摘要:

AbstractThis paper presents a model of international rent‐seeking activities by producers in both exporting and importing nations. The model is applied to the winter vegetable trade between the United States and Mexico. An analysis is made of the attempts to form export/import coalitions. Reasons for these failures are given. Due to past failures to impede trade, essentially free trade in winter vegetables between the two countries exists.

ISSN:0002-9092    

DOI:10.2307/1241300

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

AbstractTwo forms of control over corporate decision making are analyzed: direct control through stockholding and network control through interlocking boards of directors. A majority of the 222 large agribusiness firms studied had strong direct control by owners or cooperatives, while the largest firms lacked such control. Tests relating direct control type to level of network control exposure show that strong direct control is associated with weak network control and vice versa, with firm size being the major factor in explaining both types of control. For the largest firms, network‐based rather than direct control appears to limit management discretion.

ISSN:0002-9092    

DOI:10.2307/1241301

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

AbstractThe effect of adjustment costs on international trade has been captured in an ad hoc fashion in past analysis, whereas a certainty environment is many times assumed. In this article adjustment costs are explicitly considered in the modeling procedure of tobacco exports from Greece, and rational expectations are introduced. The results are consistent with considerable price competition, and a large difference between immediate and long‐run responses, due to adjustment costs, that explain in part the evolution of tobacco exports from Greece and suggest that higher elasticities might be found in international trade if adjustment costs are properly treated.

ISSN:0002-9092    

DOI:10.2307/1241302

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

AbstractThe stability of the demand for poultry meat and specification issues in its estimation are explored. The analysis concludes that the demand for poultry meat shifted out in the early 1970s. At the same time, the demand relationship between poultry and pork changed from substitution to independence. A second conclusion is that poultry price is predetermined for demand in annual U.S. data, while quantity is not. A predetermined price suggests several market structures. Exogeneity tests are performed to distinguish among them. The results are consistent with a competitive, constant returns‐to‐scale‐industry facing elastic factor supplies.

ISSN:0002-9092    

DOI:10.2307/1241303

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

AbstractThe behavior of a commodity's price‐return variance over time is critical to both the theory and practice of commodity option valuation. In this paper three models are used to forecast soybean price variance for the period during which a seasonal increase in variance has been found in previous studies. A time‐series model outperforms the ordinary least squares and naive models. The significance of the forecast error levels is then examined in terms of expected deviations above and below a price target for a put hedge. The resulting trade‐off between risk and return is shown by strike price and variance expectation.

ISSN:0002-9092    

DOI:10.2307/1241304

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

AbstractExchange rate uncertainty can have significant effects on the optimal hedging behavior of offshore commodity traders. In this paper, the standard commodity hedging framework is extended first to incorporate exchange rate uncertainty and second, to forward cover transactions in the foreign exchange market. The implications of exchange rate movements and forward cover decisions for offshore commodity hedgers are illustrated using data relevant to hedging Australian export wheat on the Chicago Board of Trade.

ISSN:0002-9092    

DOI:10.2307/1241305

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

AbstractThe spread of commercial pollination has received little attention in the literature analyzing the growth in U.S. agricultural productivity. Between World War I and 1960, growers of most fruits, nuts, and seeds came to realize that intensive bee pollination was essential to achieve high yields. Alfalfa seed growers were among the last groups to adopt commercial pollination. This article examines the dramatic impact that concentrating bees in alfalfa seed fields had on yields, which resulted in the restructuring of the alfalfa industry (the fourth most valuable commodity grown in the United States) in the 1950s.

ISSN:0002-9092    

DOI:10.2307/1241306

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

AbstractThis article presents a multiperiod mixed integer programming (MMIP) model of optimal machinery decisions. Infinite horizon valuation models of replacement and other investment situations are conceptualized in the context of a finite programming model. Dual properties of the MMIP model are used to identify and value opportunity costs involved in investment decisions of farm machinery. The interdependent nature of investment and production relationships necessary for solving these values emphasizes the importance of a holistic firm perspective in analyzing farm machinery investment strategies. An empirical situation is used to demonstrate model application.

ISSN:0002-9092    

DOI:10.2307/1241307

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

AbstractThis article shows how multiobjective programming, compromise programming, and filtering techniques can be used to tackle some problems found in agricultural planning. A real case involving the establishment of workers' cooperatives within an agrarian reform program in Andalusia (Spain) is studied. The underlying problem is to find a compromise between the following objectives: employment, seasonal labor, and business profitability. The multiobjective programming approach is used to find the efficient set among these objectives, and after a filtering procedure, a compromise between the objectives is established based on the compromise programming approach.

ISSN:0002-9092    

DOI:10.2307/1241308

出版商:Oxford University Press    

年代:1987

数据来源: WILEY

摘要:

AbstractThe measure of uncertainty in a risk‐programming problem has long posed a dilemma. The use of the variance of realized returns assumes that the distribution of realized returns is the same as the distribution anticipated by the decision maker prior to the start of production. Rejection of this maintained hypothesis requires either direct elicitation of these distributions or construction of another measure from realized data. A mean‐squared forecast error is considered an appropriate measure. Optimal solutions to a quadratic risk‐programming problem are obtained using this measure and compared to those obtained using traditional measures.

ISSN:0002-9092    

DOI:10.2307/1241309

出版商:Oxford University Press    

年代:1987

数据来源: WILEY