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Coordinating to Eradicate Animal Disease, and the Role of Insurance Markets AgEcon
Hennessy, David A..
Farmed animal production has traditionally been a dispersed sector. Biosecurity actions relevant to eradicating infectious diseases are generally non-contractible, and might involve inordinately high transactions costs if they were contractible. If an endemic disease is to be eradicated within a region, synchronized actions need to be taken to reduce incidence below a critical mass so that spread can be contained. Using a global game model of coordination under public and private information concerning the critical mass required, this paper characterizes the success probability in an eradication campaign. As is standard in global games, heterogeneity in private signals can support a unique equilibrium. Partly because of strategic interactions, concentrated...
Tipo: Working or Discussion Paper Palavras-chave: Biosecurity; Coordination failure; Disease insurance; Endemic disease; Global games; Market access; Public information; Veterinary public health; Livestock Production/Industries; D8; H4; Q1.
Ano: 2007 URL: http://purl.umn.edu/7702
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The Value of USDA Situation and Outlook Information in Hog and Cattle Markets AgEcon
Good, Darrel L.; Irwin, Scott H.; Isengildina, Olga.
This study investigates the impact of six major USDA reports in hog and cattle markets: Cattle; Cattle on Feed; Cold Storage; Hogs and Pigs; Livestock, Dairy, and Poultry Outlook (LDPO); and World Agricultural Supply and Demand Estimates (WASDE). A TARCH-in-mean model, with dummy variables to measure the impact of USDA reports and other external factors, is used to model close-to-open live-lean hog and live cattle futures returns from January 1985 through December 2004. The analysis revealed a statistically significant impact of all but Cattle and Cold Storage reports in live/lean hog futures, and all but Cold Storage reports in live cattle futures. Hogs and Pigs reports had the highest impact on live/lean hog returns by increasing conditional standard...
Tipo: Journal Article Palavras-chave: Cattle; Event study; Hogs; Livestock; Public information; TARCH model; USDA reports; Livestock Production/Industries; Marketing.
Ano: 2006 URL: http://purl.umn.edu/8614
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