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Registros recuperados: 30
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An Economic Analysis of Generic Milk Advertising Impacts on Markets in New York State AgEcon
Lenz, John E.; Kaiser, Harry M.; Chung, Chanjin.
Tipo: Working Paper Palavras-chave: Livestock Production/Industries; Marketing.
Ano: 1997 URL: http://purl.umn.edu/122720
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Designing a Voluntary Beef Checkoff AgEcon
Norwood, F. Bailey; Winn, Chris; Chung, Chanjin; Ward, Clement E..
Recently, the U.S. Supreme Court considered whether the mandatory fees imposed by the beef checkoff violates the First Amendment. As a precaution, many states began forming voluntary beef checkoffs, where funds would be raised through voluntary contributions. This study conducted a survey of Oklahoma cattle producers to determine what type ofvoluntary checkoff design would receive the greatest support. The most popular checkoff placed a large emphasis on advertising and a slightly lower checkoff fee. The survey also tested the ability of a provision point mechanism to limit free-riding. The mechanism was not as effective as in other studies which used laboratory experiments.
Tipo: Journal Article Palavras-chave: Beef marketing; Checkoff; Free-rider; Provision point mechanism; Public good; Agricultural and Food Policy; Livestock Production/Industries.
Ano: 2006 URL: http://purl.umn.edu/10149
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Determinants of Temporal Variations in Advertising Effectiveness AgEcon
Chung, Chanjin; Kaiser, Harry M..
This article develops a varying-parameter advertising model which specifies advertising parameters as a function of variables representing advertising strategies and market environments to explain the varying nature of the advertising responses. Unlike prior models, this model allows researchers to examine the sources of change in advertising effectiveness over time. The model is applied to the New York City fluid milk market for the period from January 1986 through June 1995. Results indicate that advertising strategies and market environments play important roles in determining advertising effectiveness. Particularly, demographic factors were more important than economic factors. The results also suggest that when a market is in an unfavorable or...
Tipo: Working Paper Palavras-chave: Determinants; Generic advertising effectiveness; Milk; Time-varying parameters; Marketing.
Ano: 1998 URL: http://purl.umn.edu/122689
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Distribution of Gains from Research and Promotion in Multi-Stage Production Systems: Further Results AgEcon
Chung, Chanjin; Kaiser, Harry M..
In this study, we examine the distributional effects of research versus consumer promotion. A few years ago, a notable article by Wohlgenant (AlAE 75, 1993) investigated this issue and concluded that producers would benefit more from research on farm-level production than from research on marketing services and promotion. His findings have drawn important policy implications for the allocation of checkoff funds, especially for those producer groups (e.g., dairy, beef, and pork) who spend a large share of their funds on consumer promotion. We challenge his conclusions. We contend that his findings are confined to a special case, the parallel shift in demand and supply. To verify our claim, we reexamined his findings with an alternative case, a pivotal...
Tipo: Working Paper Palavras-chave: Marketing; Research and Development/Tech Change/Emerging Technologies.
Ano: 1998 URL: http://purl.umn.edu/122701
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DO FARMERS GET AN EQUAL BANG FOR THEIR BUCK FROM GENERIC ADVERTISING PROGRAMS? A THEROETICAL AND EMPIRICAL ANALYSIS AgEcon
Chung, Chanjin; Kaiser, Harry M..
This study presents a theoretical and empirical analysis of the distribution of generic advertising benefits across individual producers. We develop a closed-economy partial equilibrium model that allows for the presence of producer heterogeneity in supply response. Analytical results indicate that producers having less elastic supply response capture more benefits per dollar expended than producers with more elastic supply response. The extent of unequal distribution depends on parameters characterizing industries. The inequality may not be a significant problem for some industries, especially where the firm-level supply elasticities are not substantially different among producers, but it may be an important issue when industries have substantial...
Tipo: Journal Article Palavras-chave: Marketing.
Ano: 2000 URL: http://purl.umn.edu/30841
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Does Generic Advertising Help or Hurt Brand Advertising? AgEcon
Suh, Daeseok; Chung, Chanjin.
