Basis Convergence in Cattle Contracts Before and After Changes to Delivery Specifications

Livestock Production/Industries, Marketing,

EFFECT OF GENERIC ADVERTISING ON THE DEMAND FOR FLUID MILK: THE CASE OF THE TEXAS MARKET ORDER

This analysis indicates that generic advertising expenditures, ceteris paribus, generated rightward shifts in demand for fluid milk in the Texas Market Order over the period January 1980 to September 1988. Generally, the results from this study are in agreement with previous research efforts which suggest that generic advertising can increase the demand for fluid milk. Importantly, in this analysis, the impacts of television and radio advertising have been effectively disentangled. Television advertising generates a response that wears off more quickly than radio advertising. Also, the long-run effect of radio advertising is bout 1.75 times greater than the long-run effect of television advertising.Demand and Price Analysis, Marketing,

FOOD NUTRITIONAL QUALITY: A PILOT STUDY ON CONSUMER AWARENESS

Retail food demand studies are becoming increasingly concerned with the role of nutrition and health, yet consumer perceptions and attitudes are often ignored. The purpose of this pilot study is to determine consumer perceptions involving nutrition levels for selected foods. The influence of demographics and information about nutrition and health on perceptions toward meat items are determined. Results generally indicate that consumer perceptions toward fat and cholesterol levels in meats are based on the comparison of animal sources, not the comparison of individual cuts or preparation techniques. Recent efforts in the study of retail food demand have moved toward the role of nutrition and health. Several attempts have been made to measure the role that nutrition plays in food value or purchase habits (LaFrance (1983), Huffman (1988), Brown and Shrader (1990)). These studies use actual nutritional content of foods consumed to estimate demand impacts. However, it is possible that consumers perceive the nutritional elements of certain foods to be significantly different than actual levels. Differences between actual and perceived levels represent measurement error in these variables. Such errors may adversely affect the results of our demand studies. Consumer misperceptions may be an especially important issue when a utility maximization model such as Lancaster's Consumer Goods Characteristics Model (CGCM) is used. In such a model, the utility function arguments are the characteristics of the goods not the goods themselves. If consumers misperceive the nutritional value of food products, such models should include the perceived levels of nutrition, not the actual levels. The CGCM has been used extensively in recent years. In particular, CGCM was used by Ladd and Suvannant (1976) to test if food prices were a sum of the values of certain nutrients; by Adrian and Daniels (1976) to estimate nutrient demand based in part on demographic variables; by Morgan, Metzen, and Johnson (1979) to estimate hedonic prices for breakfast cereal characteristics; and by Terry, Brooker, and Eastwood (1986) to estimate the demand for nutrients. Each of these studies used actual nutrition levels. If, however, perceived nutrition levels are different than the actual levels, the results and conclusions may be affected. Results from these models vary widely. In the case of some nutrients, the implicit values can switch from significantly positive to significantly negative across models. Some of the variability may be associated with specification and differences in time periods. However, some variation may result from differences in perceptions which also change over time. Models which do not directly specify nutrient levels may fall prey to another problem. Work by Brown and Schrader (1990) and later by Capps and Schmitz (1990) utilize an index of nutritional awareness. Models of this nature allow for consumer perceptions to be included. However, when results of these models are reviewed, the results are compared to actual data, not perceptions. These results may be compared to the wrong benchmarks. Thus perceptions need to be considered, regardless of the approach used.Food Consumption/Nutrition/Food Safety,

IMPACT OF CHANGING CONSUMER PREFERENCES ON WILLINGNESS-TO-PAY FOR BEEF STEAKS

Consumer/Household Economics,

AN EXPERIMENTAL ECONOMICS APPROACH TO ANALYZING PRICE DISCOVERY IN FORWARD AND SPOT MARKETS

Laboratory experiments are used to generate data that facilitate investigation of pricing behavior in forward and spot markets. Results suggest a tendency for prices in a spot market to converge to levels higher than those in a forward market. The difference in these market environments is the supply schedule. Buyers in a spot market are aware that supply is inelastic and become relatively aggressive bidders. Forward markets have a relatively elastic supply schedule and buyers fare better. This may motivate firms to promote forward markets and/or vertically integrate in the procurement of inputs.Experimental economics, Forward market, Price discovery, Spot market, Marketing,

IMPACT OF CHANGING CONSUMER PREFERENCES ON WILLINGNESS-TO-PAY FOR BEEF STEAKS IN ALTERNATIVE RETAIL PACKAGING

The purpose of this study was to identify how consumer perceptions of selected attributes of beef steaks, individual consumer demographics and perceived changes in purchases of substitute meats affect willingness-to-pay for beef rib-eye steaks in the traditional overwrapped styrofoam tray and vacuum skin packages. A laboratory auction was used to obtain willingness-to-pay data. The results suggest that health related factors, particularly the concern regarding cholesterol, reduced the willingness-to-pay for beef rib-eye steaks, regardless of package type. For the vacuum skin package to be successful, information about the package is necessary, along with providing a consistent and quality product, particularly with respect to trim.Consumer/Household Economics,

CONCENTRATION ISSUES IN THE U.S. BEEF SUBSECTOR

Industrial Organization, Livestock Production/Industries,

A Complete Systems Analysis of Nutritional Awareness and Food Demand.

