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| Registros recuperados: 736 | |
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| Brown, Zachary S.; Bellemare, Marc F.. |
| We develop a method to structurally estimate principal-agent models by ordinary least squares (OLS). We set up a general principal-agent model which explicitly incorporates the wealth levels of each party and the opportunity cost to the agent of entering the contract. This yields an optimal contract that is linearized by way of an Nth order Taylor approximation. This in turn imposes N(3N-1)/2 restrictions on the parameters and yields an empirical test of the canonical principal-agent model. In the application, we consider the case where N = 2 and apply our method to a sample of land tenancy contracts in rural Madagascar. Empirical tests lead to consistent failure to reject the hypotheses derived from our structural model, which lends support to our... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Principal-Agent Models; Contract Theory; Structural Estimations; Risk and Uncertainty; C12; C13; D86; O12; Q12. |
| Ano: 2009 |
URL: http://purl.umn.edu/49368 |
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| Fabiosa, Jacinto F.. |
| The study finds that the emergence and expansion of the ethanol sector was associated with a fundamental transformation of the integration of the energy and agricultural sectors. In particular, the correlation structure between crude oil and grain prices increased dramatically, becoming more statistically significant, and with all anomalous signs corrected. Before the ethanol boom, the correlation of the crude oil price and corn was -0.117. It increased to 0.876 in the ethanol boom period. Soymeal correlation increased from 0.182 to 0.909, and distillers dried grains with solubles increased from -0.252 to 0.834. As a result, the energy market is also now impacting the livestock sector through feed costs, which account for more than half of total costs.... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Energy sector; Agricultural sector; Least-cost feed ration; Biofuel; Livestock Production/Industries; Production Economics; Q12; Q13; Q18. |
| Ano: 2009 |
URL: http://purl.umn.edu/49240 |
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| Anderson, John D.; Parkhurst, Gregory M.. |
| Changes to commodity programs in the 2002 Farm Bill increased the value of crop base acreages on which decoupled payments are received. The bill also expanded the availability of key conservation programs. This paper compares the value of payments from commodity programs (along with continued crop production) to the easement payment (and recreational lease revenue) available under the Wetland Reserve Program. A net present value model using risk-adjusted returns is employed in the analysis for Mississippi delta cropland containing rice, cotton, and soybean base. Sensitivity analysis is conducted on some of the key variables affecting the decision. |
| Tipo: Journal Article |
Palavras-chave: Conservation; Countercyclical payment; Direct payment; Net present value; WRP; Q12; Q15; Q18; C15. |
| Ano: 2004 |
URL: http://purl.umn.edu/43390 |
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| Lehmann, Niklaus; Finger, Robert. |
| We investigate impacts of climate change (CC) and likely increases in price risks on income, income variability, utility and on adaptation responses in crop production in Western Switzerland. To this end, a bio-economic model is used that combines a crop growth model with an economic decision model non-parametrically using genetic algorithms. Our analysis focuses on the farm-level, which enables us to integrate a much wider set of potential adaptation responses in our analysis. The model is applied to four scenarios that represent likely changes in environmental conditions due to CC as well as increasing price risks due to market liberalization, and combinations thereof. It shows that CC has the larger influence on farm-level income and utility as well as... |
| Tipo: Presentation |
Palavras-chave: Genetic Algorithms; Agricultural Modeling; Climate Change; Price risks; Risk and Uncertainty; Q12. |
| Ano: 2012 |
URL: http://purl.umn.edu/122533 |
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| Huhtala, Anni; Marklund, Per-Olov. |
| We present a framework for deriving shadow prices for negative environmental impacts regulated in agriculture. The shadow prices can be used as indicators of the costs of environmental regulation imposed as reflected in alternative farming technologies adopted. We illustrate our analytical findings with implications of the Finnish water protection policy measures on conventional and organic livestock farms over the period 1994-2002. Generally, the representative organic farm is found to be more technically efficient relative to its own technology than is the conventional representative farm. However, there is no statistical indication of a difference between these two particular representative farms in valuing the costs of undesirable output (manure) at... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Environmental performance; Technology choices; Nutrient surplus; Environmental Economics and Policy; H23; C21; Q12; Q21. |
| Ano: 2005 |
URL: http://purl.umn.edu/24575 |
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| Sidhu, R.S.; Sidhu, M.S.; Singh, J.M.. |
| During the year 2007-08, the area under green peas in Punjab was 18.45 thousand hectares with a production of 1.11 lakh tonnes. The total consumption at the farm level being just 2.54 per cent, the marketed surplus was 97.46 per cent. The maximum quantity of green peas was sold by the growers in the wholesale market (about 89%) and the rest was sold at the farm, in the village and in Apni Mandi. The marketing of green peas has been studied by three supply chains, viz. I: Producer → wholesaler (through commission agent) → retailer → consumer; II: Producer → retailer (through commission agent) → consumer; III: Producer → consumer. The net price received by the producer was 67 per cent, 69 per cent and 94 per cent in supply chains I, II and III respectively... |
| Tipo: Article |
Palavras-chave: Marketing efficiency; Green peas; Supply chains; Punjab; Price spread; Agricultural and Food Policy; Q13; Q12. |
| Ano: 2011 |
URL: http://purl.umn.edu/119379 |
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| Glauben, Thomas; Tietje, Hendrik; Weiss, Christoph R.. |
| The present study examines family and farm characteristics affecting the choice and the timing of intergenerational farm transfers. Using survey data which are linked to accounting data for 272 farms in Northern Germany, we use a probit approach to examine whether specific farm and family characteristics are related to the likelihood of succession within a given period. We go beyond the existing literature by applying a competing risk approach to study the process and thus the timing, respectively of the two competing events succession or exit from farming. We find that farm characteristics significantly influence succession considerations to the extent that they affect the value of the farm for the potential successor. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Intrafamily succession; Survey data; Competing risk; Farm Management; Q12; J26. |
| Ano: 2005 |
URL: http://purl.umn.edu/24699 |
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| Viet Cuong, Nguyen. |
| This paper measures impacts of production of crops, forestry, livestock and aquaculture on household welfare, poverty and inequality in rural Vietnam using fixed-effects regressions. Data used in this paper are from Vietnam Household Living Standard Surveys 2002 and 2004. It is found that impact estimates of the production of crops and forestry on per capita income and consumption expenditure are not statistically significant. Impact estimates of the livestock production are positive and statistically significant for per capita income, but not statistically significant for per capita expenditure. However, the aquacultural production has positive and statistically significant impacts on both income and expenditure. As a result, the aquacultural production... |
| Tipo: Article |
Palavras-chave: Agriculture; Farm households; Welfare; Poverty; Inequality; Vietnam; Agricultural and Food Policy; Food Security and Poverty; I32; Q12; O13. |
| Ano: 2011 |
URL: http://purl.umn.edu/118576 |
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| Registros recuperados: 736 | |
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