Consulta: subjectFacets:"Contracts"
Registros recuperados: 47
Data/hora: 14/06/2024 20:20:08

Can Rank-Order Tournaments Improve Efficiency of Quality Differentiated Crop Markets Under Marketing Loan Program Operation?  The Case of U.S. Peanuts.
Provedor de dados: 31
Autores: Nadolnyak,   Denis A.; Fletcher,   Stanley M.; Revoredo-Giha,   Cesar.
In the paper, alternative contractual arrangements between crop producers and processors are evaluated with a view of addressing the major issues present in peanut markets in the U.S., the major EU supplier of high quality peanuts. The issues are the thinness of the spot markets and the absence of quality premiums, both of which impair market efficiency. Results indicate that introducing contracts with a system of quality differentials creates incentives for producer self-selection to participate in the post harvest cash market. Moreover, in the presence of  sufficiently high common production risk, tournament contracts are more efficient and preferred by the producers than the standard fixed premium schedules.
Tipo: Conference Paper or Presentation
Palavras-chave: Contracts; Tournaments; Efficiency; Spot markets; Peanuts; Marketing.
Ano: 2005
URL: http://purl.umn.edu/24703

Optimal Contracting for Cattle Feeding: An Assessment of Climatic Conditions
Provedor de dados: 31
Autores: Rahman,   Shaikh Mahfuzur.
A unique approach using a biophysical growth model from the animal science literature is used to examine optimal contract cattle feeding behavior under alternative climatic conditions. The examination of incentives and outcomes in an unusually comprehensive contract parameter and behavioral space is made possible by combining simulated feedlot and carcass performance of a large set of cattle with public price and weather data.  The model uniquely fits typical risk aversion levels and rationalizes existing contract types. The results show that optimal cattle feeding contract varies with climatic condition, but there is a tendency to replace cost-of-gain contracts with yardage-feed contracts as grid pricing has emerged.
Tipo: Conference Paper or Presentation
Palavras-chave: Cattle; Feeding; Contracts; Climate; Industrial Organization; D80.
Ano: 2010
URL: http://purl.umn.edu/61451

Análise dos contratos na avicultura de corte em Mato Grosso sob a ótica da nova economia institucional (NEI)
Provedor de dados: 31
Autores: Franco,   Cleiton; Bonjour,   Sandra Cristina de Moura; Pereira,   Benedito Dias; Zanini,   Talitha Soyara.
The Brazilian production of poultry meat in 2010 reached 12.230 million tons, a growth of 11.38%, driven by increased consumption and increased exports. Mato Grosso is the 7th. Major national producer in terms of slaughter and production numbers are growing every year, considering the production of soybeans and corn and the possibility of planting new areas, making poultry the star of this new scenario. This article aims to examine contracts of broiler farms in Mato Grosso from the perspective of New Institutional Economics. The theoretical reference provides the concepts of transaction costs and governance structures. The data were derived from contracts related to the integration of poultry production in the period of 2008 and 2009, from the point of...
Tipo: Article
Palavras-chave: New Institucional Economy; Contracts; Attributes of the Transactions; Poultry keeping; Agribusiness; Livestock Production/Industries.
Ano: 2011
URL: http://purl.umn.edu/121294

A COORDENAÇÃO SIMULTÂNEA DE DIFERENTES CANAIS COMO ESTRATÉGIA DE DISTRIBUIÇÃO ADOTADA POR EMPRESAS DA AVICULTURA DE POSTURA
Provedor de dados: 31
Autores: Mizumoto,   Fabio Matuoka; Zylbersztajn,   Decio.
This study investigates the reasons which lead the companies to keep simultaneous vertical integrated, third part and hybrid distribution channels. Companies establish different coordination structures, the organizational arrangements, which determine how the agents involved cooperate to the development of distribution activities, according to Transaction Cost Economics and Dynamic Competence. Even choosing different distribution channels, why the company does not establish one single organizational arrangement? What factors may justify the establishment of different arrangements? Possible explanations to those questions have been pointed out in multiple distribution channels. The empirical research indicates that firms establish multiple efficient...
Tipo: Journal Article
Palavras-chave: Distribution channels; Poultry industry; Contracts; Organizational arrangements.
Ano: 2006
URL: http://purl.umn.edu/43813

Aligning Incentives for Accelerated Heifer Growth in Custom Heifer Growing Contracts
Provedor de dados: 31
Autores: Olynk,   Nicole J.; Wolf,   Christopher A.
Dairy managers today are faced with the decision to either raise their own replacements on the dairy farm or send heifers to a custom heifer grower.  The largest potential challenge of contracting out the heifer raising enterprise revolves around the potential for a moral hazard problem because of hidden action on the part of the custom heifer grower.  A principal-agent framework was used to elicit contract terms which provide incentives for the custom heifer grower to perform accelerated growth without heifers becoming over-conditioned.  In order to provide incentives to custom growers, heifers returned to the dairy farm should be compared in performance to other heifers of similar age.  We solve for the price paid per pound of gain, price paid for inch...
Tipo: Conference Paper or Presentation
Palavras-chave: Farm management; Production economics; Contracts; Heifer growth; Moral hazard; Livestock Production/Industries.
Ano: 2008
URL: http://purl.umn.edu/6077

Stranded Costs, Takings, and the Law and Economics of Implicit Contracts
Provedor de dados: 31
Autores: Brennan,   Timothy J.; Boyd,   James.
This paper explores ways in which economic analysis can help resolve the stranded cost controversy that has arisen in debates over electricity market deregulation. "Stranded costs" are costs electric utilities will not recover as power markets move from protected monopolies to an open, competitive environment. The paper begins with a description of the stranded cost problem, its magnitude, and the prominent arguments for and against recovery. We then turn to an analysis of contracts in order to understand whether there is, or should be, a legal duty to compensate utility shareholders for unrecovered costs. The paper also argues that efficient approaches to electricity deregulation will rely on more than an analysis of contracts. In particular, the politics...
Tipo: Working or Discussion Paper
Palavras-chave: Stranded costs; Deregulation; Takings; Electric utilities; Contracts; Resource /Energy Economics and Policy; L43; L94; K12.
Ano: 1996
URL: http://purl.umn.edu/10688

