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| Registros recuperados: 165 | |
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| Wilson, William W.; Wilson, Wesley W.. |
| Auctions are common mechanisms for identifying prices and suppliers of commodities and are particularly important in agricultural marketing. Information asymmetries among bidders may be ameliorated over time through some form of learning. In this study, we incorporate prior decisions to participate, information from previous auctions, and firm-specific attributes to explain both the decision to bid and the level of the bid. Our analysis uses data from Egyptian oilseed tenders, an important market both for oilseeds and tendering. Because of the unbalanced nature of the panel data, we are able to evaluate the effects of signals received from previous tenders. We find that firms learn from previous auctions and can gain an informational advantage through... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Auction; Bidding; Tenders; Optimal bids; Learning; Marketing. |
| Ano: 2002 |
URL: http://purl.umn.edu/23647 |
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| Wilson, William W.. |
| Recent legislation in the transportation industry has stimulated a move toward more flexibility in railroad pricing and has consequently provided the impetus for the analysis of transportation demand. Modal demands for grain transportation are analyzed in this paper using a derived demand approach assuming dual relationships between production and cost functions of shippers' distribution activities. Hypotheses were introduced in the empirical specification about the effects of rail car shortages and the introduction of multiple-car rail rates. The model was estimated and hypotheses tested in the case of eastbound wheat and barley shipments form North Dakota. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis; Public Economics. |
| Ano: 1984 |
URL: http://purl.umn.edu/32135 |
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| Gustafson, Cole R.; Wilson, William W.; Dahl, Bruce L.. |
| Malt barley is an important specialty crop in the Northern Plains and growers mitigate risk with federally subsidized crop insurance and production contracts. However, growers face considerable risk due to "coverage gaps" in crop insurance that result in uncertain indemnity payments due to uncertainty of their crop meeting contract specifications. A stochastic dominance model is developed to evaluate alternative risk efficient strategies for growers with differing risk attitudes and production practices (irrigation vs. dryland). Results show that efficient choices are highly dependent on risk attitudes for dryland growers, but not irrigated growers. Sensitivities with respect to acceptance risk and level of crop insurance subsidization are presented.... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Crop insurance; Malting barley; Stochastic dominance; Stochastic efficiency; Risk and Uncertainty. |
| Ano: 2006 |
URL: http://purl.umn.edu/21095 |
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| Scherping, Daniel J.; Wilson, William W.. |
| Buyers of grain use premiums and discounts to convey to suppliers the value of quality characteristics. Premiums and discounts are determined by supply and demand for those quality characteristics. This report, the eighth in a series, contains the results of a 1991 survey of pricing and marketing practices used by North Dakota country elevators for durum and hard red spring (HRS) wheat. Results for HRS wheat show that the protein level increased to the highs of 1988 and 1989 and that the premium for 16 percent protein and the discount for 12 percent protein decreased from the previous year. Discounts continued the downward trend of recent years. |
| Tipo: Report |
Palavras-chave: Agricultural Finance; Crop Production/Industries; Demand and Price Analysis; Farm Management. |
| Ano: 1992 |
URL: http://purl.umn.edu/51191 |
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| Wilson, William W.; Dahl, Bruce L.. |
| Canola has become an important crop in the last decade in the U.S. Production of canola is risky and competes with other crops which have a range of risk reduction mechanisms. Alternative contracting strategies were evaluated by comparing returns to labor and management for growers and gross margins for processors. Alternative contracting strategies included no contract, fixed price with and without act of god provisions, and an oil premium contract. Grower returns and processor gross margins were simulated and resulting distributions were evaluated using stochastic efficiency with respect to a function. We estimated certainty equivalents and ranked contract preferences for both growers and processors by region in North Dakota. Grower and processor risk... |
| Tipo: Report |
Palavras-chave: Canola; Grower; Processor; Contracting; Risk; Stochastic Efficiency (SERF).; Agricultural Finance; Crop Production/Industries. |
| Ano: 2010 |
URL: http://purl.umn.edu/95751 |
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| Wilson, William W.; Dahl, Bruce L.; Johnson, D. Demcey. |
| Analytical models were developed in this paper to evaluate cost/risk tradeoffs of three alternative procurement strategies in the case of hard red spring (HRS) wheat. Results indicate a naive strategy has the lowest expected cost, but a high probability of not conforming to end-use requirements. Two alternative specifications for the constant share strategy result in higher probabilities of meeting requirements, but at higher costs. The opportunistic strategy results in a higher probability of meeting requirements than either of the other two alternative strategies at a comparable cost. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Crop Production/Industries. |
| Ano: 2000 |
URL: http://purl.umn.edu/36364 |
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| Wilson, William W.; Maxwell, Brett J.; Dahl, Bruce L.. |
| Consistency of functional characteristics in hard red spring (HRS) wheat is a concern confronting sellers and buyers. This research analyzes contract incentives for importers with respect to cost and potential risk of acceptance. A principal-agent framework is utilized to examine contract incentives. In the principal-agent contract, the principal offers the contract, the agent rejects or accepts the contract, and then decides how much effort to apply. All this is subject to risk for the agent and moral hazard for the principal. An example is presented, for which equilibrium contract terms are a base price of 454 cents per bushel for low quality wheat and a premium of 36 cents per bushel if high quality is achieved. The premium for high quality is... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Incentive Contact; Functional Characteristic; Wheat; Principal-Agent; Crop Production/Industries. |
| Ano: 2004 |
URL: http://purl.umn.edu/23559 |
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| Registros recuperados: 165 | |
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