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Australian Journal of Agricultural and Resource Economics最新文献

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Do China's Agricultural Futures Overreact to U.S. Futures Markets Returns? Evidence From Soybean and Corn Futures 中国农产品期货是否对美国期货市场的回报反应过度?大豆和玉米期货的证据
IF 2.6 3区 经济学 Q2 AGRICULTURAL ECONOMICS & POLICY Pub Date : 2025-02-03 DOI: 10.1111/1467-8489.12616
Tao Xiong, Wenshu Lv, Guangcheng Fang, Weiyi Xia

This study investigates the characteristics of traders' overreaction behaviour in China's soybean and corn futures markets to the overnight performance of U.S. futures markets and examines the impacts of the night trading policy on such overreaction behaviour. Our results reveal that traders in China generally overreact to U.S. markets' performance, but the overreaction diminishes when traders have enough time to calm their emotions. We also find that the introduction of night trading implemented by China's futures exchanges significantly reduces daytime overreaction because the extension of trading hours ensures that unexpected information is promptly reflected during night trading sessions. The proposed trading strategy of exploiting the overreaction generates considerable profits. However, it has not worked since the introduction of night trading, which further confirms the policy effect of night trading. Our study provides valuable guidance for futures exchanges seeking to monitor overreaction behaviour and formulate policies to target such behaviour.

本研究考察了中国大豆和玉米期货市场交易者对美国期货市场隔夜表现的过度反应行为特征,并考察了夜间交易政策对这种过度反应行为的影响。我们的研究结果显示,中国的交易员普遍对美国市场的表现反应过度,但当交易员有足够的时间来平息他们的情绪时,过度反应就会减弱。我们还发现,中国期货交易所引入的夜间交易显著减少了白天的过度反应,因为交易时间的延长确保了意外信息在夜间交易时段得到及时反映。所提出的利用过度反应的交易策略产生了可观的利润。然而,自夜间交易推出以来,它并没有奏效,这进一步证实了夜间交易的政策效果。我们的研究为寻求监控过度反应行为和制定针对此类行为的政策的期货交易所提供了有价值的指导。
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引用次数: 0
A re-examination of the relationship between plot size and productivity: The case of Bangladesh 重新审视地块面积与生产率之间的关系:孟加拉国的案例
IF 2.6 3区 经济学 Q2 AGRICULTURAL ECONOMICS & POLICY Pub Date : 2025-01-31 DOI: 10.1111/1467-8489.12613
Mohammad Raied Arman, Narayan Das, Rafia Nisat, Atiya Rahman

Recent evidence shows that the inverse relationship between plot size and productivity is driven by an edge effect or by the over-reporting of production by farmers on smaller plots. In this paper, we re-examine the relationship between plot size and productivity in the context of Bangladesh. We also examine whether the effect of plot size is different across rice and non-rice crops. We use panel data at the household level and estimate a fixed effects model. Results show that the effect of plot size on productivity is positive but not statistically significant. Further results show that there is no statistically significant effect of plot size on productivity for both rice and non-rice crops. Our findings suggest that land redistribution, even if it leads to smaller plots, will not decrease farm production.

最近的证据表明,地块面积与生产率之间的反比关系是由边缘效应或小地块农民多报产量造成的。在本文中,我们以孟加拉国为背景,重新审视了地块面积与生产率之间的关系。我们还研究了地块大小对水稻和非水稻作物的影响是否不同。我们使用了家庭层面的面板数据,并对固定效应模型进行了估计。结果显示,地块面积对生产率的影响是积极的,但在统计上并不显著。进一步的结果表明,对于水稻和非水稻作物而言,地块面积对生产率的影响在统计上并不显著。我们的研究结果表明,土地再分配即使导致地块变小,也不会降低农业产量。
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引用次数: 0
2019 AARES distinguished fellow 2019年AARES杰出院士
IF 2.6 3区 经济学 Q2 AGRICULTURAL ECONOMICS & POLICY Pub Date : 2025-01-17 DOI: 10.1111/1467-8489.12608
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引用次数: 0
2019 AARES distinguished fellow 2019年AARES杰出院士
IF 2.6 3区 经济学 Q2 AGRICULTURAL ECONOMICS & POLICY Pub Date : 2025-01-17 DOI: 10.1111/1467-8489.12607
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引用次数: 0
2019 AARES distinguished fellow 2019年AARES杰出院士
IF 2.6 3区 经济学 Q2 AGRICULTURAL ECONOMICS & POLICY Pub Date : 2025-01-17 DOI: 10.1111/1467-8489.12609
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引用次数: 0
Stuart Harris (1931–2024) 斯图尔特·哈里斯(1931-2024)
IF 2.6 3区 经济学 Q2 AGRICULTURAL ECONOMICS & POLICY Pub Date : 2025-01-17 DOI: 10.1111/1467-8489.12604
Michael Harris
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引用次数: 0
Price premiums for geographical indication under the coexistence of self-claims and certification 自我主张与认证并存的地理标志价格溢价
IF 2.6 3区 经济学 Q2 AGRICULTURAL ECONOMICS & POLICY Pub Date : 2025-01-16 DOI: 10.1111/1467-8489.12612
Meng Wang, Jihong Ge, Xuesen Fan, Wuyang Hu

