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| Registros recuperados: 89 | |
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| Richards, Timothy J.. |
| Retailers use sales "price promotions" for a number of potential reasons. There is relatively little research, however, on their strategic role among frequently consumed perishable products. Using a two-stage, nested logit model of retail equilibrium, we show that promotion will be most effective (ie. increase store-level sales) if products are highly differentiated, but stores are relatively similar. To test this hypothesis, we an oligopolistic model of promotion rivalry with category-level scanner data from the four largest supermarket retailers in a major U.S. metropolitan market. The results show that promotion has a greater impact on store share than product share, because the elasticity of substitution among stores is larger than the elasticity... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 2005 |
URL: http://purl.umn.edu/19336 |
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| Richards, Timothy J.. |
| Proposals for reform of the federal multiple-peril crop insurance program for specialty crops seek to change fees for catastrophic (CAT) insurance from a nominal fifty-dollar per contract registration fee to an actuarially sound premium. Growers argue that this would cause a significant reduction in participation rates, thus impeding the program's goals of eventually obviating the need for ad hoc disaster payments and worsening the actuarial soundness of the program. The key policy issue is, therefore, empirical one - whether the demand for specialty crop insurance is elastic or inelastic. Previous studies of this issue using either grower or county-level field crop data typically treat the participation problem as either a discrete insure / don't insure... |
| Tipo: Working or Discussion Paper |
Palavras-chave: California; Crop insurance; Discrete/continuous choice; Grapes; Multinomial logit.; Risk and Uncertainty. |
| Ano: 1998 |
URL: http://purl.umn.edu/28546 |
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| Richards, Timothy J.. |
| Recent proposals to reform the federal Multiple-Peril Crop Insurance Program for specialty crops raised concerns that a higher cost for catastrophic-level coverage would significantly reduce program participation. This study estimates the demand for three levels of insurance coverage (50%, 65%, 75%) using aggregate data from grape production in 11 California counties from 1986-96. A discrete/continuous econometric model of the choice of coverage level and the amount of insurance finds that the price-elasticity of demand for 50% coverage is elastic, suggesting that premium increases may indeed reduce participation significantly. Such increases may also cause a significant reallocation of growers among coverage levels. |
| Tipo: Journal Article |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2000 |
URL: http://purl.umn.edu/30828 |
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| Richards, Timothy J.; Padilla, Luis. |
| There is considerable evidence of high returns to public investments in agricultural R&D, but because intellectual property in agriculture is considered a public good, little R&D investment by growers themselves. This study investigates the potential for growers to increase commodity sales through product research, development, patenting and promotion in a dynamic commodity-market model. Theoretical hypotheses derived from the solution to this model are tested in an empirical example from Washington apples. Estimation results show that, despite significant spillovers to research and promotion expenditure, growers can improve the effectiveness of generic commodity promotion by funding R&D programs as well. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Research and Development/Tech Change/Emerging Technologies. |
| Ano: 2001 |
URL: http://purl.umn.edu/20497 |
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| Richards, Timothy J.; Manfredo, Mark R.. |
| Several explanations for merger activity exist for publicly traded firms, but none consider the unique aspects of cooperatives. This study develops a test for the hypothesis that cooperative consolidation occurs primarily in response to capital constraints associated with a lack of access to external equity capital. An empirical model estimates the shadow value of long-term investment capital within a multinomial logit model of transaction choice in a panel data set of the 100 largest U.S. cooperatives. The results substantially confirm the capital-constraint hypothesis. Thus, the primary implication is that internal growth may be a more viable alternative to consolidation if new forms of cooperative financing are developed. |
| Tipo: Journal Article |
Palavras-chave: Capital structure; Cooperative; Discrete choice; Joint ventures; Mergers; Multinomial logit; Strategic alliances; Agribusiness. |
| Ano: 2003 |
URL: http://purl.umn.edu/30718 |
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| Manfredo, Mark R.; Richards, Timothy J.. |
| Agricultural cooperatives tend to be riskier than investor-oriented firms, both in a business and financial sense. However, cooperative managers are often reluctant to actively manage risk. Although the risk management irrelevance proposition suggests that cooperative managers should be unable to add shareholder value through risk management activities, this study argues that there are several reasons why this is not likely to be the case for cooperatives. Several empirical examples are provided through numerical simulation of pro-forma financial statements from representative agricultural cooperatives. Using mean variance, expected utility and value-at-risk metrics, the results of these simulations show that various risk management strategies can... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Cooperative; Expected utility; Futures; Option; Risk management; Value at risk.; Risk and Uncertainty. |
| Ano: 2003 |
URL: http://purl.umn.edu/28540 |
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| Richards, Timothy J.; Jeffrey, Scott R.. |
| This study investigates the relationships between farm size, milk yield, cost of production, and technical efficiency in the Alberta dairy industry. Estimates of a stochastic production frontier are obtained with two alternative methods; an iterative "average frontier: (AF) procedure and a maximum-likelihood composed error (CE) term method. An index of technical efficiency is calculated for every herd in the sample, with the AF method resulting in an average efficiency ratio of 85 percent, and the CE method producing an average efficiency ratio of 83 percent. Regressions of production cost on milk output, herd size, and efficiency are used to test for the effects of size economies, yield economies, and technical efficiency on production cost. These results... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Livestock Production/Industries. |
| Ano: 1996 |
URL: http://purl.umn.edu/24094 |
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| Registros recuperados: 89 | |
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