{"title":"AAE volume 53 issue 4 Cover and Back matter","authors":"","doi":"10.1017/aae.2021.31","DOIUrl":"https://doi.org/10.1017/aae.2021.31","url":null,"abstract":"","PeriodicalId":14970,"journal":{"name":"Journal of Agricultural and Applied Economics","volume":" ","pages":"b1 - b1"},"PeriodicalIF":1.9,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47827723","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"AAE volume 53 issue 4 Cover and Front matter","authors":"","doi":"10.1017/aae.2021.30","DOIUrl":"https://doi.org/10.1017/aae.2021.30","url":null,"abstract":"","PeriodicalId":14970,"journal":{"name":"Journal of Agricultural and Applied Economics","volume":" ","pages":"f1 - f3"},"PeriodicalIF":1.9,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45450620","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract A hedonic model was employed to examine factors impacting feeder cattle prices at a monthly video auction in Tennessee. Home-raised cattle were estimated to have a $2 per cwt. premium and cattle that have been tested for PI-BVDV (persistent infections with bovine viral diarrhea virus) sold for a premium of $1.19 per cwt. We also show how price varies across sale months for steers and heifers, suggesting opportune times to market gender-specific lots. Corn price was interacted with an average weight per head of the lot to show that lighter cattle were negatively affected, while heavier cattle prices were positively affected by increasing corn prices.
{"title":"Price Determinants for Feeder Cattle in Tennessee","authors":"Charles C. Martinez, C. Boyer, Kenneth H. Burdine","doi":"10.1017/aae.2021.24","DOIUrl":"https://doi.org/10.1017/aae.2021.24","url":null,"abstract":"Abstract A hedonic model was employed to examine factors impacting feeder cattle prices at a monthly video auction in Tennessee. Home-raised cattle were estimated to have a $2 per cwt. premium and cattle that have been tested for PI-BVDV (persistent infections with bovine viral diarrhea virus) sold for a premium of $1.19 per cwt. We also show how price varies across sale months for steers and heifers, suggesting opportune times to market gender-specific lots. Corn price was interacted with an average weight per head of the lot to show that lighter cattle were negatively affected, while heavier cattle prices were positively affected by increasing corn prices.","PeriodicalId":14970,"journal":{"name":"Journal of Agricultural and Applied Economics","volume":"53 1","pages":"552 - 562"},"PeriodicalIF":1.9,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43331543","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract We used choice experiment data collected from 542 farmers in Nigeria to assess smallholders’ preferences for shifting to Climate-Smart Agriculture (CSA). Results suggest that the higher the size of the incentive, the more the likelihood of farmers’ willingness to invest in CSA schemes. Similarly, the farmers were in favor of community development associations and non-governmental organizations-managed schemes over other project managements and also prefer government-based institutions as opposed to the private sector. Willingness to accept results suggest that an average farmer is willing to accept $540/ha/year and $386/ha/year to embrace good agricultural practices (GAPs) with and without manure application.
{"title":"Willingness to Accept Incentives for a Shift to Climate-Smart Agriculture among Smallholder Farmers in Nigeria","authors":"A. Shittu, M. Kehinde, A. Adeyonu, O. T. Ojo","doi":"10.1017/aae.2021.19","DOIUrl":"https://doi.org/10.1017/aae.2021.19","url":null,"abstract":"Abstract We used choice experiment data collected from 542 farmers in Nigeria to assess smallholders’ preferences for shifting to Climate-Smart Agriculture (CSA). Results suggest that the higher the size of the incentive, the more the likelihood of farmers’ willingness to invest in CSA schemes. Similarly, the farmers were in favor of community development associations and non-governmental organizations-managed schemes over other project managements and also prefer government-based institutions as opposed to the private sector. Willingness to accept results suggest that an average farmer is willing to accept $540/ha/year and $386/ha/year to embrace good agricultural practices (GAPs) with and without manure application.","PeriodicalId":14970,"journal":{"name":"Journal of Agricultural and Applied Economics","volume":"53 1","pages":"531 - 551"},"PeriodicalIF":1.9,"publicationDate":"2021-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41929804","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Sweta Tiwari, Keith H. Coble, B. Barnett, Ardian Harri
Crop revenue insurance is unique, because it involves a guarantee subsuming yield risk and highly systematic price risk. This study examines whether crop insurers could use options instead of, or in addition to, assigning policies to the Commercial Funds of the USDA Federal Crop Insurance Corporation (FCIC) as per the Standard Reinsurance Agreement (SRA) to hedge the price risk of revenue insurance policies. The behavioral model examines the optimal hedge ratio for a crop insurer with a book of business consisting of corn Revenue Protection (RP) policies. Results show that a mix of put and call options can hedge the price risk of the RP policies. The higher optimal hedge ratios of call options as compared to put options imply that the risk of increased liability due to upside price risk can be hedged using options better than downside price risk. This study also analyzed the combination of options with the SRA at 35, 50, and 75% retention levels. The zero optimal hedge ratios at each retention level and the negative correlation between RP indemnities and the option returns when the crop insurer mixed options and SRA suggest that the purchasing of options provides no additional risk protection to crop insurers beyond what is provided by the SRA despite retention limits.
