AN ECONOMETRIC ANALYSIS OF THE BEEF-FEED GRAIN ECONOMY

Production Economics,

WELFARE IMPLICATIONS OF THE WOOL ACT

A model of the U.S. sheep industry is estimated and simulated to determine the impact of the wool incentive program on actors in U.S. sheep product markets. The simulation analysis indicates that U.S. sheep producers and lamb and wool consumers are the programÂ’s gainers while lamb and wool exporters and taxpayers are its losers. Net societal losses averaged $26.4 million per year during the 1980-85 period, considering U.S. as well as exporter interests. This loss is about 2.5% of average U.S. consumer expenditures on lamb and wool over the period.Agricultural and Food Policy, Livestock Production/Industries,

REVEALED COMPARATIVE ADVANTAGE AND THE MEASUREMENT OF INTERNATIONAL COMPETITIVENESS FOR AGRICULTURAL COMMODITIES: AN EMPIRICAL ANALYSIS OF WOOL EXPORTERS

Trade liberalization and laissez-faire economics are altering the structure of agricultural production and trade. The principle of comparative advantage, a classic tenet of economics, is a useful tool for understanding the future of world agriculture. This study employs a "Revealed Comparative Advantage" approach to investigate patterns of comparative advantage among six major wool exporting countries.International Relations/Trade,

The Evolving Agricultural Marketplace: Selected Results and Implications for the West from the Laboratory

Marketing,

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

Consumer/Household Economics,

BILATERAL TRADING AND THE CURSE OF KNOWLEDGE: AN EXPERIMENTAL ECONOMICS STUDY

This research investigates the impact of reporting different kinds of trade information to buyers and sellers in laboratory markets, for which exchange is made through bilateral bargaining. Results suggest that public information may improve the bargaining position of buyers relative to sellers when there is spot delivery. In some cases sellers earn less than in a no information baseline. There is evidence of a curse of knowledge for sellers in our information experiments when quantity traded for the entire market is known. The mandatory price reporting of all trades does not improve the income of sellers.International Relations/Trade,

ALTERNATIVE PARAMETER SPECIFICATION IN E, V ANALYSIS: IMPLICATIONS FOR FARM LEVEL DECISION MAKING

This study compares the structure of E, V frontiers under several specifications of expected income and variance parameters with emphasis on fundamental differences in efficient crop mixes. The results are generated using data from a specific production region and a selected set of cropping activities for Wyoming. The risk-efficient frontiers and underlying crop mixes display sensitivity to alternative parameter definitions and suggest that if researchers intend to use the E, V approach in providing decision information to producers, care should be exercised in the choice of income and risk measures.Farm Management,

THE EFFECTS OF INDUSTRY STRUCTURE ON PRICE: A CASE IN THE BEEF INDUSTRY

This study estimates the influence of concentration and other structural variables on the price of slaughter cattle. Cross-sectional data were used to estimate a single equation model which included, in addition to traditional factor demand variables, packer concentration and a measure of market power exerted by feedlots. Results suggest that packer concentration has had a significant and increasing negative impact on fed cattle prices during the years of analysis, 1972 and 1977.Industrial Organization, Livestock Production/Industries,