Do Transaction Costs and Risk Preferences Influence Marketing Arrangements in the Illinois Hog Industry?
Provedor de dados: 31
Autores: Franken,   Jason R.V.; Pennings,   Joost M.E.; Garcia,   Philip.
Studies of hog industry structure often invoke risk reduction and transaction costs explanations for empirical observations but fail to directly examine the core concepts of risk behavior and transaction costs theories. Using a more unified conceptual framework and unique survey and accounting data, this study demonstrates that that risk preferences and asset specificity impact Illinois producers’ use of contracts and spot markets as suggested by theory. Factor analytic methods limit measurement error for indirectly observable risk and transaction costs variables employed in logit regressions. In particular, related investments in specific hog genetics and specific human capital regarding the production process increase the probability of selecting...
Tipo: Conference Paper or Presentation
Palavras-chave: Risk behavior; Transaction costs economics; Risk attitude and risk perception; Asset specificity; Contracts; Hogs; Agricultural Finance.
Ano: 2008
URL: http://purl.umn.edu/37599

Relational Contracting and Allocation of Decision Rights in the Agri-Food Industry: Producer Contracts and Food Safety
Provedor de dados: 31
Autores: Karantininis,   Kostas; Graversen,   Jesper T.; Rasmussen,   Hans Jacob Nymann.
We apply a formal theoretical model of adaptation to two empirical settings within the agri-food industry: specialized pig production and food safety in Denmark. The objective is to allocate decision rights ex ante so that actual decisions taken ex post will optimize the profit accruing to the two parties in a contractual or integrative relation. Two applications are presented in this paper: First an actual partnership between two pork producers in Denmark. Based on detailed budgets we develop detailed schedules for the “reneging temptations” of the two partners- These are the temptations to renege on the contract during the evolution of the partnership. Using a model developed by Baker, Gibbons and Murphy (2006) we calculate equilibria using the Folk...
Tipo: Conference Paper or Presentation
Palavras-chave: Theory of the firm; Adaptation theory; Contracts; Decision Rights; Pig production; Food safety; Agribusiness; Agricultural and Food Policy; Farm Management; Food Consumption/Nutrition/Food Safety; Industrial Organization; D21; L2; Q1.
Ano: 2008
URL: http://purl.umn.edu/49877

The Role of Contracts in the Organic Supply Chain:  2004 and 2007
Provedor de dados: 31
Autores: Dimitri,   Carolyn; Oberholtzer,   Lydia; Wittenberger,   Michelle.
Organic food products are excellent candidates for contract production and marketing because they are produced using a distinct process and are in high demand. This report summarizes survey data on contracting in the organic sector, addressing the extent of contracting, the rationale for using contracts, and contract design for select commodities. The central survey data were collected from certified organic handlers (intermediaries)in the United States who marketed and procured organic products in 2004 and 2007. Contracting is widespread in the organic sector, and, in 2007, firms used contracts most frequently to secure organic products essential to their business and to source products in short supply. Large firms were more likely to use contracts for...
Tipo: Report
Palavras-chave: Organic supply chain; Contracts; Organic marketing; Organic procurement; Intermediaries; Certified organic handlers; Contract design; Certified organic; Agribusiness; Marketing.
Ano: 2010
URL: http://purl.umn.edu/102762

Quality Premiums and the Post-Harvest Spot Market Thinness: The Case of U.S. Peanuts
Provedor de dados: 31
Autores: Nadolnyak,   Denis A.; Fletcher,   Stanley M.
In the paper, we analyze two issues that are important in the U.S. peanut markets: the absence of explicit quality premiums in the crop contracts, and the thinness of the postharvest cash/spot markets, which obstructs the operation of current production support policies. We argue that introduction of quality differentials in the form of either fixed premium or rank-order tournament contracts may kill two birds with one stone by increasing the spot market turnover and providing incentives for increasing crop quality. In addition, this arrangement is likely to reduce the costs of the federal support programs.
Tipo: Conference Paper or Presentation
Palavras-chave: Contracts; Tournaments; Efficiency; Cash markets; Peanuts; Marketing.
Ano: 2006
URL: http://purl.umn.edu/25274

Vertical Coordination in the Pork and Broiler Industries: Implications for Pork and Chicken Products
Provedor de dados: 31
Autores: Martinez,   Stephen W.
Recent changes in structure of the U.S. pork industry reflect, in many ways, past changes in the broiler industry. Production contracts and vertical integration in the broiler industry facilitated rapid adoption of new technology, improved quality control, assured market outlets for broilers, and provided a steady flow of broilers for processing. Affordable, high-quality chicken products have contributed to continual increases in U.S. chicken consumption, which has surpassed pork and beef on a per capita basis. Incentives for contracting and vertical integration in the pork industry may yield comparable results. If so, these arrangements might be expected to result in larger supplies of higher quality pork products at economical prices.
Tipo: Report
Palavras-chave: Vertical coordination; Vertical integration; Contracts; Transaction costs; Technology; Chicken; Pork; Livestock Production/Industries.
Ano: 1999
URL: http://purl.umn.edu/34031

