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| Registros recuperados: 26 | |
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| Brorsen, B. Wade; Anderson, Kim B.. |
| One maxim that has been circulating among farmers is that most farmers sell in the lower third of the market. This maxim is soundly rejected using data from Oklahoma elevators. In fact, roughly half of producers sell in the upper third of the market. Thus, there does not seem to be a great need for producers to hire a market advisor to do their marketing for them. But, some farmers do store longer than is optimal and they could be encouraged to sell sooner after harvest. In the short run, farmers sold after price increases and held after price decreases. Price movements in the days after a large number of sales were no different than price movements after few sales. While farmers are noise traders in the short run, it does appear that they are responding... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2002 |
URL: http://purl.umn.edu/19065 |
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| Brorsen, B. Wade; Anderson, Kim B.. |
| Extension marketing economists were surveyed to determine whether they are using available research results and whether research is being conducted on topics relevant to extension marketing economists. In some cases, the beliefs of extension marketing economists differ from recent research results. The research topics recommended by extension economists and the topics of papers presented at the 1994-97 annual NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management are well matched. While relevant research is being done, many extension economists desire marketing strategies that both reduce risk and increase income. Research, however, has not produced such strategies. |
| Tipo: Journal Article |
Palavras-chave: Efficient markets; Extension; Farmer marketing; Outlook; Research; Risk; Teaching/Communication/Extension/Profession. |
| Ano: 1999 |
URL: http://purl.umn.edu/14726 |
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| Cunningham, Lewis T., III; Brorsen, B. Wade; Anderson, Kim B.. |
| Years of research have been dedicated to determining the best time for producers to sell their commodities. Researchers have developed basis models, market efficiency tests, hedging/risk models, price forecasting models, and many other models in an attempt to help producers. There is a vast amount of material on how economists believe that a rational producer should act and react in the market place. However, there is little research on how producers actually sell commodities. This paper first measures the extent to which producers display an active or mechanical marketing style using individual farmer sales. Next, tests of performance persistence are conducted to determine if there is any advantage to an active marketing style. The results show that... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Crop Production/Industries; Marketing. |
| Ano: 2004 |
URL: http://purl.umn.edu/19031 |
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| Cunningham, Lewis T., III; Brorsen, B. Wade; Anderson, Kim B.. |
| There has been considerable normative research about how farmers should make marketing decisions, but little positive research on what farmers really do. Regressions of gender, total volume, timing, and frequency of sales on the average weighted price received are used to test hypotheses regarding gender differences, myopic loss aversion, economies of size, and market efficiency. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2004 |
URL: http://purl.umn.edu/20275 |
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| Brorsen, B. Wade; Anderson, Kim B.. |
| Behavioral finance is a relatively new field of inquiry that may help better understand farmer marketing. The theory argues that people tend to make certain psychological biases that cause them to not be fully rational in an economic sense. For example, people tend to be about twice as upset about a loss as they would be happy about a gain of the same size. The theory can help explain why producers would pay a marketing consultant even when markets are efficient. Extension programs need to consider the psychology of marketing. The theory suggests that decisions need to be framed in terms of their effect on the whole farm operation and in terms of profits over a series of years. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Agricultural Finance; Marketing. |
| Ano: 2001 |
URL: http://purl.umn.edu/18952 |
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| Hatchett, Robert B.; Brorsen, B. Wade; Anderson, Kim B.. |
| The question addressed in this study is which length of historical moving average provides the best forecast of futures basis. Differences in observed forecast accuracy among the different moving averages are usually less than a cent per bushel, and most are not statistically significant. Further, the search for an optimal length of moving average may be futile since the optimal length depends on how much structural change has occurred. Our recommendation is to use moving averages when there has been no structural change and to use last year’s basis or an alternative approach if the forecaster perceives that a structural change has occurred. |
| Tipo: Journal Article |
Palavras-chave: Basis forecast; Grain; Law of One Price; Moving averages; Structural change; Marketing. |
| Ano: 2010 |
URL: http://purl.umn.edu/61057 |
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| Kim, Hyun Seok; Brorsen, B. Wade; Anderson, Kim B.. |
| Some extension economists and others often recommend profit margin hedging in choosing the timing of crop sales. This paper determines producer’s utility function and price processes where profit margin hedging is optimal. Profit margin hedging is shown to be an optimal strategy under a highly restricted target utility function even in an efficient market. Although profit margin hedging is not the optimal rule in the presence of mean reversion, it can still be profitable if prices are mean reverting. Simulations are also conducted to compare the expected utility of profit margin hedging strategy with the expected utility of other strategy such as always hedging and selling at harvest strategies. A variance ratio test is conducted to test for the existence... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Expected utility; Mean reversion; Profit margin hedging; Target. |
| Ano: 2007 |
URL: http://purl.umn.edu/37570 |
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| Anderson, Kim B.; Mapp, Harry P., Jr.. |
| The evolution of Cooperative Extension Service techniques used to teach decision making in a risk environment is examined. Interviews of selected Cooperative Extension economists indicate that research methods used to evaluate and describe risk are more complex than those used in extension programs. Research is an essential component of the development and implementation of extension programs. Because most producers have some understanding of risk, and many use financial strategies to manage risk, and important product of risk research has been educating extension economists and researchers. When developing risk management programs, it is stressed that "simplicity is powerful." |
| Tipo: Journal Article |
Palavras-chave: Risk and Uncertainty; Teaching/Communication/Extension/Profession. |
| Ano: 1996 |
URL: http://purl.umn.edu/31000 |
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| Registros recuperados: 26 | |
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