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| Registros recuperados: 89 | |
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| Fournier, Valerie; Manfredo, Mark R.; Richards, Timothy J.; Eaves, James. |
| Invasive insect species cause billions of dollars of direct and indirect damage to U.S. crops each year. The market for insuring insect damage is, however, far from complete. The objective of this study is to design and value insect derivatives, or "bug options," which would offer growers a market-based means for transferring risk of pest damage to speculators or others who may profit from higher insect populations. A bug option valuation model is developed and applied to Bemesia tabaci infestation in cotton. The results show that insect derivatives may become important risk management tools for a wide range of growers. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2005 |
URL: http://purl.umn.edu/19553 |
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| Patterson, Paul M.; Richards, Timothy J.. |
| Contracting directly between produce shippers and retailers is growing in importance. Retailers seek to obtain reliable supplies, while reducing their reliance on recurring market transactions. Producers seek stable prices and market access. These private transactions diminish spot market liquidity and enhance noncompetitive buying opportunities, raising concerns over the resulting impact on grower prices, whether under contract or not, and the future produce market structure. Primary data are used to test hypotheses on contract participation. Simulations on grower prices reveal that contract prices are generally lower, but less variable, than market prices, suggesting a form of risk sharing. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2001 |
URL: http://purl.umn.edu/20534 |
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| Richards, Timothy J.; Kagan, Albert; Gao, Xiaoming. |
| Despite the rapid rise in complex carbohydrate consumption over the last twenty-five years, fresh potato consumption has fallen by over 50%. Fresh potato growers and retailers alike need to know whether these changes reflect consumer responses to changing relative prices or incomes, or whether they are due to changes in consumer tastes. This paper uses a linear approximation almost ideal demand system (LA/AIDS) to investigate the effect of relative prices, expenditures, and a set of socioeconomic variables on complex carbohydrate demand. Estimation results show that the socioeconomic variables explain some of the changes in demand, but a significant amount remains as evidence of a change in consumer tastes. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1997 |
URL: http://purl.umn.edu/31359 |
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| Richards, Timothy J.; Patterson, Paul M.. |
| The Fuji apple variety is relatively new in the U.S. As a new product, questions concern the relative impact of consumer learning by experience, by variety-specific promotion, or by generic apple promotion. A two-stage (LES/LAIDS) model incorporating both types of promotion is used to estimate the effect of generic and variety specific promotion, as well as consumer experience, on the demand for Fuji apples. Estimates show each to have a positive impact, and also show new or speciality apple varieties to be relatively price inelastic, but income elastic. Grower returns to promotion are calculated with an equilibrium displacement model of price changes and producer surplus. Changes in producer surplus provide a base-scenario benefit: cost ratio of 6.33:1. |
| Tipo: Journal Article |
Palavras-chave: Consumer/Household Economics; Marketing. |
| Ano: 2000 |
URL: http://purl.umn.edu/31339 |
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| Richards, Timothy J.; Patterson, Paul M.. |
| Native American obesity and the associated health conditions are generally thought to result in part from a genetic predisposition to overeating fats and carbohydrates, called the "thrifty gene." Although coined by nutritional scientists, this study maintains the origin of the thrifty gene lies in economics. Apparently harmful overconsumption and addiction constitute economically rational behavior if the increment to current utility from adding to one's stock of "consumption capital" is greater than the present value of utility lost in the future due to ill health and the costs of withdrawal. Tests of these conditions for such "rational addiction" are conducted using two-stage household production approach. The results obtained by estimating this model... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Food Consumption/Nutrition/Food Safety; Health Economics and Policy. |
| Ano: 2004 |
URL: http://purl.umn.edu/36208 |
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| Richards, Timothy J.. |
| Product-line length, or variety, is a key competitive tool used by retailers to differentiate themselves from rivals. Theoretical models of price and variety competition suggest that both store and product heterogeneity are key determinants of price and variety strategies, but none test this hypothesis in a rigorous way. This study provides the first empirical evidence on supermarket retailers' combined price and variety strategies using a nested CES modeling framework. Unlike other discrete-choice models of product differentiation, the NCES model is sufficiently general to admit both corner and interior solutions in both store and product choice. The model is estimated using store-level scanner data for all grocery chains in a major West Coast market and... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Game theory; Nested CES; Price competition; Retailing; Variety.; Demand and Price Analysis. |
