QUANTIFYING GAINS TO RISK DIVERSIFICATION USING CERTAINTY EQUIVALENCE IN A MEAN-VARIANCE MODEL: AN APPLICATION TO FLORIDA CITRUS

The marginal benefit and cost of diversification for Florida orange producers is analyzed using certainty equivalents. Results indicate that for moderate and high levels of risk aversion, diversification into strawberry, grapefruit, or additional orange production is not optimal. However, moderately risk averse Florida orange producers can gain by diversifying into grapefruit production if the annual amortized fixed costs can be reduced by as little as 10 percent.Risk and Uncertainty,

Impact of Government Payments, Depreciation and Inflation on Investment Behavior in American Agriculture Sector Using Sample of Kansas Farms

A farm’s physical investment is affected by its fundamental q and by its financial situation, with the later comprising both the firm’s liquidity and its possibility of facing capital market imperfections. This study determines the effects of government payments, depreciation, and inflation on crop farm machinery and equipment investment behavior employing the Nonlinear Generalized Method of Moment (GMM) estimator to estimate the investment system. The magnitude of the lagged cash flows such as government payments, cash crop income, and grain income were largely responsible for determining farm investment behavior in the Kansas agriculture sector. An increase in lagged machinery and equipment depreciation and lagged farm motor vehicle and listed property depreciation increases total crop farm investment substantially for an average farm. Statistically, there is no evidence of inflation affects on crop farm machinery investment behavior.Investment, Liquidity, fundamental q, government payments, depreciation, inflation, Agribusiness, Agricultural Finance, Crop Production/Industries, Farm Management, Financial Economics, Livestock Production/Industries, Production Economics,

DETERMINANTS OF AGRICULTURAL ECONOMIC FACULTY SALARIES: A QUARTER OF A CENTURY LATER

Factors influencing the salaries of university agricultural economists were examined and compared to previous work. Results suggest the impact of publication output has remained relatively constant for the past 25 years, while other factors like grantsmanship have changed significantly. Additional analyses suggest significant impacts of appointment apportionment and Ph.D. programs.Teaching/Communication/Extension/Profession,

An Analysis of Efficiency of Midwestern Agricultural Cooperatives

Agribusiness,

RESEARCH PRODUCTIVITY AND SELECTED CHARACTERISTICS OF AGRICULTURAL ECONOMICS FACULTY IN THE SOUTHERN REGION: A QUARTER OF A CENTURY LATER

Productivity and characteristics of southern agricultural economics faculty was compared to other regional faculty. With few exceptions, faculty members in the Southern region are as productive as their counterparts. We also found that the majority of respondents in all regions considered themselves in the top-quartile in all areas.Teaching/Communication/Extension/Profession,

The ability of the National Early Warning Score (NEWS) to discriminate patients at risk of early cardiac arrest, unanticipated intensive care unit admission, and death

INTRODUCTION: Early warning scores (EWS) are recommended as part of the early recognition and response to patient deterioration. The Royal College of Physicians recommends the use of a National Early Warning Score (NEWS) for the routine clinical assessment of all adult patients. METHODS: We tested the ability of NEWS to discriminate patients at risk of cardiac arrest, unanticipated intensive care unit (ICU) admission or death within 24h of a NEWS value and compared its performance to that of 33 other EWSs currently in use, using the area under the receiver-operating characteristic (AUROC) curve and a large vital signs database (n=198,755 observation sets) collected from 35,585 consecutive, completed acute medical admissions. RESULTS: The AUROCs (95% CI) for NEWS for cardiac arrest, unanticipated ICU admission, death, and any of the outcomes, all within 24h, were 0.722 (0.685-0.759), 0.857 (0.847-0.868), 0.894 (0.887-0.902), and 0.873 (0.866-0.879), respectively. Similarly, the ranges of AUROCs (95% CI) for the other 33 EWSs were 0.611 (0.568-0.654) to 0.710 (0.675-0.745) (cardiac arrest); 0.570 (0.553-0.568) to 0.827 (0.814-0.840) (unanticipated ICU admission); 0.813 (0.802-0.824) to 0.858 (0.849-0.867) (death); and 0.736 (0.727-0.745) to 0.834 (0.826-0.842) (any outcome). CONCLUSIONS: NEWS has a greater ability to discriminate patients at risk of the combined outcome of cardiac arrest, unanticipated ICU admission or death within 24h of a NEWS value than 33 other EWSs

Rating the Financial Health of U.S. Production Agriculture using Synthetic Credit Rating

Agribusiness, Agricultural and Food Policy, Production Economics,

The Divisive Power of Humour: Comedy, Taste and Symbolic Boundaries

Using British and Dutch interview data, this article demonstrates how people from different social classes draw strong symbolic boundaries on the basis of comedy taste. Eschewing the omnivorousness described in recent studies of cultural consumption, comedy audiences make negative aesthetic and moral judgements on the basis of comedy taste, and often make harsh judgements without the disclaimers, apologies and ambivalence so typical of ‘taste talk’ in contemporary culture. The article demonstrates how, in particular, Dutch and British middle class audiences use their comedy taste to communicate distinction and cultural superiority. We discuss several reasons why such processes of social distancing exist in comedy taste and not other cultural areas: the traditionally low status of comedy; the strong relation between humour and personhood; the continuity between comedy tastes and humour styles in everyday life; as well as the specific position of comedy in the British and Dutch cultural fields