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INSTITUTIONAL INNOVATION TO INCREASE FARMERS' REVENUE: A CASE STUDY OF SMALL SCALE FARMING IN SHEEP: TRANSKEI REGION, SOUTH AFRICA AgEcon
D'Haese, Marijke F.C.; Verbeke, Wim; Van Huylenbroeck, Guido; Kirsten, Johann F.; D'Haese, Luc.
Commercial producers, brokers, exporters and spinners dominate the wool supply chain in South Africa. Until recently smallholder farmers in the Transkei region had limited access to a profitable market outlet for their wool. In response, the South African wool industry has taken the initiative to help local farmers by building shearing sheds, under which the local association can bulk the wool and trade directly with the brokers. More direct access to the wool brokers is a prerequisite for the farmer to develop a viable business. This article investigates on the effect of membership in the local shearing shed association on the farmers' revenue. A two-step regression model of the gross margin is used to analyse whether farmers selling through the...
Tipo: Conference Paper or Presentation Palavras-chave: Rural development; Institutional innovation; South Africa; Heckman procedure; Transaction costs.; Institutional and Behavioral Economics.
Ano: 2003 URL: http://purl.umn.edu/25888
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Forward Pricing Behavior of Corn and Soybean Producers AgEcon
Davis, Todd D.; Patrick, George F.; Coble, Keith H.; Knight, Thomas O.; Baquet, Alan E..
Forward pricing behavior of random samples of Indiana, Nebraska, and Mississippi crop producers was analyzed using Heckman’s two-step limited information maximum likelihood estimation procedure. Producers who forward priced during the 1995-1998 period generally expected to forward price in 1999 using similar techniques. Probit models were estimated for cash forward contracts and taking a direct position in futures or options separately and combined. Results provide limited support for the hypothesis that forward pricing should be analyzed as an adoption decision. Variables reflecting risk attitudes do affect the decision to use forward pricing, while variables to economic position affect the level of forward pricing.
Tipo: Journal Article Palavras-chave: Forward contracts; Futures; Grain marketing; Heckman procedure; Crop Production/Industries; Marketing; Production Economics; Q130; Q120.
Ano: 2005 URL: http://purl.umn.edu/43722
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