Contracts, Transaction Costs and Agricultural Production in the Pampas
Provedor de dados: 31
Autores: Lema,   Daniel.
This paper presents an analysis of agricultural contracts using a transaction costs approach. We contend that in a context of modern agriculture, with well defined property rights, agricultural contracts must balance costs and benefits, aligning tenant and landlord incentives towards a similar objective. The study debates the potential effects of tenancy status and duration of contracts, over soil conservation and input use. We present empirical evidence about the effects over the soil and input use in tenant (fixed rent or sharecropping) and owner-operator farms using farm level data from the 2002 National Agricultural Census of Argentina. The empirical results show some differential effects but do not support a general and clear negative effect for...
Tipo: Conference Paper or Presentation
Palavras-chave: Contracts; Agriculture; Transaction Costs; Sharecropping; Property Rights; Land Tenancy; Production Economics; D2; Q15.
Ano: 2006
URL: http://purl.umn.edu/25420

The Role of Market Power in Agricultural Contracts
Provedor de dados: 31
Autores: Cordero Salas,   Paula.
I study the economic consequences of shifting bargaining power in relational contracts through interventions such as the formation of a Bargaining Group (BG) for the side of sellers in a market where buyers traditionally hold significant market power. Existing theories of relational contracts predict that such a power transfer will have no impact on market efficiency. In contexts where enforcement institutions are weak, a standard assumption from existing theories of relational contracts - the existence of an enforceable base payment - may not hold. In this case, I show that a transfer of bargaining power can erode market efficiency in a dynamic relational contracting environment, which contradicts findings from existing models of relational contracting....
Tipo: Conference Paper or Presentation
Palavras-chave: Contracts; Incomplete enforcement; Bargaining group; Distribution; Institutions; Agribusiness; Agricultural and Food Policy; Industrial Organization; Institutional and Behavioral Economics; International Development; D86; K12; L14; O12; Q13.
Ano: 2009
URL: http://purl.umn.edu/49376

RACIONALIDADE LIMITADA E OPORTUNISMO NA CADEIA DO CAFÉ: IMPACTOS NAS FORMAS CONTRATUAIS DO CONSÓRCIO AGRÍCOLA DE FAZENDAS ESPECIALIZADAS
Provedor de dados: 31
Autores: Ferreira,   Gabriel Murad Velloso; Waquil,   Paulo Dabdab; Goncalves,   Wilson Magela.
The present research aimed to analyze the impact of opportunistic behavior and bounded rationality impacts in the forms of contract adopted by the Agricultural Consortium of Specialized Farms (C.A.F.E.). For that, a case study was accomplished with the objective to embrace the most important characteristics of the theme as well as its process of development. The theoretical reference that gave support to this study it was the Transaction Costs Economics (TCE). Through the analysis of the variables approached by TCE, more specifically the behavioral factors (bounded rationality, opportunism) and forms of contract, it was concluded that, in the case studied the existence of opportunism interferes in certain way in the trust increasing the transactional...
Tipo: Journal Article
Palavras-chave: Contracts; Opportunism; Bounded rationality; Specialty coffees.
Ano: 2006
URL: http://purl.umn.edu/43810

Small Farmers and Big Retail: trade-offs of supplying supermarkets in Nicaragua
Provedor de dados: 31
Autores: Michelson,   Hope; Reardon,   Thomas; Perez,   Francisco Jose.
In Nicaragua and elsewhere in Central America, small-scale farmers are weighing the risks of entering into contracts with supermarket chains. We use unique data on negotiated prices from Nicaraguan farm cooperatives supplying supermarkets to study the impact of supply agreements on producers’ mean output prices and price stability. We find that prices paid by the domestic retail chain approximate the traditional market in mean and variance. In contrast, we find that mean prices paid by Wal-mart are significantly lower than the traditional market but that Wal-Mart systematically reduces price volatility compared with the traditional market. We find some evidence, however, that farmers may be paying too much for this contractual insurance against price...
Tipo: Working or Discussion Paper
Palavras-chave: Nicaragua; Supermarkets; Wal-Mart; Modern Retail; Market Risk; Contracts; Supply Chains; Agribusiness; International Development.
Ano: 2010
URL: http://purl.umn.edu/62124

Contracting with Agents Seeking Status
Provedor de dados: 31
Autores: Bontems,   Philippe.
We explore in this paper the consequences of status seeking preferences among agents contracting with a private principal in the context of production. We examine in particular the case of envy and we show that in general envy entails augmented distortions due to asymmetric information in optimal contracts. Furthermore if the principal neglects the preferences of the agents with respect to status, then potentially there is under-participation to the contract. We also show that if the principal is free to choose who can participate to the contract, then under some conditions the principal may prefer to contract with only a subset of potentially "profitable" agents (that is where his utility is strictly positive). We then ask whether contracting with agents...
Tipo: Conference Paper or Presentation
Palavras-chave: Status; Adverse selection; Contracts; Envy; Externalities; Production Economics; D6; H0; D86.
Ano: 2009
URL: http://purl.umn.edu/49507

Gum arabic production and marketing in Senegal: interlocked transactions and supply chain implications
Provedor de dados: 31
Autores: Mujawamariya,   Gaudiose; D'Haese,   Marijke F.C.
Interlocked relationships are characterised by traders’ supply of inputs and cash to producers on credit, to be reimbursed at sale time based on pre-defined prices which are often lower than the prevailing market price. The study analyses determinants of choice for interlocking in the gum arabic sector in Senegal and the effect of interlocking on gum production and market participation; gum arabic is a natural exudates of Acacia Senegal trees that grow in the semi-arid lands of Africa. Data from 422 gum producers in Northern and Eastern regions of Senegal are used. About 45percent of respondents are involved into interlocking with village shop-owners or mobile traders. Interlocking has a negative effect on prices received by gum collectors. However, in the...
Tipo: Conference Paper or Presentation
Palavras-chave: Interlocking; Contracts; Semi-arid lands; Market participation; Gum arabic; Agribusiness; Crop Production/Industries.
Ano: 2011
URL: http://purl.umn.edu/114634