As the popularity of geographical indication (GI) grows in developing countries, the coexistence of GI self-claims and certification has become widespread. This study focusses on the Chinese rice market and explores the market performance of GI self-claims and certification. The findings indicate that while GI self-claims can generate price premiums, these are lower than those generated by GI certification. In the mid-to-high-end rice market, GI self-claims barely succeed to generate any price premium, whereas GI certification maintains its competitiveness. Notably, there is heterogeneity in the price premiums of different types of GI self-claims and certification. On the one hand, only indirect self-claims, which utilise origin information denoted by a GI label, can generate a price premium. On the other hand, GI certification promoted in earlier years or with more stringent certification standards generates higher price premiums. There is no clear evidence suggesting that a higher number of GI certificates corresponds to higher price premiums.

随着地理标志(GI)在发展中国家的普及,地理标志自我声明与认证并存的现象越来越普遍。本研究以中国大米市场为研究对象,探讨地理标志自我声明和认证的市场表现。研究结果表明,虽然地理标志自我声明可以产生价格溢价,但这些溢价低于地理标志认证产生的溢价。在中高档大米市场上,“GI自荐”几乎无法产生价格溢价,而“GI认证”则保持着竞争力。值得注意的是,不同类型的地理标志自我声明和认证的价格溢价存在异质性。一方面,只有利用地理标志所表示的原产地信息的间接自我声明才能产生价格溢价。另一方面,较早推广或认证标准较严格的地理标志认证则会产生较高的价格溢价。没有明确的证据表明地理标志证书的数量越多,相应的价格溢价就越高。
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引用次数: 0
Promoting the adoption of environmentally friendly agricultural practices: The role of crop insurance participation 促进采用环境友好型农业做法:作物保险参与的作用
IF 2.6 3区 经济学 Q2 AGRICULTURAL ECONOMICS & POLICY Pub Date : 2024-12-10 DOI: 10.1111/1467-8489.12603
Min Su, Shuyi Feng, Ziming Liu

This study investigates the impact of crop insurance participation on farmers' adoption of environmentally friendly agricultural practices using microsurvey data from the China Land Economic Survey 2020. Propensity score matching and an endogenous switching probit model are applied to address potential selection bias. We find that crop insurance participation has significant and positive effects on farmers' adoption of straw return and biological pesticides. Specifically, it increases the probability of adopting straw return and biological pesticides by 45.6% and 46.3%, respectively. These impacts are particularly large for younger, larger scale and more risk-averse farmers. Our results highlight the necessity of supporting crop insurance participation to encourage desirable environmental outcomes. We also discuss potential policies to facilitate crop insurance uptake in rural China.

