|
|
|
|
|
| Cross, Robin M.; Buccola, Steven T.; Thomann, Enrique A.. |
| In this article, we extend the variable delivery claim framework (Cross, Buccola, and Thomann, 2006) to examine the option-to-cheat, that is, the option to shift production between contracts ex post. We use this framework to provide a solution to the age-old conflict between enforcement and the cooperative tradition of providing a "home" for member produce. We show that, in contrast to Nourse's competitive yardstick hypothesis, the value of the cooperative-provided option increases as market competition intensifies. When the option-to-cheat is fairly-priced, it is Pareto improving, increasing grower returns, lowering cooperative per-unit costs and reducing contract shortfalls for investor-owned rivals at no additional per-unit cost. Our valuation... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing. |
| Ano: 2006 |
URL: http://purl.umn.edu/21158 |
| |
|
|
| Cross, Robin M.; Plantinga, Andrew J.; Stavins, Robert N.. |
| We examine the value of terroir, which refers to the special characteristics of a place that impart unique qualities to the wine produced. We do this by conducting a hedonic analysis of vineyard sales in the Willamette Valley of Oregon to ascertain whether site attributes, such as slope, aspect, elevation, and soil types, or designated appellations are more important determinants of price. We find that prices are strongly determined by sub-AVA appellation designations, but not by specific site attributes. These results indicate that the concept of terroir matters economically, although the reality of terroir – as proxied for by locational attributes – is not significant. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Wine; Vineyard; Hedonic Price Analysis; Agricultural and Food Policy; C2; Q11. |
| Ano: 2011 |
URL: http://purl.umn.edu/101289 |
| |
|
|
|
