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| Registros recuperados: 47 | |
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| Sexton, Richard J.. |
| Helmberger and Hoos' (HH) 1962 paper is a landmark in the economic theory of agricultural cooperatives, Along with the related work by Helmberger (1964), it represented the definitive treatment of marketing cooperative behavior and standard reading for graduate students in agricultural marketing for more than two decades, To understand fully HH's paper, appreciate its many strengths, and also recognize its weaknesses: one must interpret it both in the context of the work on cooperatives that preceded it over the prior two decades and in the framework of developments in general economic theory at that time, In this comment I attempt to provide such a perspective. |
| Tipo: Journal Article |
Palavras-chave: Agribusiness. |
| Ano: 1995 |
URL: http://purl.umn.edu/46178 |
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| Bond, Jennifer Keeling; Carter, Colin A.; Sexton, Richard J.. |
| This case study on the former Rice Growers Association (RGA) analyzes the effects of a variety of business decisions and market changes, relative to the ongoing Farmers’ Rice Cooperative (FRC). Interview and survey findings reveal that many respondents felt RGA’s Board of Directors was passive and, despite its large size, lacked the necessary expertise to direct management and represent the best interest of the broader cooperative membership. In the midst of challenging market conditions, RGA’s management teams were accused of making a number of poor business decisions that led to significant financial stress and the eventual dissolution of the firm. |
| Tipo: Journal Article |
Palavras-chave: Agribusiness; Crop Production/Industries. |
| Ano: 2009 |
URL: http://purl.umn.edu/56929 |
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| Sexton, Richard J.. |
| This paper is the first of a two-part survey on noncooperative game theory relevant to agricultural markets. Part 1 discusses types of noncooperative games and reviews important developments in noncooperative game theory solution concepts, including Nash equilibrium, subgame perfect equilibrium, and perfect Bayesian equilibrium. Strengths and weaknesses of game theory as a modelling tool are also assessed. Part 2 of the survey will discuss specific applications to agricultural markets. |
| Tipo: Journal Article |
Palavras-chave: Marketing. |
| Ano: 1995 |
URL: http://purl.umn.edu/12401 |
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| Sexton, Richard J.. |
| This paper is the second of a two-part survey on noncooperative game theory relevant to agricultural markets. Part 1 of the survey focused on important game theory concepts, while this paper illustrates applications of the theory to agricultural markets. Game theory is relevant when markets are imperfectly competitive, and this paper argues that this condition is commonly met in agriculture. Specific topics of application include principal-agent models, auctions, and bargaining. |
| Tipo: Journal Article |
Palavras-chave: Marketing. |
| Ano: 1994 |
URL: http://purl.umn.edu/12484 |
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| Chalfant, James A.; James, Jennifer S.; Lavoie, Nathalie; Sexton, Richard J.. |
| Grading systems are often introduced to address the classic adverse selection problem associated with asymmetric information about product quality. However, grades are rarely measured perfectly, and adverse selection outcomes may persist due to grading error. We study the effects of errors in grading, focusing on asymmetric grading errors- namely when low-quality product can erroneously be classified as high quality, but not vice versa. In conceptual model, we show the effects of asymmetric grading errors on returns to producers. Application to the California prune industry shows that grading errors reduce incentives to produce more valuable, larger prunes. |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries. |
| Ano: 1999 |
URL: http://purl.umn.edu/30878 |
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| Xia, Tian; Sexton, Richard J.. |
| When contract production is marketed contemporaneously with production sold through a spot market, it is conveninet to specify the contract price in terms of the subsequent cash price. This paper examines the competitive implications of such pricing arrangements, focusing in particular upon so-called "top-of-the-market (TOMP) pricing in cattle procurement, wherein the contract guarantees the producer the highest cash price prevailing at the time of delivery. We show that these contracts have anticompetitive consequences when the same buyers who purchase cattle with the TOMP clause also compete to procure cattle in the subsequent spot market. By committing to purchase cattle at a price to be determined later, beef packers' incentives to compete... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Demand and Price Analysis. |
| Ano: 2002 |
URL: http://purl.umn.edu/19776 |