The purpose of this study is to investigate whether the generic advertising helps or hurts the brand advertising within the differentiated product environments. We develop an analytical model that includes both generic and brand advertising expenditures considering vertical product differentiation. Then the analysis is devoted to examine how marginal effects of expenditure affect each other under product differentiation. To help examine the relationship, we also include a new variable, the degree of product differentiation. Analytical results show that when the generic advertising increases the product differentiation, the high quality brand tends to take benefits while the low quality brand loses. When generic advertising includes messages that do not...
Tipo: Conference Paper or Presentation Palavras-chave: Check off; Generic advertising; Brand advertising; Vertical product differentiation; Marketing.
Ano: 2009 URL: http://purl.umn.edu/49557
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Dynamic Assessment of Bertrand Oligopsony in the U.S. Cattle Procurement Market AgEcon
Ji, In Bae; Chung, Chanjin.
The new empirical industrial organization approach with the Bertrand model is employed to measure the oligopsony market power in the U.S. cattle procurement market. The assumption of price competition (Bertrand model) based on the nature of cattle production such as cattle cycle and seasonality is used and compared to quantity competition (Cournot model). The empirical results show that the oligopsony market power exists in the U.S. cattle procurement market. The cattle cycle and seasonality affect the oligopsony market power and the cattle cycle causes the change of market power. However, concentration has a negative effect on the oligopsony market power.
Tipo: Conference Paper or Presentation Palavras-chave: Cattle cycle; Concentration; Market power; NEIO; Oligopsony; Seasonality; Agribusiness; Demand and Price Analysis; Industrial Organization; Livestock Production/Industries; Marketing; Q13; L13; L16.
Ano: 2011 URL: http://purl.umn.edu/103558
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Dynamic Assessment of Oligopoly, Oligopsony Power, and Cost Efficiency using the New Empirical Industrial Organization in the U.S. Beef Packing Industry AgEcon
Ji, In Bae; Chung, Chanjin.
In this paper, the new empirical industrial organization approach with a dynamic model is simultaneously employed to measure the degree of oligopoly, oligopsony power, and cost efficiency in the U.S. beef packing industry. The oligopsony power is estimated with two effects: cash cattle procurement market power and captive supply market power. The model is estimated by the Generalized Method of Moments using monthly data from 1990 to 2006. The empirical results reveal the presence of market power in both the beef retail market and the cattle procurement market in the sample period. The captive supply is a source of oligopsony market power, but the effect is considerably small. The oligopsony market power is greater and less stable than oligopoly market...
Tipo: Conference Paper or Presentation Palavras-chave: Beef packing industry; Captive supply; Cost efficiency; Industrial concentration; Market power; NEIO; Agricultural and Food Policy; Industrial Organization; Livestock Production/Industries; Marketing; Q13.
Ano: 2010 URL: http://purl.umn.edu/61641
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ECONOMICS OF SOYBEAN BIOTECHNOLOGY IN THE LIVESTOCK INDUSTRY AgEcon
Chung, Chanjin; Pettigrew, James E..
Using a linear programming model, this study evaluates the effects of commercializing new biotech-soybean varieties on the livestock producers’ feed costs and formulations. Major findings include: (1) development of new alternative soybeans would benefit poultry meat producers more than egg and pig meat producers; (2) new soybean meals would save more feed costs in starter diets than in either grower or finisher diets; and (3) economic advantages of new soybean meals were highly sensitive to the availability of alternative protein sources but less sensitive to changes in ingredient prices.
Tipo: Journal Article Palavras-chave: Crop Production/Industries; Research Methods/ Statistical Methods.
Ano: 1998 URL: http://purl.umn.edu/34507
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Effects of Country of Origin Labeling in the U.S. Meat Industry with Imperfectly Competitive Processors AgEcon
Chung, Chanjin; Zhang, Tong; Peel, Derrell S..
The study examines the impacts of implementing mandatory country of origin labeling (COOL) on producer and consumer welfare in the U.S. meat industry. The equilibrium displacement model developed in this study includes twenty-nine equations representing retail-, processing-, and farm-level equilibrium conditions for the beef, pork, and chicken industries. Unlike previous studies, the model allows trade between domestic- and foreign-origin products and considers the imperfectly competitive market structure of meat processers. Empirical results show that without a significant increase in domestic meat demand, producers are not expected to benefit from the mandatory COOL implementation. Results of a sensitivity analysis indicate that consumers tend to bear...