PRODUCER CONTRACT STRATEGIES IN GM CROPS
Provedor de dados: 31
Autores: Maxwell,   Brett J.; Wilson,   William W.; Dahl,   Bruce L.
A number of challenges exist for genetically modified (GM) crop development at the production level.  Contract strategies can resolve some of  these challenges.  Contracts can be designed to induce legal adoption of GM crops by varying technology fees, violation detection, and penalties.  The objective of this research is to analyze contracting strategies to determine terms to induce legal adoption of GM wheat and to minimize technology agreement violations.  A simulation model of the prospective introduction of GM technology into hard red spring wheat was developed.  Results illustrate that contracts can be designed to induce desired behavior.  Technology fees, probability of detection, and the level of non-GM premium were the most notable factors...
Tipo: Working or Discussion Paper
Palavras-chave: Contracts; Genetically modified crops; Crop Production/Industries; Research and Development/Tech Change/Emerging Technologies.
Ano: 2004
URL: http://purl.umn.edu/23534

Aligning Incentives for Contract Dairy Heifer Growth
Provedor de dados: 31
Autores: Olynk,   Nicole J.; Wolf,   Christopher A.
As dairy farms grow and specialize in milking cows, raising replacement heifers is increasingly outsourced. Perhaps the largest challenge of outsourcing the heifer enterprise involves quality, measured as milk production potential, and the possibility for moral hazard due to hidden action on the part of the custom heifer grower. A principal-agent framework was used to elicit contract terms to provide incentives for the heifer grower to achieve desired growth rates, and enable the return of the heifer to the dairy farm on an accelerated time frame, without sacrificing quality. To mitigate incentive asymmetries, bonuses and deductions are proposed.
Tipo: Journal Article
Palavras-chave: Contracts; Heifer growth; Moral hazard; Principal agent; Livestock Production/Industries.
Ano: 2010
URL: http://purl.umn.edu/99109

Rural Household Labour Demand, Contract Choice, Hoarding Cost and Poverty: Evidence from Western Kenya
Provedor de dados: 31
Autores: Gathungu,   E.; Musyoka,   M.P.
This study determines the factors that influenced contract choice, labour demand and examines the existence of labour hoarding practice in Western region of Kenya. Data from Egerton University’s Tegemeo Institute of Agricultural Policy and Development was used for the analysis.. A two step Heckman model was employed to estimate the extent of engagement in daily and semi-permanent contracts conditional on choice of contract. Results from the study show that casual and semi-permanent contracts are substitutes.  Family labour negatively influences engagement in daily and semi-permanent contracts hence it is a substitute to the two forms of the contracts. Increase in wages paid to casual contracts is negative and significant to the extent of daily contract...
Tipo: Conference Paper or Presentation
Palavras-chave: Contracts; Kenya; Labour; Policy; Agricultural and Food Policy; Consumer/Household Economics; Environmental Economics and Policy; Farm Management; Food Consumption/Nutrition/Food Safety; Food Security and Poverty; Institutional and Behavioral Economics; Labor and Human Capital; Land Economics/Use; Productivity Analysis; Research and Development/Tech Change/Emerging Technologies.
Ano: 2008
URL: http://purl.umn.edu/52159

ANALYSIS OF CHANGING METHODS OF VERTICAL COORDINATION IN THE PORK INDUSTRY
Provedor de dados: 31
Autores: Martinez,   Stephen W.; Smith,   Kevin E.; Zering,   Kelly D.
This study examines the motivation behind contracts and vertical integration in the pork industry, and simulates the effects of potential improvements in coordination.  Incentives related to lowering costs of measuring and sorting hogs, and protecting against opportunistic behavior associated with specific assets, can result in hog quality improvements.  A framework for simulating the effects of increased coordination through contracts and vertical integration was developed and used to evaluate potential improvements in leanness.  Although simulations suggest only modest changes in pork prices and supplies, gains in consumers' surplus could be substantial for larger demand shifts due to quality improvements.
Tipo: Journal Article
Palavras-chave: Contracts; Hogs; Lean pork; Simulation model; Vertical coordination; Vertical integration; Industrial Organization; Livestock Production/Industries.
Ano: 1998
URL: http://purl.umn.edu/15561

Seasoning a Monopsonic Processor for Collective Action amongst Pepper Producers in Costa Rica
Provedor de dados: 31
Autores: Saenz-Segura,   Fernando J.F.; Schipper,   Robert A.; D'Haese,   Marijke F.C.
The small-scale pepper producers in the El Roble settlement Costa Rica face a monopsonistic market. Only one processing firm is buying the fresh pepper bunches. The processor has all bargaining power to decide on the price paid to the farmers and the quality selection criteria. The rejection rates are high, which is why farmers decided to market their pepper collectively. They started organizing the selection and transport of pepper and entered into group contracts with the firm. We use a non-linear integer simulation model to predict the price level and contractual form (individual or group contracts) which maximises the income of the firm and farmers under three conditions, namely, monopsony (firm holds all bargaining power), monopoly (producers hold all...
Tipo: Conference Paper or Presentation
Palavras-chave: Collective action; Contracts; Institutional development; Costa Rica; Pepper; Agribusiness; Crop Production/Industries; O2; Q13; D4; D7.
Ano: 2006
URL: http://purl.umn.edu/25789

Agricultural Contracting Update:  Contracts in 2003
Provedor de dados: 31
Autores: MacDonald,   James M.; Korb,   Penelope J.
Marketing and production contracts covered 39 percent of the value of U.S. agricultural production in 2003, up from 36 percent in 2001 and a substantial increase over estimated values of 28 percent for 1991 and 11 percent in 1969. Large farms are far more likely to contract than small farms; in fact, contracts cover over half of the value of production from farms with at least $1 million in sales. Although use of both production and marketing contracts has grown over time, growth is more rapid for production contracts, which are largely used for livestock.
Tipo: Report
Palavras-chave: Contracts; Contracting; Marketing contracts; Production contracts; Vertical integration; Vertical coordination; Market structure; Risk analysis; Price signals; Industrial Organization; Marketing.
Ano: 2006
URL: http://purl.umn.edu/33903