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| Zhang, Mingxia; Sexton, Richard J.. |
| Exclusive contracts (often called "captive supplies") between processors and farmers are in increasingly important feature of modern agriculture. We study an interesting empirical regulatory occurring in markets that feature both contract and spot exchange: the spot price is inversely related to the incidence of contract use in the market. We use a spatial model and a noncooperative game approach to show that processors can use exclusive contracts to manipulate the spot price in certain situations. Captive supplies in these settings represent geographic buffers that reduce competition among processors. However, in markets where the spatial dimension is less important, captive supplies are ineffective as barriers to competition because firms have... |
| Tipo: Journal Article |
Palavras-chave: Agribusiness. |
| Ano: 2000 |
URL: http://purl.umn.edu/30842 |
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| Li, Lan; Carman, Hoy F.; Sexton, Richard J.. |
| Using a unique micro dataset and advanced panel models, this study examines the effects of demand shocks on grocery retail price for avocados, a key Californian fresh produce commodity. Retail prices for avocados exhibited countercyclical movements over seasonal demand shocks for avocados associated with some holidays and events. Demand for avocados is shown to be higher during some holidays/events, e.g., Christmas/New Year, Super Bowl Sunday, and Cinco de Mayo. Super Bowl Sunday and Cinco de Mayo are identified as holidays/events associated with idiosyncratic demand peaks for avocados, but not associated with high aggregate consumer demand. Retail price and margin were significantly lower during some holidays/events associated with high demand for... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Retail price; Retail price determination; Countercyclical price movement; Dynamic panel model; GMM; Demand and Price Analysis. |
| Ano: 2008 |
URL: http://purl.umn.edu/6251 |
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| Gruber, Jennifer E.; Rogers, Richard T.; Sexton, Richard J.. |
| A common belief is that agricultural marketing cooperatives advertise less than their investor-owned counterparts, holding other factors constant. This paper presents both a conceptual and an empirical analysis that questions this conventional wisdom. Our conceptual model analyzes a cooperative’s optimal advertising-to-sales (A/S) ratio under three alternative objective functions. In each instance, the optimal A/S ratio is characterized by the well-known Dorfman-Steiner condition that also characterizes optimal advertising for an investor-owned firm. The empirical analysis examines forty-nine processed food markets, each containing at least one cooperative. The results do no support the conventional wisdom that cooperatives advertise less, ceteris paribus.... |
| Tipo: Journal Article |
Palavras-chave: Agribusiness. |
| Ano: 2000 |
URL: http://purl.umn.edu/46410 |
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| Zhang, Mingxia; Sexton, Richard J.; Alston, Julian M.. |
| This study investigates market conditions when food processor/handler brand advertising, whether undertaken by an investor-owned firm or by a cooperative, will benefit or harm farmers. Addressing this question provides insight into the policy issue of whether and when promotion funds intended to benefit farmers should be used in support of brand advertising. Analysis of a two-stage oligopoly-oligopsony model shows that advertising by an investor-owned firm is most likely to be harmful to farmers when it takes place in a relatively unconcentrated industry and when advertising is relatively more effective at creating brand market power than at increasing total demand. |
| Tipo: Journal Article |
Palavras-chave: Marketing. |
| Ano: 2002 |
URL: http://purl.umn.edu/31131 |
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| Saitone, Tina L.; Sexton, Richard J.; Sexton, Steven E.. |
| The subject of market power is discussed frequently in debates about subsidies for ethanol production, and structural conditions in the industry create a prima-facie case for concerns about market power. This paper develops a prototype model for determining the production and price impacts and distribution of benefits from the U.S. ethanol subsidy when upstream sellers in the seed sector and downstream buyers in the processing sector may exercise market power. The impact of the subsidy is analyzed within a simulation framework for alternative levels of market power. Results demonstrate that the impacts on prices and output are limited for modest departures from competition. Distributional impacts are much greater. Seed producers and corn processors with... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2007 |
URL: http://purl.umn.edu/9810 |
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| Registros recuperados: 47 | |
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