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| Chymis, Athanasios G.; James, Harvey S., Jr.; Konduru, Srinivasa; Pierce, Vern L.. |
| The paper analyzes the problem of asymmetric information between buyers and sellers in cattle auctions. An illustration is made regarding the vaccinations that the animals receive. Buyers do not know and cannot verify if sellers have vaccinated their animals forcing them to consider revaccination. Revaccination is only a part of the broader problem of information asymmetry that includes other quality issues and costs that can be saved, thereby increasing the welfare of both buyers and sellers. Structural characteristics of ranching, traditions and consumers' preferences are taken into account and a wider approach is attempted to explain the persistence of the problem in light of potential institutional solutions. We argue for a comprehensive empirical... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Livestock Production/Industries; Marketing. |
| Ano: 2004 |
URL: http://purl.umn.edu/26039 |
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| Konduru, Srinivasa; Bjornson, Bruce. |
| A concern in the political economy is how national income is shared between labor and capital. This study evaluates long-term changes in factor income shares in three agri-food industries, their attribution to the level of factor usage or to factor compensation rates, and relation to changes in capital intensity and factor productivity. We find long-term stability in the profit and labor shares of farm income, decline, in the profit share of agricultural serviced industry income, and increase in the profit share of food manufacturing income due to fewer productivity improvements being passed on to wage increases. |
| Tipo: Journal Article |
Palavras-chave: Agriculture; Factor shares; Food; GDP; National income; D33; E25; L66. |
| Ano: 2004 |
URL: http://purl.umn.edu/43474 |
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