本研究利用《2020年中国土地经济调查》的微观调查数据,考察了作物保险参与对农民采用环境友好型农业实践的影响。采用倾向评分匹配和内生性切换概率模型来解决潜在的选择偏差。研究发现,作物保险参与对秸秆还田和生物农药的使用具有显著的正向影响。其中秸秆还田和生物农药采用概率分别提高45.6%和46.3%。这些影响对更年轻、规模更大、更不愿冒险的农民尤其严重。我们的研究结果强调了支持作物保险参与的必要性,以鼓励理想的环境结果。我们还讨论了促进中国农村作物保险吸收的潜在政策。
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引用次数: 0
Individual preferences for food items within couples: Validating choice experiments predictions with real purchases data 夫妻对食物的个人偏好:用真实购买数据验证选择实验预测
IF 2.6 3区 经济学 Q2 AGRICULTURAL ECONOMICS & POLICY Pub Date : 2024-11-29 DOI: 10.1111/1467-8489.12600
Cristiano Franceschinis, Riccardo Scarpa, Mara Thiene, Roselinde Kessels

Despite the popularity of choice experiments (CEs) for the valuation of environmental goods and services, some of its shortcomings have been only partially addressed by the literature. Among these, of particular saliency are the hypothetical nature of CEs and the lack of information on joint choices (e.g. choices made by couples) in traditional CEs. In this study, we contribute to filling these gaps by investigating joint choices concerning cheeses produced via different processes, involving environmental and social sustainability features. We use a two-stage preference elicitation approach, using first stated and then real consumption choices collected from a sample of 90 couples. In the first stage, each member of the couples separately took part in a web survey with a hypothetical CE. In the second, these couples jointly engaged in a field experiment with monetary incentives in which they jointly chose the cheeses to purchase. This approach allows us to evaluate the role of individual preferences in shaping joint choices and to investigate whether predictions from stated choice data are congruent with, and validated by, real purchase data. We use CE data to estimate individual preferences with discrete choice models and use joint purchase data via the Multiple Discrete-Continuous Nested Extreme Value model. Results suggest that joint real choices follow a substantively different decision process from that of individual stated choices.

尽管选择实验(CEs)对环境商品和服务的估值很受欢迎,但它的一些缺点只是部分地被文献所解决。其中,特别突出的是传统消费决策的假设性质和缺乏关于共同选择(如夫妻做出的选择)的信息。在这项研究中,我们通过调查不同工艺生产的奶酪的联合选择,包括环境和社会可持续性特征,来填补这些空白。我们使用两阶段的偏好启发方法,首先使用从90对夫妇的样本中收集的陈述,然后使用真实的消费选择。在第一阶段,夫妻中的每一个成员分别参加了一个假设CE的网络调查。在第二项实验中,这些夫妇共同参与了一项有金钱奖励的实地实验,他们共同选择要购买的奶酪。这种方法使我们能够评估个人偏好在形成共同选择中的作用,并调查从陈述的选择数据中得出的预测是否与实际购买数据一致,并得到实际购买数据的验证。我们使用CE数据通过离散选择模型估计个人偏好,并通过多重离散连续嵌套极值模型使用联合购买数据。结果表明,联合实际选择遵循一个实质上不同的决策过程,从个人陈述的选择。
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引用次数: 0
Does carbon labelling encourage the consumption of low-emission meat products? Evidence from China 碳标签是否鼓励消费低排放肉制品?来自中国的证据
IF 2.6 3区 经济学 Q2 AGRICULTURAL ECONOMICS & POLICY Pub Date : 2024-11-26 DOI: 10.1111/1467-8489.12602
Rao Yuan, Zhengmin Tang

By combining a hypothetical labelled-choice experiment and a between-subject design experiment, this study explores the influence of carbon labels on low-emission meat consumption. The results reveal that carbon labels are effective in encouraging consumers to choose low-emission conventional meat products. However, carbon labels are ineffective in persuading consumers to choose novel meat alternatives. Additionally, the results suggest that the efficiency of carbon labels depends on their format. The traffic-light carbon label was identified as the most effective, reducing carbon emissions from meat consumption by 21.55%, followed by the carbon-reduction label at 18.07% and the carbon-neutral label at 2.6%. The findings raise implications for policymakers in developing standards for carbon labels.

本研究通过假设标签选择实验和受试者间设计实验相结合,探讨碳标签对低排放肉类消费的影响。结果表明,碳标签在鼓励消费者选择低排放的传统肉类产品方面是有效的。然而,碳标签在说服消费者选择新的肉类替代品方面是无效的。此外,结果表明,碳标签的效率取决于他们的格式。红绿灯碳标签被认为是最有效的,减少了21.55%的肉类消费碳排放,其次是碳减排标签18.07%,碳中和标签2.6%。这些发现为决策者制定碳标签标准提供了启示。
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Australian Journal of Agricultural and Resource Economics
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