Journal of Agricultural and Applied Economics
Adult Equivalence Scales Revisited [статья]
Опубликовано на портале: 21-11-2003Michael Demoussis, Vassilis Mihalopoulos Journal of Agricultural and Applied Economics. 2001. Vol. 33. No. 1.
Use of the Tobit model for estimation of adult equivalent scale (AES) parameters and expenditure equations presupposes that zero observations represent exclusively corner solutions. This paper tests for the underlying causes of zero observations and estimates accordingly the AES parameters, the household size in adult equivalents and the resulting expenditure equations and consumption profiles. The empirical application concerns Greek household “soft” and “hard” cheese consumption. The statistical results indicate that for the examined cheese categories the “double hurdle participation” model adjusted for non-normality and heteroskedasticity is the appropriate model for the estimation of AES parameters.
An Economic, Hydrologic, and Environmental Assessment of for the South Central Texas Region [статья]
Опубликовано на портале: 21-11-2003Dhazn Gillig, Bruce A. McCarl, Frederick O. Boadu Journal of Agricultural and Applied Economics. 2001. Vol. 33. No. 1.
Regional water scarcity has motivated the South Central Texas Regional Water Planning Group to actively develop water management plans to address long-/short-term regional water needs. This study, therefore, develops an integrated Edwards Aquifer groundwater and river system simulation model to determine the “best” choice of regional water management plans using mixed-integer linear programming. The economic, hydrologic, and environmental consequences of the “best” choice of regional and other water management plans and options are evaluated and compared. Results indicate a tradeoff between the economic and environmental benefits. A slight decrease in economic benefit results in a substantial increase in environmental benefit.
Опубликовано на портале: 21-11-2003Nicole A. Elmer, Amy Purvis Thurow, Jason L. Johnson, C. Parr Rosson Journal of Agricultural and Applied Economics. 2001. Vol. 33. No. 3.
The Dixit-Pindyck model was applied to examine the hypothesis that uncertainty associated with grapefruit production costs and returns is an important determinant of Texas grapefruit growers’ investment behavior. Freezes, price variability, and the effects of expanded trade were analyzed as risk factors. An investment decision rule based on a net-present value calculation would approve a 25-year commitment to a 20-acre grapefruit grove, given a 6-percent discount rate. The modified hurdle rate, calculated using and ex ante version of the Dixit-Pindyck model, is 24 percent. The major source of the risk borne by Texas grapefruit investors is from freezes, rather than from expanded trade.
Опубликовано на портале: 21-11-2003Burton C. English, S.B. Mahajanashetti, Roland K. Roberts Journal of Agricultural and Applied Economics. 2001. Vol. 33. No. 3.
Farmers are interested in knowing whether applying inputs at variable rates across a field is economically viable. The answer depends on the crop, the input, their prices, the cost of variable rate technology (VRT) versus uniform rate technology (URT), and the spatial and yield response variability within each field. Methods were investigated for determining the range of spatial variability over which the return to VRT covers its additional cost compared with URT in fields with multiple management zones. Models developed in this article, or variants thereof, could be used to help farmers make the VRT adoption decision.
Опубликовано на портале: 21-11-2003Vangelis Tzouvelekas, Christos Pantzios, Christos Fotopoulos Journal of Agricultural and Applied Economics. 2001. Vol. 33. No. 1.
Using recent advances in the stochastic production frontier framework, this paper presents an empirical analysis of technical, allocative and economic efficiency of a sample of organic and conventional cotton farms located in Greece. The results suggest that both farm types in the sample examined are technically, allocatively and economically inefficient. Farmer’s age and education and farm size are important factors in explaining differentials in efficiency estimates. In comparative terms, organic farms exhibit lower efficiency scores vis-à-vis their conventional counterparts in terms of technical and economic efficiency; regarding allocative efficiency both farm types are almost equally inefficient. Low efficiency scores in both types of farming may be attributed
Опубликовано на портале: 21-11-2003Keith O. Fuglie, Thomas S. Walker Journal of Agricultural and Applied Economics. 2001. Vol. 33. No. 3.
Private investment in plant breeding has been increasing while public plant breeding has stagnated or declined. Moreover, research investment among crop commodities is uneven. Using a comprehensive survey of U.S. plant breeders from 1994, we use a simultaneous equations model to examine incentives and public-private tradeoffs in plant breeding research among 84 crop commodities. Allocation of private breeders among crops is strongly influenced by market size, hybrid seed technology, and ease of breeding improvement. In general, the allocation of public breeders does not appear to “crowd out” private breeders, but some competition may occur in applied breeding. Public breeding declines as private breeding increases on a commodity. Public breeding is also affected by market size, ease of breeding improvement, and political influence.
Опубликовано на портале: 21-11-2003David Letson, B.D. McCullough Journal of Agricultural and Applied Economics. 2001. Vol. 33. No. 3.
In this paper we seek to characterize the robustness of the ENSO/soybean price relationship and to determine whether it has practical economic content. If such a meaningful relationship exists, the implications could be profound for commodity traders and for public sector investments in climate forecasting capabilities. Also, the validity of economic evaluations of climate impacts and climate forecasts based on ENSO-price independence would come into question. Our findings suggest a relationship between interannual climate and soybean prices, although we are not able to attribute the relationship to ENSO or to say that ENSO is economically important.
