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Agricultural Contracting Update: Contracts in 2003 AgEcon
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
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Response to an Asymmetric Demand for Attributes: An Application to the Market for Genetically Modified Crops AgEcon
Lence, Sergio H.; Hayes, Dermot J..
A framework is developed for examining the price and welfare effects of the introduction of genetically modified (GM) crops. In the short run, non-GM grain generally becomes another niche product. However, more profound market effects are observed under some reasonable parameterizations. In the long run, consumer and producer welfare are usually greater after the introduction of GM technology. Nevertheless, in all instances some consumers and some producers lose. When identity preservation is expensive and cost savings are relatively small, both producer and consumer welfare are lower after introducing GM technology. Interestingly, this outcome is obtained even though all agents are individually rational.
Tipo: Working or Discussion Paper Palavras-chave: Asymmetric demand; Consumer response; Genetically modified (GM) crops; Market response; Non-GM crops; Price signals; Welfare analysis; Marketing; Research and Development/Tech Change/Emerging Technologies.
Ano: 2001 URL: http://purl.umn.edu/18699
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