Tipo: Journal Article Palavras-chave: Checkoff; Country of origin labeling; Imperfect competition; Price elasticity; Marketing.
Ano: 2009 URL: http://purl.umn.edu/59255
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Estimation of Price Elasticities from Cross-Sectional Data AgEcon
Chung, Chanjin; Dong, Diansheng; Kaiser, Harry M.; Schmit, Todd M..
This study develops an empirical framework that can be used to estimate quality-adjusted price elasticities from cross-sectional data, which are theoretically consistent and comparable to elasticities from time-series data. The new approach shows the importance of properly adjusting for quality variation in demand analysis.
Tipo: Conference Paper or Presentation Palavras-chave: Demand and Price Analysis.
Ano: 2001 URL: http://purl.umn.edu/20517
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Factors Affecting Adoption of Recommended Management Practices in Stocker Cattle Production AgEcon
Johnson, Rachel J.; Doye, Damona G.; Lalman, David L.; Peel, Derrell S.; Raper, Kellie Curry; Chung, Chanjin.
Binary logit regression models were used to estimate factors affecting adoption of recommended management practices. Variables analyzed include aspects of farm structure, human capital, farm objectives, and production system employed by the producer. Results reveal that operation size and dependency upon income from the stocker operation, in particular, influence the adoption of recommended practices. Older producers and those pursuing a year-round production strategy were found to lag in adoption.
Tipo: Journal Article Palavras-chave: Beef production; Logit; Management practices; Stocker cattle; Agribusiness; Farm Management; Industrial Organization; Labor and Human Capital; Livestock Production/Industries; Q12; Q16.
Ano: 2010 URL: http://purl.umn.edu/57153
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Generic Advertising in Concentrated and Differentiated Agricultural Markets AgEcon
Han, Sungill; Chung, Chanjin; Suh, Daeseok.
This study develops an analytical framework to examine the impact of generic advertising on brand advertising with alternative assumptions on demand changes (shift-up and rotation), product differentiation, market concentration, and relationship between commodity and brand advertising programs. The newly developed model allows one to determine the relationship between generic and brand advertising, which has not been clearly shown in previous studies. Analytical results show that when generic advertising leads to an inelastic demand, generic advertising would help brand advertising and could decrease the optimal brand advertising expenditures. However, when generic advertising leads to an elastic demand, it would negatively affect the profitability of...
Tipo: Conference Paper or Presentation Palavras-chave: Generic advertising; Brand advertising; Product differentiation.; Agribusiness; Demand and Price Analysis; Industrial Organization; Marketing.
Ano: 2011 URL: http://purl.umn.edu/103739
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Horizontal Consolidation in the U.S. Food Processing Industry: Boon or Bane? AgEcon
Tostao, Emilio; Chung, Chanjin.
This study measured the effect of increased concentration on industry market power and cost efficiency, using a bilateral oligopoly model. Cost efficiency gains dominate market power effects from increase in industry concentration. This result is consistent with previous finding that consolidation in the U.S. beef industry is efficiency driven.
Tipo: Conference Paper or Presentation Palavras-chave: Agribusiness.
Ano: 2005 URL: http://purl.umn.edu/35497
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IDENTIFYING THE EFFECTS OF GENERIC ADVERTISING ON THE HOUSEHOLD DEMAND FOR FLUID MILK AND CHEESE: A TWO-STEP PANEL DATA APPROACH AgEcon
Schmit, Todd M.; Dong, Diansheng; Chung, Chanjin; Kaiser, Harry M.; Gould, Brian W..
A two-step model with sample selection is applied to panel data of U.S. households to estimate at-home demand for fluid milk and cheese, incorporating advertising expenditures. The model consistently accounts for sample-selection bias, unobserved household heterogeneity, and temporal correlation. Generic advertising programs for fluid milk and cheese were effective at increasing conditional purchase quantities, with very little effect on the probability of purchase. In contrast to aggregate studies, the long-run generic advertising elasticities for cheese were larger than for those of fluid milk. Advertising response varied considerably across sub-product classes, while branded advertising expenditures were largely insignificant.
