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Governance Issues in the Principal-Agent Framework: Producing Cellulosic Ethanol in Michigan AgEcon
Pandey, Vivek; Shanoyan, Aleksan; Ross, Brent.
This article analyzes the incentives and compensation problems faced by cellulosic ethanol producer and logging firms and the consequent impact on the organization of the wood based cellulosic ethanol industry in the US. The success of this relationship is central to setting up the biofuel industry in Michigan and in the US at large. The theoretical results indicate that specification contract under the principal-agent framework is of limited utility due to’ metering’ problem when the principal contracts with multiple agents for the supply of feedstock.. Alternative arrangements including JVs have the potential to provide close to first best solutions.
Tipo: Conference Paper or Presentation Palavras-chave: Principal-Agent; Cellulosic Ethanol; Michigan; Multiple agents; Asymmetric Information; Agribusiness; Institutional and Behavioral Economics; Resource /Energy Economics and Policy; D82; D86; L23; L24; Q42.
Ano: 2010 URL: http://purl.umn.edu/61362
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Investment and Income Responses to Marketing Channel Choice AgEcon
Gow, Hamish R.; Shanoyan, Aleksan.
Tipo: Conference Paper or Presentation Palavras-chave: Marketing.
Ano: 2006 URL: http://purl.umn.edu/21292
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Is the Facilitation of Sustainable Market Access Achievable? Design and Implementation Lessons from Armenia AgEcon
Gow, Hamish R.; Shanoyan, Aleksan.
Over the past three decades the globalization in agri-food sector has been accompanied by a dramatic restructuring, liberalization and privatization of markets often with serious adverse consequences for small farmers in developing and transition countries. Consequently, governments and the international donor community have markedly shifted their development policies from traditional technology transfer approaches towards more market-driven approaches of linking farmers to markets. The international agricultural development literature has begun exploring the appropriate structure of third-party facilitated institutions and enforcement mechanisms to support linking small farmers to markets. Based upon a series of long-term qualitative and quantitative...
Tipo: Conference Paper or Presentation Palavras-chave: Market Linkages; Small Farmers; Institutions; Governance; Enforcement; Armenia; Agricultural and Food Policy; Institutional and Behavioral Economics; Political Economy.
Ano: 2010 URL: http://purl.umn.edu/90818
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Third-Party Facilitation of Investments in Private Enforcement Capital: Evidence from Armenian Dairy Industry AgEcon
Shanoyan, Aleksan; Gow, Hamish R.; Peterson, H. Christopher; Ross, Brent.
Globalization and the changing structure of agri-food procurement channels have forced governments and international development community to shift their efforts towards linking farmers to markets through high value added contractual marketing relationships. A critical pre-condition for establishing economically sustainable value chain linkages is the presence of effective contract enforcement mechanisms. In many countries both public and private contract enforcement is poor resulting in high hold-up risk and underinvestment into relationships. This creates an immense challenge for donors and policy makers in facilitating sustainable relationships along the supply chain. This study explores the key elements in the design and implementation of assistance...
Tipo: Conference Paper or Presentation Palavras-chave: Market linkages; Contract enforcement; Dairy; Armenia; Agribusiness; International Development.
Ano: 2010 URL: http://purl.umn.edu/61410
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