{"title":"Hedging the Price Risk Inherent in Revenue Protection Insurance","authors":"Sweta Tiwari, Keith H. Coble, B. Barnett, Ardian Harri","doi":"10.1017/aae.2021.20","DOIUrl":"https://doi.org/10.1017/aae.2021.20","url":null,"abstract":"\u0000 Crop revenue insurance is unique, because it involves a guarantee subsuming yield risk and highly systematic price risk. This study examines whether crop insurers could use options instead of, or in addition to, assigning policies to the Commercial Funds of the USDA Federal Crop Insurance Corporation (FCIC) as per the Standard Reinsurance Agreement (SRA) to hedge the price risk of revenue insurance policies. The behavioral model examines the optimal hedge ratio for a crop insurer with a book of business consisting of corn Revenue Protection (RP) policies. Results show that a mix of put and call options can hedge the price risk of the RP policies. The higher optimal hedge ratios of call options as compared to put options imply that the risk of increased liability due to upside price risk can be hedged using options better than downside price risk. This study also analyzed the combination of options with the SRA at 35, 50, and 75% retention levels. The zero optimal hedge ratios at each retention level and the negative correlation between RP indemnities and the option returns when the crop insurer mixed options and SRA suggest that the purchasing of options provides no additional risk protection to crop insurers beyond what is provided by the SRA despite retention limits.","PeriodicalId":14970,"journal":{"name":"Journal of Agricultural and Applied Economics","volume":"53 1","pages":"510 - 530"},"PeriodicalIF":1.9,"publicationDate":"2021-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48354764","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract This study aims to assess the market potential for organically farmed shrimp. The rank-ordered logit model was employed to investigate consumer perceptions; the findings reveal that consumers prefer organic shrimp from mariculture, and inland-farmed shrimp to the coastal version. The willingness to pay (WTP) for conventional shrimp amongst consumers with low knowledge is less than that for organic shrimp amongst highly knowledgeable ones. In addition, the lower WTP for organic shrimp compared with safe shrimp amongst those with a medium knowledge level shows that the organically farmed shrimp market is lagging behind due to limited knowledge and confusion.
{"title":"Consumers’ Willingness to Pay (WTP) for Organically Farmed Fish in Bangladesh","authors":"M. Z. Hoque, Nazmoon Akhter, Zinatul Mawa","doi":"10.1017/aae.2021.12","DOIUrl":"https://doi.org/10.1017/aae.2021.12","url":null,"abstract":"Abstract This study aims to assess the market potential for organically farmed shrimp. The rank-ordered logit model was employed to investigate consumer perceptions; the findings reveal that consumers prefer organic shrimp from mariculture, and inland-farmed shrimp to the coastal version. The willingness to pay (WTP) for conventional shrimp amongst consumers with low knowledge is less than that for organic shrimp amongst highly knowledgeable ones. In addition, the lower WTP for organic shrimp compared with safe shrimp amongst those with a medium knowledge level shows that the organically farmed shrimp market is lagging behind due to limited knowledge and confusion.","PeriodicalId":14970,"journal":{"name":"Journal of Agricultural and Applied Economics","volume":"70 1","pages":"482 - 509"},"PeriodicalIF":1.9,"publicationDate":"2021-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"56936124","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Pesticide handling is a critical component of many food supply chains yet labor markets for pesticide handlers are little studied. This study uses data from the U.S. national survey to show that relative to other farmworkers, pesticide handlers get paid 15% more. To understand this premium, matching techniques are used to identify workers who are observationally equivalent in every way except pesticide handling. Using these methods, approximately half of the wage premium can be related back to observable characteristics, including crop type, geographic location, legal work authorization, education, experience, and other personal characteristics.