Análise de contratos da suinocultura sob a óptica da Nova Economia Institucional
Provedor de dados: 31
Autores: Pereira,   Sandra Mara; Freire Junior,   Weimar da Rocha; Miele,   Marcelo; Da Silva Lobo,   Debora.
Este artigo tem a intenção de analisar contratos da suinocultura sob a óptica da Nova Economia Institucional. O referencial teórico adotado foi a NEI, que fornece os conceitos dos atributos das transações que foram observados nos contratos. Como metodologia, foram analisados contratos referentes à integração para terminação (engorda) de suínos, de quatro empresas situadas na Região Sul do Brasil. Observou-se que os contratos de integração (ou parceria) têm sido um importante instrumento, tanto para as empresas processadoras, que podem contar com a produção constante e em padrões previamente especificados, quanto para os produtores rurais, que têm na suinocultura, uma atividade que lhes garante venda certa e recebimento garantido. Os contratos de integração...
Tipo: Conference Paper or Presentation
Palavras-chave: Nova Economia Institucional; Contratos; Atributos das Transações; Suinocultura; New Institutional Economics; Contracts; Attributes of the Transactions; Production of Pigs; Livestock Production/Industries.
Ano: 2008
URL: http://purl.umn.edu/102221

Designing Contracts for Reducing Emissions from Deforestation and Forest Degradation
Provedor de dados: 31
Autores: Cordero Salas,   Paula.
Reduction of carbon emissions from deforestation and forest degradation (REDD) has been identified as a cost effective element of the post-Kyoto strategy to achieve long-term climate objectives. The success of REDD depends primarily on the design and implementation of a financial mechanism that provides land-holders sufficient incentives to participate in a REDD scheme. This paper proposes relational contracting as a more appropriate framework for analyzing proposed REDD incentive regimes rather than that of complete contracting enforcement because relational contracting relies upon mutual self-enforcement in a repeated transaction framework, which better suits the stylized facts of REDD. We characterize the optimal REDD relational contract and provide the...
Tipo: Conference Paper or Presentation
Palavras-chave: Contracts; Incomplete enforcement; Carbon sequestration; Climate change; Institutions; Development.; Environmental Economics and Policy; Institutional and Behavioral Economics; International Development; Land Economics/Use; D86; K12; L14; O12; Q54; Q56.
Ano: 2010
URL: http://purl.umn.edu/61129

Coordenação vertical e contratos informais na agricultura irrigada: um estudo de caso com aplicação do modelo Tobit
Provedor de dados: 31
Autores: Lima,   Ricardo Chaves; Irmao,   Jose Ferreira.
The theory of contracts assumes that human nature is essentially opportunistic, and economic agents protect themselves against adverse selection and moral hazard by elaborating contracts. In the case of irrigated areas in the Brazilian northeast, such contracts are not necessarily formal. That is, arrangements based on economic agent’s word are common. The data used are from acerola producers in the Petrolina-Juazeiro irrigation project. The empirical model was tobit, given that the dependent variable was characterized by a truncated distribution. The results showed that the decision to engage on contractual relations is fundamentally defined by the degree of dependence of the farmer in respect to the processing industry. Furthermore, past experience of...
Tipo: Journal Article
Palavras-chave: Vertical coordination; Contracts; Irrigation; Tobit model; Industrial Organization.
Ano: 2004
URL: http://purl.umn.edu/56813

Competitive positioning and value chain configuration in international markets for traditional food specialties
Provedor de dados: 31
Autores: Borch,   Odd Jarl; Roaldsen,   Ingrid H.E.
In this paper we discuss the relations between the increased quality standards of traditional food products and the structuring and management of the value chain. We address the importance of different quality dimensions, and how they are combined in superior strategic configurations to achieve competitive advantage in particular in up market segments. We elaborate on the competitive positioning tools and the resource configuration of the value chain necessary for creating sustainable competitive advantage for small and medium-sized enterprises. We present results from 11 in-depth interviews with representatives from the fragmented Norwegian value chain for lamb products. The results show that to achieve customer-oriented differentiation focus effect and...
Tipo: Conference Paper or Presentation
Palavras-chave: Quality differentiation; Value chain; Configuration; Management; Contracts; Agribusiness; International Relations/Trade.
Ano: 2007
URL: http://purl.umn.edu/7857

PORK QUALITY AND THE ROLE OF MARKET ORGANIZATON
Provedor de dados: 31
Autores: Martinez,   Stephen W.; Zering,   Kelly D.
This study addresses changes in the organization of the U.S. pork industry, most notably marketing contracts between packers and producers, by exploring their function in addressing pork quality concerns. A number of developments brought quality concerns to the forefront. These include health concerns and corresponding preferences for lean pork, a decline in other quality attributes, heightened concerns over food safety and related regulatory programs, and expansion into global markets. Organizational arrangements can facilitate industry efforts to address pork quality needs by reducing measuring costs, controlling quality attributes that are difficult to measure, facilitating adaptations to changing quality standards, and reducing transaction costs...
Tipo: Report
Palavras-chave: Contracts; Transaction costs; Measuring technology; Measuring costs; Pork; Quality; Leanness; Safety; Carcass pricing; Vertical integration; Livestock Production/Industries; Marketing.
Ano: 2004
URL: http://purl.umn.edu/33973

