PREDICTING FEEDING COST OF GAIN WITH MORE PRECISION

Costs during the feeding period, commonly summarized as "feeding cost of gain", are primary determinants of cattle feeding profits. This study provides a method of generalizing information available at placement time into a suitable feeding cost of gain prediction, so that feeders and ranchers can make more informed placement decisions.Cattle-Feeding, Feeding-Cost-Of-Gain, Industrial Organization, Livestock Production/Industries,

The Allocation and Dissipation of Resource Rents: Implications for Fishery Reform

In the move to adopt rights based arrangements for renewable resources to avoid the losses of open access and the inefficiencies of prescriptive regulation, we argue that grandfathering the allotments of local users can be the most efficient distribution mechanism. We differ from the standard support among economists for auctions which contends that auctions allocate rights to the highest valued users and thereby maximize rents. Our contention is that rents are not a fixed stock as is commonly assumed, but rather depend upon the actions of those who use the natural resource and convert it into valuable goods and services. First-possession allocation assigns ownership and rents to existing users, reinforcing their incentives for stewardship and rent maximization. Resource rents are an important source of wealth and well being, especially in developing countries. By contrast the alternative, auction allocation, assigns ownership to winning bidders, but the rents are captured by the auctioneer, often the state, not local agents. We argue that there can be important efficiency effects. Our empirical focus is on fisheries, but the implications extend to other settings.

THE ESTIMATION OF A SHADOW EQUILIBRIUM EXCHANGE RATE: A DIRECT METHOD

Financial Economics,

Minimizing the Potential for Groundwater Contamination from Agricultural Point Sources

An activated charcoal filtration unit was designed to remove pesticides from leftover pesticide solutions and rinsates generated under farm-like conditions. The system, fabricated for less than $1400 using readily available components, effectively removed the pesticides atrazine, benomyl, carbaryl, fluometuron, metolachlor, and trifluralin from wastewater generated on the University of Arkansas Agronomy Farm located in Fayetteville, AR. A total of 2253 L of wastewater were treated using the system. Of these 1768 L were generated from washing out the spray tank (rinsates) while 485 L stemmed from leftover pesticide solutions that were mixed, but not applied. Typical initial pesticide concentrations in the wastewater were on the order of 500 to 1000 parts per million (ppm). The final pesticide concentrations remaining after charcoal filtration were generally less than 10 ppm. Approximately 1514 L of wastewater was treated with 23 kg of charcoal before the charcoal was replaced. This resulted in an estimated pesticide loading rate on the charcoal of 0.05 to 0.10 kg pesticide active ingredient per kg activated charcoal. Incubation of alachlor-treated charcoal with a mixed culture of microorganisms resulted in approximately a 30% loss of alachlor after 21 d. These results suggest that on-site degradation of spent charcoal may be a feasible alternative to incineration, however more research is needed to fully determine its potential. A reduced adsorption of methylene blue dye with increasing amounts of trifluralin sorbed to charcoal occurred. Activated charcoal treated with 222 mg/g trifluralin sorbed only 19% of the amount sorbed by the control with no trifluralin present. These results suggest that methylene blue or other dyes might be used to indicate the remaining adsorptive capacity of a charcoal used for removing pesticides from wastewater

Copolyimide with a combination of flexibilizing groups

Copolyimides are prepared by reacting one or more aromatic dianhydrides with a meta-substituted phenylene diamine and an aromatic bridged diamine. The incorporation of meta-substituted phenylene diamine derived units and bridged aromatice diamine derived units into the linear aromatic polymer backbone results in a copolyimide of improved flexibility, processability, and melt-flow characteristics. The copolyimides are especially useful as thermoplastic hot-melt adhesives

THE COST OF INACCURATE AUTOMOBILE MILEAGE INFORMATION

The model in this paper integrates the possibility of misinformation into consumer utility theory. If the utility realized from a good differs from the utility anticipated at time of purchase, shifts in demand would occur, and thus changes in consumer surplus. These changes provide a measure of the cost of misinformation or value of improved information. The empirical analysis yields estimates of the private and social cost of inaccuracies in automobile buyers; pre-purchase mileage estimates. If automobile purchases are based on imperfect gasoline mileage information, a discrepancy results between expected and actual fuel-efficiency. The data source is a survey of 1980 model car buyers conducted by the authors.Consumer/Household Economics,

THE COST OF INACCURATE CONSUMER INFORMATION: THE CASE OF THE EPA MILEAGE FIGURES

In this study a utility maximizing model is developed which accommodates changing states of information. Rational consumer choices in one state of information can lead to realizing different levels of utility than anticipated. Differences between these levels of utility suggest a measure for the value of information. This framework is applied to estimating the potential cost of possible inaccuracies in the EPA fuel-economy ratings. Survey data collected from new car buyers then are used to infer the magnitude of the actual costs that may be caused by the present EPA information.Consumer/Household Economics,

PAYOFFS TO FARM MANAGEMENT: HOW IMPORTANT IS CROP MARKETING?

In production agriculture, good management is demonstrated by profits that are persistenly greater than those of similar neighboring farms. This research examined the effects of management practices on risk-adjusted profit per acre for Kansas farms over 1990-1999. The management practices were price, cost, yield, planting intensity, and technology adoption (less-tillage). Cost management, planting intensity, and technology adoption had the greatest effect on profit per acre, and cash price management was found to have the smallest impact. If producers wish to have continuously high profits, their efforts are best spent in management practices over which they have the most control.farm management, marketing, risk, technology adoption, Farm Management, Marketing,

USING SATELLITE IMAGERY IN KANSAS CROP YIELD AND NET FARM INCOME FORECASTS

Remotely sensed data have been used in the past to predict crop yields. This research attempts to incorporate remotely sensed data into a net farm income projection model. Using in-sample regressions, satellite imagery appears to increase prediction accuracy in the time periods prior to USDA's first crop production estimate for wheat and corn. Remotely sensed data improved model performance more in the western regions of the state than in the eastern regions. However, in a jackknife out-of-sample framework, the satellite imagery appeared to statistically improve only 8 of the 81 models (9 crop reporting districts by 9 forecasting horizons) estimated. Moreover, 41 of the 81 models were statistically better without the satellite imagery data. This indicates that perhaps the functional form of net farm income has not been well-specified since additional information should generally not cause a model to deteriorate.net farm income, remote sensing, satellite imagery, Crop Production/Industries,

Payload Operations Control Center (POCC)

The Spacelab payload operations control center (POCC) timeline analysis program which is used to provide POCC activity and resource information as a function of mission time is described. This program is fully automated and interactive, and is equipped with tutorial displays. The tutorial displays are sufficiently detailed for use by a program analyst having no computer experience. The POCC timeline analysis program is designed to operate on the VAX/VMS version V2.1 computer system