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| Registros recuperados: 53 | |
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| Chavas, Jean-Paul. |
| This paper explores the economics of input decision by a firm facing production uncertainty. It relies on a state-contingent approach to production uncertainty. First, the paper develops a methodology to specify and estimate cost-minimizing input decisions under a state-contingent technology. Second, the analysis is applied to time series data on US agriculture. It finds strong empirical evidence that, in the analysis of input choices, expected output alone does not provide an appropriate representation of production uncertainty. The results provide empirical support for an output-cubical technology. This indicates that an ex post analysis of stochastic technology (as commonly found in previous research) appears appropriate. The analysis also provides... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Production uncertainty; State contingent; Cost; Cubical technology.; Research Methods/ Statistical Methods; C3; D21; D8. |
| Ano: 2006 |
URL: http://purl.umn.edu/21081 |
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| Kim, Kwansoo; Chavas, Jean-Paul. |
| This study presents an econometric analysis of the effects of a government price support program on price dynamics and price volatility. Price support programs, a common feature of agricultural policy, provide a lower-bound censoring of the distribution of market prices. An econometric model of market prices is developed using a dynamic Tobit specification under time-varying volatility. The model is applied to the U.S. non-fat dry milk market. It is used to investigate the impact of market liberalization on price dynamics and price volatility in the presence of private and public stocks. The econometric results show how the price support program and stocks (both private and public) affect expected price volatility. |
| Tipo: Journal Article |
Palavras-chave: Agricultural and Food Policy. |
| Ano: 2002 |
URL: http://purl.umn.edu/31133 |
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| Chavas, Jean-Paul; Cox, Thomas L.. |
| A generalization of Shephard's distance functions is proposed, extending the usefulness of distance functions in economic analysis. Applications to efficiency measurements and productivity analysis are presented. New indexes of productivity, and technical, allocative and scale efficiency are proposed and analyzed. Interpretation of these indexes in terms of ray-average cost, ray-average revenue, and cost-to-revenue ratio is discussed. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Production Economics. |
| Ano: 1999 |
URL: http://purl.umn.edu/12601 |
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| Chavas, Jean-Paul; Cox, Thomas L.. |
| Nonparametric methods for measuring productivity indexes based on bounds for the underlying production technology are presented. Following Banker and Maindiratta, the lower bound is obtained from a primal approach while the upper bound corresponds to a dual approach to nonparametric production analysis. These nonparametric bounds are then used to estimate input-based and output- based distance functions. These radial measures provide the basis for measuring productivity indexes. Application to times series data on U.S. agriculture indicates a large gap between the primal lower bound and the dual upper bound. This generates striking differences between the primal and dual nonparametric productivity indexes. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Productivity Analysis. |
| Ano: 1994 |
URL: http://purl.umn.edu/12613 |
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| Di Falco, Salvatore; Chavas, Jean-Paul. |
| Recently, financial assistance to farms has been widely under scrutiny. Agricultural assistance has an important impact on farmers' production decisions and those decisions in turn affect resources use or environmental quality. Surprisingly, the impact of agricultural policies on agro-biodiversity has been relatively neglected. This paper purports a novel framework to analyze the role of crop biodiversity on the mean and the variance of farm revenues. Further, the potential use of this framework in studying the impact of farm financial assistance to crop biodiversity loss is investigated. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural and Food Policy. |
| Ano: 2004 |
URL: http://purl.umn.edu/20420 |
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| Shi, Guanming; Stiegert, Kyle W.; Chavas, Jean-Paul. |
| In this paper, we investigate substitution/complementarity relationships among products sold with different bundled characteristics and under different vertical arrangements. Our conceptual model demonstrates the interactive price impacts emanating from product differentiation, market concentration and market size. The model is applied to the U.S. cottonseed market using transaction level data from 2002 to 2007. This market has been impacted structurally in numerous ways due to the advances and the rapid adoption of seeds with differing bundles of biotechnology traits and vertical penetration emanating from the biotechnology seed industry. Several interesting findings are reported. The econometric investigation finds evidence of sub-additive pricing in the... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Marketing; Research Methods/ Statistical Methods. |
| Ano: 2009 |
URL: http://purl.umn.edu/92248 |
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| Shi, Guanming; Chavas, Jean-Paul; Stiegert, Kyle W.. |
| This paper investigates bundle pricing under imperfect competition. In a multiproduct context, we first examine how substitution/complementarity relationships among products can affect pricing. This is used to motivate multi-product generalizations of the Herfindahl-Hirschmann index (GHHI) capturing cross-market effects of imperfect competition on bundle pricing. The GHHI model is applied to pricing of conventional and patented biotech seeds in the US from 2000-2007. One major finding is that standard component pricing in biotech traits is soundly rejected in favor of sub-additive bundle pricing. This result is consistent with the presence of scope economies in the production of genetic traits. The econometric estimates show how changes in market... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agribusiness; Demand and Price Analysis. |