Contract Design and Targeting for the Production of Public Goods in Agriculture: The Impact of the 2003 Cap Reform
Provedor de dados: 31
Autores: Bartolini,   Fabio; Gallerani,   Vittorio; Raggi,   Meri; Viaggi,   Davide.
The objective of this paper is to compare different ways of designing agri-environmental contracts and to set targeting under adverse selection, comparing conditions before and after CAP reform 2003. The results suggest that the present contract structure may be relevantly improved through a more accurate design and a clearer target. The reform, through the decoupling mechanism, will contribute to reduce the opportunity cost of the adoption of agri-environmental measures. This may increase the optimal amount of public goods produced by agriculture and will encourage participation by farmers. However, in order to properly exploit the new conditions brought by the 2003 reform, it is necessary to review the way agri-environmental payments are assigned and...
Tipo: Conference Paper or Presentation
Palavras-chave: Agri-environmental schemes; Contracts; Multifunctional agriculture; CAP reform; Agricultural and Food Policy; Environmental Economics and Policy; Q1; Q18; Q2.
Ano: 2005
URL: http://purl.umn.edu/24559

The "Regulatory Compact" and Implicit Contracts: Should Stranded Costs Be Recoverable?
Provedor de dados: 31
Autores: Boyd,   James.
Progress toward electricity market deregulation has brought controversy over whether or not utilities are entitled to compensation for "stranded costs," i.e., costs utilities will not be able to recover due to the advent of competition in their markets. This paper uses a legal and economic analysis of contracts to address the desirability of utility cost recovery. First, underlying principles of law are reviewed to determine whether or not there is a legal presumption of recovery. Then, the analysis considers whether or not an implicit "regulatory compact" between utilities and regulators follows from principles in the economic analysis of law, particularly theories of efficient breach and implicit contracts. The paper concludes that recovery should occur...
Tipo: Working or Discussion Paper
Palavras-chave: Stranded costs; Deregulation; Contracts; Electric utilities; Environmental Economics and Policy; L43; L94; K12.
Ano: 1996
URL: http://purl.umn.edu/10803

Managing a Common Renewable Resource in Asymmetric Information
Provedor de dados: 31
Autores: Catro,   D. Fuentes; Jayet,   Pierre-Alain; Rotillon,   Gilles.
The clear definition of property rights is not a sufficient condition to prevent congestion effects in commons.  In this paper we present how interesting can be the coordination among owners in the preservation of the common good.  Our approach takes into account economic dynamics and incentive mechanisms in a hidden information context.  We consider a natural resource which is being used up for a continuum of producers on a common property regime.  We also consider that each producer has an individual performance index which is a hidden information of the rest of players. We introduce coordination in the sense of a global maximization of the joint profit. If there is no coordination among the producers, their behavior leads to complete rent dissipation....
Tipo: Conference Paper or Presentation
Palavras-chave: Commons; Natural Resources; Dynamics; Asymmetric Information; Contracts; Environmental Economics and Policy.
Ano: 2000
URL: http://purl.umn.edu/24893

Managing Quantity, Quality and Timing in Cane Sugar Production: Ex Post Marketing Permits or Ex Ante Production Contracts?
Provedor de dados: 31
Autores: Patlolla,   Sandhyarani.
Sugarcane produced in India is utilized to manufacture three sweetening agents: sugar, gur, and khandsari. Sugar processors must comply with a floor price for cane, but gur and khandsari producers are exempt from the floor price. Thus, any effect of the sugar processor’s choice of procurement method on the incentives facing farmers will depend on the expected cane price in these competing unregulated markets. In Andhra Pradesh (AP), India, private sugar processors use an unusual form of vertical coordination. Rather than conventional pre-planting contracts, they issue ‘permits’ to selected cane growers a few weeks before harvest. I explore the potential motivations behind this choice of sugar processors and hypothesize that the probabilistic permit system...
Tipo: Conference Paper or Presentation
Palavras-chave: Contracts; Sugarcane; India; Industrial Organization.
Ano: 2010
URL: http://purl.umn.edu/61238

Expected Utility Analysis of Stocker Cattle Ownership Versus Contract Grazing in the Southeast
Provedor de dados: 31
Autores: Anderson,   John D.; Lacy,   Curt; Forrest,   Charlie S.; Little,   Randall D.
Stocker cattle ownership is compared to contract grazing using stochastic simulation.  Returns are evaluated for both cattle owners and caretakers in contract grazing agreements.  For caretakers, contract grazing is significantly less risky than cattle ownership.  Slightly to moderately risk-averse caretakers could be expected to prefer some type of contract grazing to direct ownership of cattle.  For cattle owners, contracting reduces risk only slightly while significantly reducing expected returns.
Tipo: Journal Article
Palavras-chave: Contracts; Expected utility; Grazing; Stocker calves; Q0; L1.
Ano: 2004
URL: http://purl.umn.edu/43471

Market Competition, Institutions, and Contracting Outcomes: Preliminary Model and Experimental Results
Provedor de dados: 31
Autores: MacDonald,   James M.; Wu,   Steven Y.
Tipo: Working or Discussion Paper
Palavras-chave: Contracts; Competition; Market Power; Enforcement; Institutions; Agribusiness; Industrial Organization; Institutional and Behavioral Economics; Production Economics; C91; D02; D43; D86.
Ano: 2009
URL: http://purl.umn.edu/50625

Do Transaction Costs and Risk Preferences Influence Marketing Arrangements in the Illinois Hog Industry?
Provedor de dados: 31
Autores: Franken,   Jason R.V.; Pennings,   Joost M.E.; Garcia,   Philip.
Risk reduction and transaction costs are often used to explain contracting in the U.S. hog industry with little empirical support. Using a unified conceptual framework that draws from risk behavior and transaction cost theories, in combination with unique survey and accounting data, we demonstrate that risk preferences and asset specificity impact Illinois producers’ use of contracts and spot markets. In particular, producers’ investments in specific hog genetics and human capital are related to selection of long-term marketing contracts over spot markets. Producers who perceive greater levels of price risk and/or are more averse are more (less) likely to use contracts (spot markets).
Tipo: Report
Palavras-chave: Asset specificity; Contracts; Hogs; Risk attitude; Risk behavior; Risk perception; Transaction costs economics; Livestock Production/Industries; Risk and Uncertainty.
Ano: 2009
URL: http://purl.umn.edu/54548

