The Farm Animal Welfare Debate

animal welfare, farm animal welfare, natural food, Livestock Production/Industries,

The Dual Nature of Choice: When Consumers Prefer Less to More

Economists typically assume that more choice is better, and consumers are more likely to purchase from a larger choice set. However, marketing and psychological studies show this is not always the case. This paper reports results from experiments designed to further investigate the so-called excessive-choice effect. First, we investigate whether people would voluntarily reduce their choice set size. Second, we investigate whether the excessive-choice effect, found in previous studies, is robust to changes in experimental design. Third, we explore how personality influences preferences for choice set size. Results show that the excessive-choice effect indeed exists for some people, but on average people prefer greater choice.Consumer/Household Economics,

BLAME IT ON THE WEATHER: COST AND DESIGN OF MANURE MANAGEMENT UNDER EXTREME WEATHER CONDITIONS ON NORTH CAROLINA SWINE FARMS

The majority of pig farms in North Carolina use a lagoon-sprayfield system to manage manure. Although economical, the lagoon-sprayfield system is sensitive to weather conditions. This study examines the cost of manure management under extreme weather and scrutinizes National Resource Conservation Service (NRCS) design criteria and regulations.Farm Management,

MODEL SELECTION CRITERIA USING LIKELIHOOD FUNCTIONS AND OUT-OF-SAMPLE PERFORMANCE

Model selection is often conducted by ranking models by their out-of-sample forecast error. Such criteria only incorporate information about the expected value, whereas models usually describe the entire probability distribution. Hence, researchers may desire a criteria evaluating the performance of the entire probability distribution. Such a method is proposed and is found to increase the likelihood of selecting the true model relative to conventional model ranking techniques.Research Methods/ Statistical Methods,

Substitutability of Livestock Manure for Chemical Fertilizer: A Contingent Valuation Analysis of Crop Producers

The impact of new manure management regulations depends on the willingness of crop producers to accept manure. A contingent valuation analysis of crop producers was used to estimate the willingness of crop producers to accept or pay for manure. Results indicate that producers will pay a positive price on average, but some would require a payment before accepting manure.Farm Management,

Do Economic Restrictions Improve Forecasts?

A previous study showed that imposing economic restrictions improves the forecasting ability of food demand systems, thus warranting their use even when rejected in-sample. This study attempts to determine whether this is due solely to the fact that restrictions improve degrees of freedom. Results indicate that restrictions improve forecasting ability even when not derived from economic theory, but theoretical restrictions forecast best.Demand and Price Analysis,

EVALUATING FORECASTS OF DISCRETE VARIABLES: PREDICTING CATTLE QUALITY GRADES

Little research has been conducted on evaluating out-of-sample forecasts of limited dependent variables. This study describes the large and small sample properties of two forecast evaluation techniques for limited dependent variables: receiver-operator curves and out-of-sample-log-likelihood functions. The methods are shown to provide identical model rankings in large samples and similar rankings in small samples. The likelihood function method is slightly better at detecting forecast accuracy in small samples, while receiver-operator curves are better at comparing forecasts across different data. By improving forecasts of fed-cattle quality grades, the forecast evaluation methods are shown to increase cattle marketing revenues by $2.59/head.Marketing,

Do Economic Restrictions Improve Forecasts?

A previous study showed that imposing economic restrictions improves the forecasting ability of food demand systems, thus warranting their use even when rejected in-sample. This study attempts to determine whether this is due solely to the fact that restrictions improve degrees of freedom. Results indicate that restrictions improve forecasting ability even when not derived from economic theory, but theoretical restrictions forecast best.Demand and Price Analysis,

Demand for Multimedia in the Classroom: Do Students and Faculty Really Want it All?

Teaching/Communication/Extension/Profession,

Demand for Multimedia in the Classroom

This study elicits preferences for multimedia in the classroom for students and faculty members in agricultural economics. Employing an Internet-based conjoint ranking survey, the results show that students prefer multimedia instructional tools over a traditional chalkboard/whiteboard lecture format while faculty members do not. Neither students nor faculty members are enthusiastic about electronic textbooks, and students will accept them only if they save $80. Finally, preferences for multimedia are shown to differ with students who self-report differing note-taking abilities, preferences for chalkboard lectures, and the need for an engaging class. Successful multimedia adoption requires appropriate use and lowering costs for students.conjoint ranking, instruction, microeconomics, multimedia instruction, valuation, Demand and Price Analysis, Financial Economics, Institutional and Behavioral Economics, Research and Development/Tech Change/Emerging Technologies, Teaching/Communication/Extension/Profession, A22, Q19,