{"title":"An Analysis of Pesticide Handler Wages in the United States","authors":"An Li, J. Reimer","doi":"10.1017/aae.2021.16","DOIUrl":"https://doi.org/10.1017/aae.2021.16","url":null,"abstract":"Abstract Pesticide handling is a critical component of many food supply chains yet labor markets for pesticide handlers are little studied. This study uses data from the U.S. national survey to show that relative to other farmworkers, pesticide handlers get paid 15% more. To understand this premium, matching techniques are used to identify workers who are observationally equivalent in every way except pesticide handling. Using these methods, approximately half of the wage premium can be related back to observable characteristics, including crop type, geographic location, legal work authorization, education, experience, and other personal characteristics.","PeriodicalId":14970,"journal":{"name":"Journal of Agricultural and Applied Economics","volume":"53 1","pages":"375 - 388"},"PeriodicalIF":1.9,"publicationDate":"2021-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43598864","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Taylor Wiseman, Jeff Luckstead, Alvaro Durand‐Morat
Abstract Asian countries consume approximately 90% of the world’s rice supply. Between 2007 and 2014, Thailand, Vietnam, and India accounted for 60% of the world’s exports of rice. A nonlinear autoregressive distributed lag (NARDL) econometric model is utilized to estimate the impact of exchange rate fluctuations on rice trade in Southeast Asia. Focusing on the largest importing countries and exporting country by volume, the analysis considers Malaysian, Indonesian, the Philippines, and Chinese rice imports from Thailand. Results show that importing countries’ state trading enterprises (STEs) generally do not follow profit-maximizing behavior in reacting to exchange rate volatility.
{"title":"Asymmetric Exchange Rate Pass-Through in Southeast Asian Rice Trade","authors":"Taylor Wiseman, Jeff Luckstead, Alvaro Durand‐Morat","doi":"10.1017/aae.2021.7","DOIUrl":"https://doi.org/10.1017/aae.2021.7","url":null,"abstract":"Abstract Asian countries consume approximately 90% of the world’s rice supply. Between 2007 and 2014, Thailand, Vietnam, and India accounted for 60% of the world’s exports of rice. A nonlinear autoregressive distributed lag (NARDL) econometric model is utilized to estimate the impact of exchange rate fluctuations on rice trade in Southeast Asia. Focusing on the largest importing countries and exporting country by volume, the analysis considers Malaysian, Indonesian, the Philippines, and Chinese rice imports from Thailand. Results show that importing countries’ state trading enterprises (STEs) generally do not follow profit-maximizing behavior in reacting to exchange rate volatility.","PeriodicalId":14970,"journal":{"name":"Journal of Agricultural and Applied Economics","volume":"53 1","pages":"341 - 374"},"PeriodicalIF":1.9,"publicationDate":"2021-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1017/aae.2021.7","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41520164","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"AAE volume 53 issue 3 Cover and Back matter","authors":"","doi":"10.1017/aae.2021.22","DOIUrl":"https://doi.org/10.1017/aae.2021.22","url":null,"abstract":"","PeriodicalId":14970,"journal":{"name":"Journal of Agricultural and Applied Economics","volume":" ","pages":"b1 - b1"},"PeriodicalIF":1.9,"publicationDate":"2021-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47366547","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"AAE volume 53 issue 3 Cover and Front matter","authors":"","doi":"10.1017/aae.2021.21","DOIUrl":"https://doi.org/10.1017/aae.2021.21","url":null,"abstract":"","PeriodicalId":14970,"journal":{"name":"Journal of Agricultural and Applied Economics","volume":" ","pages":"f1 - f3"},"PeriodicalIF":1.9,"publicationDate":"2021-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45741577","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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