contracts (1) MGARCH model (1) Price discovery costs (1) Tipo do documento Conference Paper or Presentation (2) Ano 2009 (1) 2008 (1) País United States (2) Idioma Inglês (2)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 2 Primeira ... 1 ... Última Contracting for Consistency: Hog Quality and the Use of Marketing Contracts AgEcon Jang, Jongick; Sykuta, Michael E.. Achieving consistency in hog quality has been one of the greatest challenges in the US pork industry. Packers, processors and retailers all ranked lack of uniformity in live hogs, carcasses, and retail cuts with regard to size and backfat as the most important quality issue facing the industry in the mid 1990s (NPPC, Pork Quality Audit, 1994), and quality consistency continues to be a leading industry concern (Martinez and Zering, 2004). The past 15 years have also witnessed dramatic changes in the organization of the US hog industry. In 1993, over 82% of hogs were sold through spot markets while 11% were sold under marketing contracts. By 2005, only 11% of hogs were sold through spot markets, with 67% sold under marketing contracts and over 20% owned... Tipo: Conference Paper or Presentation Palavras-chave: Livestock Production/Industries. Ano: 2008 URL: http://purl.umn.edu/5966 Unilateral vs. Bilateral Incentives: Evidence from the U.S. Pork Industry AgEcon Jang, Jongick; Miller, Douglas J.; Sykuta, Michael E.; Won, Seoung Joun. The idea that individuals adapt their behaviors in response to changes in incentive systems is fundamental to most economic analysis. This paper incorporates the concept of price discovery costs into the incentive theory to offer a theoretical model and empirical evidence on the differential incentive effects of long-term contracts and spot markets. Using the US pork industry case where procuring intertemporally consistent weights of hogs have been critical to pork processors, we show why the effectiveness of unilaterally determined and posted incentive price for the hog quality by the pork packers on the intertemporal consistency erodes and why a bilateral incentive structure built through long-term hog procurement contracts is demanded, in the presence... Tipo: Conference Paper or Presentation Palavras-chave: Long-term contracts; Incentive effects; Price discovery costs; MGARCH model; Livestock Production/Industries. Ano: 2009 URL: http://purl.umn.edu/49521 Registros recuperados: 2 Primeira ... 1 ... Última

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