Journal•ISSN: 1068-5502
Western Journal of Agricultural Economics
About: Western Journal of Agricultural Economics is an academic journal. The journal publishes majorly in the area(s): Agriculture & Futures contract. It has an ISSN identifier of 1068-5502. Over the lifetime, 488 publications have been published receiving 8648 citations. The journal is also known as: JARE.
Topics: Agriculture, Futures contract, Econometric model, Agricultural productivity, Water conservation
Papers published on a yearly basis
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TL;DR: In this paper, the authors used primary data collected from a survey conducted in Georgia to analyze consumer preferences for testing and certification of fresh produce and consumers' willingness to pay for fresh produce that is certified as free of pesticide residues.
Abstract: The study uses primary data collected from a survey conducted in Georgia to analyze consumer preferences for testing and certification of fresh produce and consumers' willingness to pay for fresh produce that is certified as free of pesticide residues (FPR). An ordered probit model was estimated to identify the impacts of various exogenous variables on the probability of consumers' willingness to pay for a number of alternative price premiums. The results indicate that consumers' willingness to pay differs with respect to a number of factors. The study concludes that most of the consumers recommend testing and certification, but they oppose large price markups for certified-FPR fresh produce.
259 citations
TL;DR: A theoretical framework in which to formally consider health and nutrition factors in demand analyses is developed to empirically identify and assess the impacts of information pertaining to cholesterol on the demands for beef, pork, poultry, and fish.
Abstract: A theoretical framework in which to formally consider health and nutrition factors in demand analyses is developed. The framework is employed to empirically identify and assess the impacts of information pertaining to cholesterol on the demands for beef, pork, poultry, and fish. Issues in considering health and nutrition factors in food demand analysis are documented.
218 citations
TL;DR: A number of traditional and popular functional forms are catalogued with respect to intrinsic properties to provide an improved and uniform basis for form selection.
Abstract: Functional form selection is a sometimes neglected aspect of applied research in production analysis. To provide an improved and uniform basis for form selection, a number of traditional and popular functional forms are catalogued with respect to intrinsic properties. Guidelines for the conduct of form selection are also discussed.
175 citations
TL;DR: In this paper, the authors examined whether short-run cash price adjustments are asymmetric in the sense that response to price increases are different than responses to price decreases, and they did not directly test hypotheses about the reasons for any observed asymmetry.
Abstract: An issue examined in recent research is whether short-run cash price adjustments are asymmetric in the sense that responses to price increases are different than responses to price decreases. This research has centered on whether price adjustments between levels of a marketing channel are asymmetric (Kinnucan and Forker; Boyd and Brorsen; R. Ward). No research has examined the case of spatial cash price adjustments. Spatial price adjustments in cattle markets might be asymmetric for several reasons including asymmetric adjustment costs, asymmetric information, market concentration, and asymmetric price reporting. Our purpose was to determine whether shortrun cash price adjustments of spatial fed cattle markets are asymmetric. Like past research on this issue, we tested for the existence of asymmetry. We did not directly test hypotheses about the reasons for any observed asymmetry. The procedure used to test asymmetry is to regress price changes in one market on both the positive and negative price changes in another market. This provides a measure of the relative influence of price changes (both positive and negative) in one location on another market location. Two statistical tests are conducted to determine if (a) the total effect
169 citations
TL;DR: In this paper, it is shown that inappropriate rescalings of the outcome variable can lead to inaccurate rankings produced by generalized stochastic dominance, and the effect of this misunderstanding has led to ambiguity in classifying attitudes by risk aversion coefficients.
Abstract: The Pratt-Arrow measure of absolute risk aversion, as defined by r(x) = -u"(x)/u'(x), is well known to be invariant to linear transformations. However, this invariance property applies with respect to transformations of u and not with respect to arbitrary rescalings of the outcome variables, x. The effects of this misunderstanding has led to ambiguity in classifying attitudes by risk aversion coefficients. It is shown that inappropriate rescalings of the outcome variable can lead to inaccurate rankings produced by generalized stochastic dominance. The Pratt-Arrow absolute risk aversion coefficient (Pratt), defined as r(x) -u"(x)/u'(x), has been used in many analyses which order alternative action choices under conditions of uncertainty (Cochran, Robison, and Lodwick; Cochran et al.; Danok, McCarl, and White; Holt and Brandt; King and Lybecker; King and Oamek; Kramer and Pope; Lemieux, Richardson, and Nixon; Meyer 1977b; Rister, Skees, and Black; Tauer 1985; Wilson and Eidman 1985; Zacharias and Grube). Problems arise, particularly in applications of generalized stochastic dominance (or stochastic dominance with respect to a function-SDWRF) (Meyer 1977a) when Pratt-Arrow coefficients elicited in one study are used as secondary data in other studies with different outcome ranges. It is well known that the Pratt-Arrow measure is invariant to linear transformations (King and Robison, p. 512). However, this invariance property applies only to transformations of u
161 citations