Tipo: Journal Article Palavras-chave: Demand and Price Analysis; Marketing.
Ano: 2002 URL: http://purl.umn.edu/31088
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Identifying the Extensive and Intensive Effects of Generic Advertising on the Household Demand for Fluid Milk and Cheese AgEcon
Schmit, Todd M.; Chung, Chanjin; Dong, Diansheng; Kaiser, Harry M.; Gould, Brian W..
A two-step sample selection model is used to estimate household demand equations for fluid milk and cheese products incorporating national generic advertising. This approach allows us to disentangle the incidence of the advertising effect on the probability of purchase and changes in the level of consumption. Generic advertising for fluid milk had a predominantly intensive effect on athome fluid milk demand, implying that advertising was relatively more effective at increasing the consumption of current consumers. Conversely, the at-home cheese demand response to generic cheese advertising was almost exclusively extensive, with virtually the entire increase in quantity demanded due to an increase in the household’s probability of purchase.
Tipo: Working Paper Palavras-chave: Consumer/Household Economics; Marketing.
Ano: 2001 URL: http://purl.umn.edu/122642
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Impact of Generic Milk Advertising on New York State Markets AgEcon
Kaiser, Harry M.; Chung, Chanjin.
This report examines the responsiveness of fluid milk sales to milk advertising in the New York City, Albany, Syracuse, Rochester, and Buffalo markets. Fluid milk demand equations for New York City, Albany, Syracuse, Rochester, and Buffalo were estimated with monthly data from 1986-2000, which included generic milk advertising expenditures Generic milk advertising had a positive impact on milk sales in all markets, and was statistically significant in three out of the five markets. The model was then simulated to determine the impact of the New York state portion of advertising expenditures on producer milk prices and returns. A benefit-cost ratio was also computed for each market, and the weighted average for New York state was equal to 2.12 indicating...
Tipo: Working Paper Palavras-chave: Livestock Production/Industries; Marketing.
Ano: 2002 URL: http://purl.umn.edu/122631
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Impact of Generic Milk Advertising on New York State Markets AgEcon
Kaiser, Harry M.; Chung, Chanjin.
Tipo: Working Paper Palavras-chave: Livestock Production/Industries; Marketing.
Ano: 1999 URL: http://purl.umn.edu/122677
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Integrating the Structural Auction Approach and Traditional Measures of Market Power AgEcon
Tostao, Emilio; Chung, Chanjin; Brorsen, B. Wade.
This study asks the question, what is the relationship between traditional models of market power and structural auction models? An encompassing model is derived that considers both price markdowns due to bid shading during an auction and price markdowns at the industry-level due to imperfect competition. Data from a cattle procurement experimental market is used to compare the appropriateness of the two alternative theories. Regression results show that while the number of firms is more important than the number of bidders on lot of cattle in explaining pricing behavior in the game, the number of bidders does contain some unique information and should be included in the model. Both the traditional NEIO and structural auction approaches overestimated...
Tipo: Conference Paper or Presentation Palavras-chave: Marketing.
Ano: 2006 URL: http://purl.umn.edu/21244
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PANEL DATA DOUBLE-HURDLE MODEL: AN APPLICATION TO DAIRY ADVERTISING AgEcon
Dong, Diansheng; Chung, Chanjin; Kaiser, Harry M..
In this study, we extend to panel data structures the double-hurdle model typically used in cross-sectional data. The new double-hurdle model can account not only for the censored nature of commodity purchases, but also for the dynamics of the purchase process. In this model, a flexible error structure is assumed to account for state dependence and household-specific heterogeneity. In the empirical application for milk purchase, we find that generic advertising increases the probability of market participation as well as the purchase quantity and incidence. Temporal dependence is also found in both purchase and participation equations.
Tipo: Conference Paper or Presentation Palavras-chave: Double-hurdle model; Panel data; Household purchase; Milk; Advertising; Heterogeneity; State dependence; Simulated maximum likelihood; Marketing.
Ano: 2001 URL: http://purl.umn.edu/20502
Registros recuperados: 30
Primeira ... 12 ... Última
 

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