Evaluating the Short- and Long-run Economic Impacts of the Virginia-Maryland Regional College of Veterinary Medicine [статья]
Опубликовано на портале: 21-11-2003Binzhang Liu, Shukla Kshirsagar, Craig Thatcher, George W. Norton, Thomas G. Johnson Journal of Agricultural and Applied Economics. 2001. Vol. 33. No. 1.
Colleges of veterinary medicine are often asked to provide evidence of the economic impacts of their activities. This paper presents methods for evaluating a veterinary college and applies them to the Virginia-Maryland Regional College of Veterinary Medicine. It assesses short-run impacts on income and employment using input-output analysis. Long-run benefits are estimated using a combination of economic surplus analysis, travel cost analysis and demand estimation, animal-owner willingness-to-pay based on a survey of practicing veterinarians, and earnings differentials.
Опубликовано на портале: 21-11-2003Leigh J. Maynard, Carl R. Dillon, Joy Carter Journal of Agricultural and Applied Economics. 2001. Vol. 33. No. 1.
Some suppliers of broilers without giblets (WOG) offer customers a choice between paying Urner Barry’s WOG quote or a formula price based on futures prices. From a buyer’s perspective, the formula price examined in this study is second-degree stochastic dominant. The formula price allows the seller to set perfect cross-hedges of WOGs with corn and soymeal. Stochastic dominance and mean variance results suggested that the seller’s dominant strategy would shift from the Urner Barry quote to the hedged formula price as risk aversion increased. Input-based formula pricing may be usefully extended to other industries.
Handler Reactions to Potential Compulsory Country-of-Origin Labeling of Fresh or Frozen Beef [статья]
Опубликовано на портале: 21-11-2003Alvin R. Schupp, Jeffrey Gillespie Journal of Agricultural and Applied Economics. 2001. Vol. 33. No. 1.
Interest in mandatory county-of-origin labeling of fresh meats exists at both the state and national levels. A sample of beef handling firms in Louisiana (processors, retailers and restaurants) was surveyed by telephone to identify the characteristics of these firms that would help explain their decision to support or reject the law. A factor supporting the label use was a belief that the label is valuable to buyers. Negative factors were that the firm is a restaurant, is part of a chain or franchise, or has experience handling imported beef, and the belief that labeling merely reflects more government interference in free trade.
Implications of Lawn Care and Landscape Maintenance Firm Profiles for Adoption of Pest-Management Practices [статья]
Опубликовано на портале: 21-11-2003B.J. Hubbell, Wojciech J. Florkowski, R. Oetting, S.K. Braman, C.D. Robacker Journal of Agricultural and Applied Economics. 2001. Vol. 33. No. 1.
Firm characteristics and managers’ attitudes and opinions about pesticide safety were used to classify lawn care and landscape management firms into four categories and compare them using the logit procedure. Survey data obtained from 223 firms was used in the empirical investigation of the adoption of the IPM techniques. Results showed the need for continued transfer of new technology to independently owned firms, multidisciplinary assessment of IPM methods before their transfer to ascertain the economic viability of proposed methods, public investment in programs training workers in knowledge-based pesticide applications, possible assistance in obtaining capital, and investment in consumer education.
Опубликовано на портале: 21-11-2003Constantinos P. Katrakilidis, Nikolaos M. Tabakis Journal of Agricultural and Applied Economics. 2001. Vol. 33. No. 1.
This study investigates determinants of private capital formation in Greek agriculture and tests the “complementarity” against the “crowding out” hypothesis using multivariate cointegration techniques and ECVAR modeling in conjunction with variance decomposition and impulse response analysis. The results provide evidence of a significant positive causal effect of government spending on private capital formation, thus supporting the “complementarity” hypothesis for Greek agriculture.
Опубликовано на портале: 21-11-2003Laura M. Cheney, A. Blake Brown, Takashi Yamano, Michael Masterovsky Journal of Agricultural and Applied Economics. 2001. Vol. 33. No. 1.
Factors unique to the turkey industry suggest that conclusions concerning market structure and demand specification drawn from aggregate poultry data cannot necessarily be extrapolated to the turkey industry. The Wu-Hausman endogeneity test is used to examine demand specifications and industry structure specifically for turkey meat. In contrast to general poultry, quantity—not price—is found to be predetermined in demand models that use annual turkey data. Quarterly demand analysis suggests this result stems from biological cycles that limit a producer’s ability to react to price change and the use of a weighted average for determining price and quantity.
Опубликовано на портале: 21-11-2003Martin A. Garrett Journal of Agricultural and Applied Economics. 2001. Vol. 33. No. 3.
This article provides additional empirical evidence concerning the choice of the mules as the dominant draft animal in southern agricultural production in the latter 19th and early 20th century. While the mule was uniquely suited to the crops and climate of the region, two divergent arguments have been presented as to why the mule was the dominant draft animal in southern agricultural production. This research reevaluates these arguments and provides evidence that it was, in fact, the characteristics of this hybrid that made it the preferred draft animal for the South.
Опубликовано на портале: 21-11-2003Molly Espey, Kwame Owusu-Edusei Journal of Agricultural and Applied Economics. 2001. Vol. 33. No. 3.
The effect on housing prices of proximity to different types of parks is estimated using a unique data set of single-family homes sold between 1990 and 1999 in Greenville, South Carolina. While the value of park proximity is found to vary with respect to park size and amenities, the estimates from this study are larger than previous studies. The greatest impact on housing values was found with proximity to small neighborhood parks, with the positive impact of proximity to both small and medium-size parks extending to homes as far as 1500 feet from the park.