38 p

Precise U-Pb zircon ages and geochemistry of Jurassic granites, Ellsworth-Whitmore terrane, central Antarctica

The Ellsworth-Whitmore Mountain terrane of central Antarctica was part of the early Paleozoic amalgamation of Gondwana, including a 13,000 m section of Cambrian–Permian sediments in the Ellsworth Mountains deposited on Grenville-age crust. The Jurassic breakup of Gondwana involved a regional, bimodal magmatic event during which the Ellsworth-Whitmore terrane was intruded by intraplate granites before translation of the terrane to its present location in central Antarctica. Five widely separated granitic plutons in the Ellsworth-Whitmore terrane were analyzed for their whole-rock geochemistry (X-ray fluorescence), Sr, Nd, and Pb isotopic compositions, and U-Pb zircon ages to investigate the origins of the terrane magmas and their relationships to mafic magmatism of the 183 Ma Karoo-Ferrar large igneous province (LIP). We report high-precision (±0.1 m.y.) isotope dilution–thermal ionization mass spectrometry (ID-TIMS) U-Pb zircon ages from granitic rocks from the Whitmore Mountains (208.0 Ma), Nash Hills (177.4–177.3 Ma), Linck Nunatak (175.3 Ma), Pagano Nunatak (174.8 Ma), and the Pirrit Hills (174.3–173.9 Ma), and U-Pb sensitive high-resolution ion microprobe (SHRIMP) ages from the Whitmore Mountains (200 ± 5 Ma), Linck Nunatak (180 ± 4 Ma), Pagano Nunatak (174 ± 4 Ma), and the Pirrit Hills (168 ± 4 Ma). We then compared these results with existing K-Ar ages and Nd model ages, and used initial Sr, Nd, and Pb isotope ratios, combined with xenocrystic zircon U-Pb inheritance, to infer characteristics of the source(s) of the parent magmas. We conclude that the Jurassic plutons were not derived exclusively from crustal melts, but rather they are hybridized magmas composed of convecting mantle, subcontinental lithospheric mantle, and lower continental crustal contributions. The mantle contributions to the granites share isotopic similarities to the sources of other Jurassic LIP mafic magmas, including radiogenic 87Sr/86Sr (0.706–0.708), unradiogenic 143Nd/144Nd (εNd < –5), and Pb isotopes consistent with a low-µ source (where μ = 238U/204Pb). Isotopes and zircon xenocrysts point toward a crustal end member of predominantly Proterozoic provenance (0.5–1.0 Ga; Grenville crust), extending the trends illustrated by Ferrar mafic intrusive rocks, but contrasting with the inferred Archean crustal and/or lithospheric mantle contributions to some basalts of the Karoo sector of the LIP. The Ellsworth-Whitmore terrane granites are the result of mafic rocks underplating the hydrous crust, causing crustal melting, hybridization, and fractionation to produce granitic magmas that were eventually emplaced as post-Ferrar, within-plate melts at higher crustal levels as the Ellsworth-Whitmore terrane rifted off Gondwana (47°S) before migrating to its current position (82°S) in central Antarctica

Accelerating antiviral drug discovery: lessons from COVID-19

During the coronavirus disease 2019 (COVID-19) pandemic, a wave of rapid and collaborative drug discovery efforts took place in academia and industry, culminating in several therapeutics being discovered, approved and deployed in a 2-year time frame. This article summarizes the collective experience of several pharmaceutical companies and academic collaborations that were active in severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) antiviral discovery. We outline our opinions and experiences on key stages in the small-molecule drug discovery process: target selection, medicinal chemistry, antiviral assays, animal efficacy and attempts to pre-empt resistance. We propose strategies that could accelerate future efforts and argue that a key bottleneck is the lack of quality chemical probes around understudied viral targets, which would serve as a starting point for drug discovery. Considering the small size of the viral proteome, comprehensively building an arsenal of probes for proteins in viruses of pandemic concern is a worthwhile and tractable challenge for the community