Bargaining Power in Relational Contracts: An Experimental Study
Provedor de dados: 31
Autores: Cordero Salas,   Paula.
This paper provides experimental evidence of the economic impact from shifting bargaining power in relational contracts. I implement an experimental design that adjusts the bargaining power of sellers (agents) and the enforceability of the contract. I find that the vast majority of contracts take the form of efficiency wage contracts instead of contingent performance contracts when enforcement is partially incomplete and sellers have more bargaining power than buyers. The total contracted and actual compensation increase with the bargaining power of the sellers. However, sellers' profits are found to increase only if a part of the total payment is third-party enforceable. In this case, observed surplus and efficiency are lower than predictions. When no...
Tipo: Working or Discussion Paper
Palavras-chave: Contracts; Incomplete enforcement; Bargaining; Experiments; Distribution; Institutions; Industrial Organization; Institutional and Behavioral Economics; International Development; D86; K12; L14; O12; Q13.
Ano: 2011
URL: http://purl.umn.edu/103579

Sugar Quotas and Crop Production Efficiency
Provedor de dados: 31
Autores: Bjerre,   Markus; Jensen,   Jorgen Dejgaard.
The paper deals with problems concerning the current sugar policy within the Common Agricultural Policy, especially the efficiency losses due to the combination of high prices and quota on subsidised sugar production. Based on a simple econometric model, the total economic costs of the current policy setting, compared with an unregulated setting, are estimated to be in the area of 20 per cent of the total sugar production, valued at world market prices. Of these costs, some 10 per cent are due to inefficiency in the crop production, as the opportunity costs of land are not taken into account because the sugar price support within the quota overrules these opportunity costs. However, according to the estimates obtained in the present study, the main...
Tipo: Conference Paper or Presentation
Palavras-chave: Sugar production; Quota; Contracts; Efficiency loss; Production Economics.
Ano: 2002
URL: http://purl.umn.edu/24840

Analysis of Expected Price Dynamics Between Fluid Milk Futures Contracts and Cash Prices for Fluid Milk
Provedor de dados: 31
Autores: Fortenbery,   T. Randall; Cropp,   Robert A.; Zapata,   Hector O.
Future contracts for fluid milk began trading in late 1995 and early 1996. This paper investigates the potential use of fluid milk futures contracts as hedge vehicles for dairy producers in the Upper Midwest and California markets. This is done by developing simulated futures prices for the period 1988 to 1995. The simulated futures prices are used to estimate basis relationships between cash and futures prices for the markets considered. Results suggest that the fluid milk futures contracts could be used to reduce market price risk for producers in the Upper Midwest. Results were less conclusive for California producers.
Tipo: Journal Article
Palavras-chave: Fluid milk futures; Contracts; Basis; Dairy markets; Agribusiness; Demand and Price Analysis.
Ano: 1997
URL: http://purl.umn.edu/90427

A Bioeconomic Analysis of the Duration of Conservation Contracts
Provedor de dados: 31
Autores: Crowe,   Bronwyn; White,   Benedict.
Conservation and restoration of native vegetation is often a gradual process which may require many years to transform an ecosystem from one vegetative state to a target ecosystem. This process is stochastic, with some changes potentially irreversible. In contrast, contracts with landholders to undertake conservation measures on their property are typically for less than ten years and often make no contingencies for re-contracting at the end of the contract period. The risk to land holders and conservation agencies of contracts not being renewed and the consequent potential loss of previous investment means including covenants in conservation contracts may be attractive to both parties. A model is developed to empirically examine the optimal dynamic...
Tipo: Conference Paper or Presentation
Palavras-chave: POMDP; Biodiversity; Contracts; Monitoring; Resource /Energy Economics and Policy.
Ano: 2007
URL: http://purl.umn.edu/9457

Strategic Interactions, Risks and Coordination Costs in Food Marketing Channels: The Mediating Role of Futures Markets
Provedor de dados: 31
Autores: Kuwornu,   John K.M.; Kuiper,   W. Erno; Pennings,   Joost M.E.; Meulenberg,   Matthew T.G.
We examine the interaction of marketing channel members and the influence of these interactions on incentives, coordination costs, and risk allocation strategies in a food marketing channel. For this purpose we specify a three-stage principal-agent marketing channel model involving producers, wholesalers, retailers and a futures market. We compare the situation with and without futures market. The empirical results regarding the Dutch ware potato marketing channel during 1971-2003 reveals that, possibly as a result of increases in incentives to producers and wholesalers, the coordination costs of the marketing channel decreased significantly, both with and without futures trade. The coordination costs of a marketing channel with a futures market are lower...
Tipo: Conference Paper or Presentation
Palavras-chave: Contracts; Risks; Coordination Costs; Futures Markets; Food Marketing Channels; Agribusiness; Marketing.
Ano: 2006
URL: http://purl.umn.edu/7740

Quebra dos Contratos de Soja Verde
Provedor de dados: 31
Autores: Rezende,   Christiane Leles; Zylbersztajn,   Decio.
O desenvolvimento do complexo agroindustrial da soja no Brasil deu-se, em parte, como decorrência do surgimento de formas alternativas de crédito, tal como a venda antecipada de soja por meio de contratos. O problema que motivou este estudo foi decorrente das quebras contratuais por parte dos produtores rurais em um momento de expressiva alta do preço em 2003 e 2004. O principal objetivo é analisar como este ambiente de negócios reagiu a esses fatos. Para responder a esta pergunta foi realizada uma pesquisa quantitativa com 70 produtores rurais. Os efeitos das quebras contratuais podem ser percebidos por meio da maior exigência de garantias e a da redução do número de contratos. Os produtores que não quebraram seus contratos também foram negativamente...
Tipo: Conference Paper or Presentation
Palavras-chave: Contratos; Soja; Instituições; Agronegócio; Contracts; Agribusiness; Soybean; Institutions; Agribusiness; Crop Production/Industries.
Ano: 2008
URL: http://purl.umn.edu/102893