| Ano: 2008 |
URL: http://purl.umn.edu/92212 |
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| Chavas, Jean-Paul; Aliber, Michael. |
| A nonparametric analysis of technical, allocative, scale, and scope efficiency of agricultural production is presented based on a sample of Wisconsin farmers. The results indicate the existence of important economies of scale on very small farms, and of some diseconomies of scale for the larger farms. Also, it is found that most farms exhibit substantial economies of scope, but that such economies tend to decline sharply with the size of the enterprises. Finally, the empirical evidence suggests significant linkages between the financial structure of the farms and their economic efficiency. |
| Tipo: Journal Article |
Palavras-chave: Farm Management; Industrial Organization. |
| Ano: 1993 |
URL: http://purl.umn.edu/30811 |
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| Shi, Guanming; Chavas, Jean-Paul; Stiegert, Kyle W.. |
| This paper investigates the pricing of patented traits in the U.S. hybrid corn seed market under imperfect competition. In a multiproduct context, we first examine how substitution/complementarity relationships among products can affect pricing. This is used to motivate multi-product generalizations of the Herfindahl-Hirschman index (GHHI) capturing cross-market effects of imperfect competition on bundle pricing. The GHHI model is applied to pricing of conventional and patented biotech seeds in the US from 2000-2007. One major finding is that standard component pricing in biotech traits is soundly rejected in favor of subadditive bundle pricing. The econometric estimates show how changes in market structures (as measured by both own- and cross-Herfindahl... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Marketing; Research Methods/ Statistical Methods. |
| Ano: 2009 |
URL: http://purl.umn.edu/92249 |
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| Chavas, Jean-Paul; Pope, Rulon D.; Kao, Robert S.. |
| An integrated investigation of futures price, cash price, and government programs is presented in the context of an econometric model of acreage supply response for U.S. corn and soybeans. The analysis refines the role of different sources of price information in the farmers' acreage decision. It is found that the government corn support price program plays a major role in corn and soybean production decisions. Also, the results indicate that futures prices are not good proxies for expected future cash prices in the presence of government programs. This raises questions about the information efficiency of futures prices when government intervenes in the market place. |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries. |
| Ano: 1983 |
URL: http://purl.umn.edu/32481 |
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| Chavas, Jean-Paul; Kim, Kwansoo. |
| The paper investigates price dynamics under market liberalization, with a focus on the effects of lowering price floors. We analyze price dynamics by specifying and estimating a dynamic Tobit model under time-varying volatility, where the market price is censored by a government-set support price. The model is applied to the U.S. butter market over the last three decades. The econometric results show how the price support program affects both expected prices and the volatility of prices. It is found that the censoring effects of a price support program can be significant and large even if the price support is set relatively low. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Demand and Price Analysis. |
| Ano: 2001 |
URL: http://purl.umn.edu/20649 |
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| Chavas, Jean-Paul; Kim, Kwansoo; Lauer, Joseph G.; Klemme, Richard M.; Bland, William L.. |
| This study investigates the recent evolution of corn yield, with a special focus on the tradeoff between corn profitability and risk. The analysis relies on time-series data from Wisconsin experimental farms at the edge of the Corn Belt. An econometric model of corn yield, corn grain moisture, and corn profitability is specified. Both conditional means and conditional variances are estimated for different sites in Wisconsin. The empirical analysis shows the changes in corn yield and profit over time and across space. The evidence suggests that yield trends are due mostly to technical progress, with smaller effects generated by climate change. On average, corn yield and profitability have improved faster in northern Wisconsin than in the Corn Belt.... |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries. |
| Ano: 2001 |
URL: http://purl.umn.edu/31152 |
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| Dhar, Tirtha Pratim; Chavas, Jean-Paul; Cotterill, Ronald W.. |
| This paper develops an analysis of markets for differentiated products. It relies on the concept of latent separability for consumer preferences. As proposed by Blundell and Robin, latent separability assumes that purchased products are allocated in the production of latent intermediate utility-yielding goods. Product differentiation can arise when each product makes a different contribution to the production of the latent goods. Latent separability is particularly attractive in the investigation of markets for branded products where the number of brands is large. It allows focusing on the demand for a smaller number of latent goods. Our approach is based on a quadratic almost ideal demand system (Q-AIDS), which provides a flexible representation of... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agribusiness. |
| Ano: 2003 |
URL: http://purl.umn.edu/21892 |
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| Registros recuperados: 53 | |
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