INTRA-PROCESSOR PRICE-SPREAD BEHAVIOR: IS THE U.S. CATFISH PROCESSING INDUSTRY COMPETITIVE?

An analysis was conducted of price-spread behavior in the catfish-processing sector of the United States. A model of imperfect competition using conjectural variations was used to test for significant deviations from competition. Results show no significant deviation from competitive behavior, suggesting that catfish processor behave competitively. However, this result is limited by the assumption of equal market shares by each catfish-processing firm.Agribusiness,

‘‘Defining’’ Our Future by ‘‘Defining’’ Ourselves

Teaching/Communication/Extension/Profession,

Darren Hudson

Teaching/Communication/Extension/Profession,

THE WORLD TRADE ORGANIZATION AND SOUTHERN AGRICULTURE: THE COTTON PERSPECTIVE

The World Trade Organization (WTO) negotiations could have important implications for Southern Agriculture. This paper explores some of the issues surrounding the WTO negotiations for cotton. Specifically, this paper examines the impacts of the phase-out of the Multi-Fiber Arrangement (MFA) on the location of textile production and cotton trade flows. Generally, it is believed that the WTO negotiations will have little direct impact on cotton, but will have indirect impacts through textile policy.cotton, WTO, trade, textiles, MFA, International Relations/Trade,

Appropriation and Transformation

The recent decision in Cariou v. Prince has reinvigorated a pressing issue for the contemporary movement of appropriation art: how can art which is defined by its taking from other artworks hope to survive in the world of copyright? In this article, I consider the legal history leading to the Cariou case, including a series of suits brought against appropriation artist Jeff Koons, as well as strategies proposed by several theorists for accommodating appropriation art within the law. Unfortunately, largely due to vagaries of the law and the misunderstood nature of appropriation art, the matter remains unresolved. I argue that, by investing borrowed material with new ideas, appropriation artists create new expressions and so transform their original sources. Being in line with the Constitutional mandate of copyright law, I suggest that such works of appropriation art be treated as presumptively fair uses

The Potential Viability of Biomass Ethanol as a Renewable Fuel

Much attention has been paid to alternative fuel sources of late. Ethanol has been a politically popular alternative fuel additive and has recently been pushed to the forefront as a leading replacement to MTBE as an oxygenate. This paper examines the potential markets for ethanol, including biomass ethanol, and discusses the strengths and weaknesses of different oxygenate products. We find that the market for ethanol is tenuous and dependent on government support at this time. Biomass ethanol is more expensive to produce, but does have the advantage of being able to be produced near petroleum refineries, thus reducing transport costs, compared to other sources of ethanol.biomass, ethanol

Factors Affecting Hedging Decisions Using Evidence from the Cotton Industry

Few farmers utilize futures and options markets to price their crops despite significant educational efforts. This study seeks to analyze producer hedging behavior within the framework of the overall marketing behavior. Producer marketing behavior is modeled as a simultaneous choice between cash sales, cooperative marketing and forward contracts, and hedging. A multinomial logit model is used for empirical estimation using data from a survey administered to a sample of cotton producers from across the U.S. The most important factors that explain the use of forward pricing by cotton producers are producer preferences, farm size, use of crop insurance, risk aversion, income from government payments and off-farm income. Risk aversion, off-farm income, crop insurance and some producer perceptions are important in the choice of the form of forward pricing (direct hedging vs. cooperative marketing and forward contracts).Crop Production/Industries, Marketing,

ADOPTION OF PRECISION AGRICULTURE TECHNOLOGY IN MISSISSIPPI

Precision application technology has been an important topic in agriculture in recent years. This technology has the promise to improve farm management through improved information and control over in-field variability of soil characteristics and productivity. Despite this apparent promise, recent studies have shown that adoption has been low. However, little is known about the adoption of this technology in Mississippi or the reasons for or against adoption as seen through the eyes of the producer. This survey was designed to collect basic information on producer perceptions about precision agriculture technology and to assess potential reasons for or against adoption.Production Economics,

POTENTIAL IMPLICATIONS OF PRODUCTION VARIABILITY ON AGRIBUSINESS: THE CASE OF COTTON GINNING IN MISSISSIPPI

Cotton ginning represents an agribusiness that is heavily dependent on production agriculture. Recent changes in farm legislation and other government policies may have a long run impact on the variability of cotton production. This paper examines the potential impacts of increased production variability on the cotton ginning industry in Mississippi. A programming model is used to derive the optimal structure of the ginning industry under certainty. Potential implications of production variability are discussed and extensions to the model are proposed.cotton, ginning, production variability, mathematical programming, Agribusiness,

A Two-Step Auction in the Presence of Negative Values: An Application to “Farm-Raised†Pre-Cooked Roast Beef

Uniform auctions are commonly used to elicit willingness to pay for new or novel products, product attributes, or non-market goods. However, most auctions or other contingent-valuation techniques do not allow for negative values, despite the fact that many consumers hold negative values for these products or product attributes. We conducted a WTP auction for a new product along with a within-sample WTA second auction allowing for negative responses. We find that failing to allow for negative values significantly inflates willingness to pay estimates and estimates of expected market share. This paper provides a method of incorporating negative values into auctions and willingness to pay elicitation.Consumer/Household Economics, Food Consumption/Nutrition/Food Safety,