INSTITUTIONAL ECONOMICS AND THE EMERGENCE OF E-COMMERCE IN AGRIBUSINESS

The emergence of E-commerce in the 1990s heralded the arrival of the New Economy. However, the failure of numerous dotcoms since early 2001 has led to a debate regarding the future direction of E-commerce and its potential relevance for agribusiness. This study examines the economic implications of E-commerce for agribusiness within the framework of New Institutional Economics. The New Institutional Economics implies that E-commerce has the potential to reduce direct transactions costs in agricultural markets, but that it also may add additional indirect transactions costs. Depending upon the tradeoff between these costs, an institutional innovation which reduces the transactions costs may provide the impetus for an alternative marketing channel for agricultural output. Two models of institutional change are explored. The North model of changes in the rules of the game is found to be more consistent with the advent of E-commerce than the model of technological change suggested by Schumpeter.E-commerce, marketing channels, New Institutional Economics, Schumpeter, Agribusiness, Institutional and Behavioral Economics,

Community livestock auctions in Iowa

The first community livestock auction in Iowa appears to have been established in 1904. The number in operation increased moderately from 1912 to 1929, but more rapid development followed, reaching a peak in 1936 with 195 active auctions. Although the establishment of auctions was stimulated by low prices for livestock that prevailed during the depression, and by uneven distribution of feed in\u27 the state resulting from the drouths of 1934 and 1936, 25 auctions were being operated in 1929. Indications are that during the next \u27few years the number of auctions in operation will decline

The valuation of market information from livestock selling complexes

The efficient operation of livestock markets is contingent upon producers accessing relevant market information which assists adjustment to production and distribution. This article provides an analysis of the value of market information gleaned by producers attending public livestock auctions. The article uses the Travel Cost Method to quantify the value of this information and notes the limitations of applying the Travel Cost Method in this context.Agribusiness, Livestock Production/Industries,

Livestock Auctions in South Dakota

The description of the various facets of auctions is necessary in order for livestock entrepreneurs to envisage more clearly the conditions and practices which prevail around such markets. The objectives of this study were: to determine the source and disposition of livestock handled by the auctions and to determine the statistical schema of tariffs charged by the auctions

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

Marketing,

Collaborative supply chain initiatives as devices to cope with income variability in the Scottish red meat sector

The purpose of this paper is to discuss whether collaborative supply chain initiatives may help to provide income stability for farmers, focussing the analysis on the red meat supply chain in Scotland. Collaborative supply chains may contribute with two elements to attain higher income instability: first, greater demand stability and market access, and second, less variability in the price received for carcasses, as the produced output fits better the required specifications (i.e., no lost premia). The analysis of a survey applied to Scottish red meat producers showed that farmers that are part of a producers’ club do not differ from other farmers in their perception of marketing problems (e.g., price stability, etc.). However, in terms of their marketing aims, at least for beef producers, they seem to be more satisfied than farmers selling through auctions. An in-depth case study of a producers’ club in Scotland showed that farmers within the club are heterogeneous, not all of them taking advantage of the possibilities offered by the club in terms of improving the quality of their output and targeting better the required specifications, which creates potential to attain more stable incomeAgricultural and Food Policy, Farm Management, Food Security and Poverty, Livestock Production/Industries, Income instability, producers’ clubs, red meat sector, Scotland,

WCRO Spring 1992

Mountain rescue is a collecting success Legislative Lineup HSUS investigator discovers a bullfight in progress The past is repeated at area livestock auctions Director\u27s Comment (Char Drennon) Sebastian\u27s Club U.N.I.T.E. takes off in the regio

Livestock Auctions in South Dakota: An Economic Analysis

In the early stages of development of livestock auctions, transportation and production conditions largely limited the distance from which firms could procure livestock. As a result most auctions were too small to attain any significant degree of efficiency in operations. In recent years, the continual development and improvement in roads and truck transportation, along with the trend toward larger producers, have reduced the time and cost of transporting livestock. As a result, procurement areas for auction firms have increased. With larger supply areas, the potential volume of auction firms has increased. With this increase in volume should come greater operational efficiency and, ultimately, lower marketing charges and costs. Thus, the primary objective of this study was to examine the cost structure of the livestock auctions in South Dakota to determine if there is any relationship between cost, volume and marketing charges

Market Structure and Conduct of the North Dakota Livestock Marketing Industry

Industrial Organization, Marketing,