Ownership issues of arable areas owned by foreigners or ensured by firms or any other contracts
Provedor de dados: 31
Autores: Kozma,   Agota.
With this study, I want to draw the attention to an on and on appearing problem. The problem is a product of the legislation and thus the solution also ought to be provided by the legislation as soon as possible. In Hungary, the proprietary right of the areas existing in agricultural cultivation branch is protected by statutes since 1994:  according to this only Hungarian citizen can be owner of agricultural areas; foreign citizen not (except if inheriting an area of this kind). Firms may acquire proprietary right on agricultural areas only if they deal with agriculture as main activity in a verifiable manner in Hungary for at least 3 years. This restriction is valid till 2011 (possibly 2014). Everyone looks for respectively hunted for the wicket-doors...
Tipo: Journal Article
Palavras-chave: Areas agricultural; Contracts; Real estate.; Land Economics/Use; K39.
Ano: 2010
URL: http://purl.umn.edu/94633

Dryland salinity, coordinating action and economic policy: a role for contracts?
Provedor de dados: 31
Autores: Harvey,   Sallyann.
The problem of addressing dryland salinity at a landscape is considered in the context of using economic incentives to encourage change in land use by individual landholders to adopt salinity mitigating actions where a public asset of significant value is threatened. This paper reviews the principal-agent problem and looks at mechanisms which give incentives to address natural resource management problems, and in particular, the role of contracts between the Government and the landholders for achieving environmental objectives. Consideration is then given to the potential for empirical analysis of these policies in practice and their effectiveness in achieving the desired environmental outcomes.
Tipo: Conference Paper or Presentation
Palavras-chave: Salinity; Economic incentives; Contracts; Hidden information; Environmental Economics and Policy.
Ano: 2004
URL: http://purl.umn.edu/58703

Contractual Relationships in the Hungarian Milk Sector
Provedor de dados: 31
Autores: Bakucs,   Lajos Zoltan; Ferto,   Imre; Szabo,   Gabor G.
In this paper we present an empirical analysis of farmers’ contracting choice in the Hungarian milk sector using 2005 milk producer survey data, employing transaction cost economics. We focus on analysing some key determinants of farmers’ contracting choices: type of contracts, duration, number of contractors, incentives provided in the contract and business history of farmers and buyers. Some of the main results include the importance and effect of farm size, quantity of milk delivered, planned short and long run or contract related investment on farm, the possibility of farmer to influence prices on the contracting choices.
Tipo: Conference Paper or Presentation
Palavras-chave: Transaction costs; Contracts; Milk products; Hungary; Agricultural and Food Policy; Institutional and Behavioral Economics; Political Economy.
Ano: 2010
URL: http://purl.umn.edu/90794

Bidding for WIC infant formula contracts: Do non-WIC customers subsidize WIC customers?
Provedor de dados: 31
Autores: Davis,   David E.
Although the WIC food assistance program purchases over one-half of all US infant formula, I find the program has little impact on the prices paid by non-WIC customers. I estimate infant-formula marginal cost and find that it is low compared to price, implying large price-cost markups. But, the WIC program is not to blame. Instead large price-cost markups are likely due to customer’s price insensitivity. WIC’s impact on non-WIC customers comes through an increase in sales owing to a WIC “spill-over” effect. The WIC approved brand attains a prominence in the market that makes it a natural choice for non-WIC customers, which makes attaining WIC approval valuable to firms. Firms bid with rebates to attain exclusive WIC approved status which results in...
Tipo: Working or Discussion Paper
Palavras-chave: Price cost margins; WIC; Oligopoly; Food Assistance; Infant Formula; Auctions; Contracts; Consumer/Household Economics; Health Economics and Policy; Industrial Organization; L11; L113; I18; D12.
Ano: 2011
URL: http://purl.umn.edu/102457

Pacta sunt servanda versus the social role of contracts: the case of Brazilian agriculture contracts
Provedor de dados: 123
Autores: Rezende,Christiane Leles; Zylbersztajn,Decio.
This study explores the instability created by contradictory court decisions related with contract breaches. Forward marketing contracts represent an important source of resources to finance Brazilian agriculture, however a large number of contract breaches were observed during a period of marked increase in soy prices. The study analyzed 161 judicial appeal decisions and a survey was carried with 70 farmers. The results show the difference of judges' interpretation and the existence of second order effects. The effects of court decisions were more requirements of guarantees and the reduction in the number of contracts. Those soybean farmers who did not breach their contracts have also been negatively affected by the strategic reactions of trading and...
Tipo: Info:eu-repo/semantics/article
Palavras-chave: Agribusiness; Contracts; Judicial decisions; Soybean.
Ano: 2012
URL: http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0103-20032012000200001

The role of empirical research in the study of complex forms of governance in agroindustrial systems
Provedor de dados: 123
Autores: Monteiro,Guilherme Fowler A.; Saes,Maria Sylvia Macchione; Caleman,Silvia Morales de Queiroz; Zylbersztajn,Décio.
The growing complexity of supply chains poses new challenges for Agricultural Research Centers and statistical agencies. The aim of this perspective paper is to discuss the role of empirical research in understanding the complex forms of governance in agribusiness. The authors argue that there are three fundamental levels of analysis: (i) the basic structure of the market, (ii) the formal contractual arrangements that govern relations within the agroindustrial system and (iii) the transactional dimensions governed by non-contractual means. The case of the agrochemical industry in Brazil illustrates how traditional analyses that only address market structure are insufficient to fully explain the agricultural sector and its supply chain. The article...
Tipo: Info:eu-repo/semantics/article
Palavras-chave: Complex forms; Empirical research; Market structure; Contracts; Non-measurable attributes.
Ano: 2012
URL: http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0103-20032012000400005