| Ano: 2004 |
URL: http://purl.umn.edu/28535 |
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| Allender, William J.; Richards, Timothy J.. |
| Though brand loyalty has been studied extensively in the marketing literature, the relationship between brand loyalty and equilibrium pricing strategies is not well understood. Designing sales pricing strategies involves two key decisions: the percentage reduction in price from the existing price point, and the number or frequency of promotions within a category or for a specific product. These decisions, in turn, are critically dependent upon how many consumers can be convinced to switch to a brand by temporarily reducing its price, and how many are instead brand loyal. Theoretical models of how the size and strength of brand loyalty influence optimal promotion strategies have been developed, but there are no rigorous tests of their hypotheses. We test... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Marketing. |
| Ano: 2009 |
URL: http://purl.umn.edu/49536 |
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| Acharya, Ram N.; Kagan, Albert; Richards, Timothy J.. |
| This study examines the impact of distance among competing bank locations on market their pricing behavior. A general spatial autoregressive model that nests both spatial autoregressive and spatial error models is used to examine the impact of distance on pricing behavior of 686 non-metro banks in Texas. Results show that non-metro banks exercise market power in pricing their products. An increase in spatial competition may reduce profitability and challenge long term survival of small community based financial institutions. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Financial Economics. |
| Ano: 2006 |
URL: http://purl.umn.edu/21453 |
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| Richards, Timothy J.; Jeffrey, Scott R.. |
| This study investigates the use of hedonic pricing to identify the value of relevant production and type traits for dairy bulls in Alberta. A hedonic pricing model is estimated that models semen price as a function of individual production and longevity characteristics for a sample of Holstein bulls. This model corrects for sources of statistical bias in the data (i.e., censored data and endogenous supply problems). The results suggest that the most important characteristics in valuing dairy bulls are milk volume, protein and fat content, general conformation, body capacity, the popularity of the bull, and the probability that the bull's semen may be in short supply. This methodology may be used to establish a method of forecasting semen prices for newly... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Marketing. |
| Ano: 1995 |
URL: http://purl.umn.edu/24035 |
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| Manfredo, Mark R.; Richards, Timothy J.; McDermott, Scott. |
| While not ignoring risk, agricultural cooperatives tend to accommodate risk through the holding of internal capital reserves rather than engage in active risk management. A lack of information regarding the risk, returns, and the effect on cooperative financial performance of both traditional and innovative risk management strategies is likely a constraint to the adoption of active risk management by cooperatives. In this research, we examine the influence of alternative risk management strategies on cooperative financial performance, namely the return on assets (ROA) of grain merchandising cooperatives of various sizes. Strategies include traditional exchange traded futures and options strategies, an over-the-counter revenue swap, throughput insurance,... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agribusiness. |
| Ano: 2003 |
URL: http://purl.umn.edu/18985 |
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| Richards, Timothy J.; Patterson, Paul M.. |
| The Fuji apple variety is relatively new in the U.S. As a new product, questions concern the relative impact of consumer learning by experience, by variety-specific promotion, or by generic apple promotion. A two-stage (LES/LAIDS) model incorporating both types of promotion is used to estimate the effect of generic and variety specific promotion, as well as consumer experience, on the demand for Fuji apples. Estimates show each to have a positive impact, and also show new or specialty apple varieties to be relatively price inelastic, but income elastic. Grower returns to promotion are calculated with an equilibrium displacement model of price changes and producer surplus. Changes in producer surplus provide a base-scenario benefit:cost ratio of 14.73.... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Apple demand; Experience; LAIDS; New products; Producer surplus; Promotion; Varieties.; Marketing. |
| Ano: 1998 |
URL: http://purl.umn.edu/28541 |
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| Registros recuperados: 89 | |
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