Because of considerably increased farmland prices, not only in Germany, the question arises whether farmland is still affordable for farmers. Hence, there is a call for price caps. If farmland prices are to be capped by political intervention, identifying the main farmland price determinants especially for the highest prices is essential. Using quantile regression for German standard farmland values, we find heterogeneous relationships across the estimated quantiles for several covariates. Nonagricultural factors are often more pronounced at the upper tail of the conditional distribution. We recommend focusing primarily on factors in the upper quantiles to prevent further farmland price increases.

China has become the largest importer of roundwood and lumber products in recent years. In this study, the degree of competition among major supplying countries in China's import market is measured through the inverse residual demand elasticity over 1995–2015. Time-series properties of the data are considered through the autoregressive distributed lag model. The analysis reveals that market power exists in roundwood and lumber markets for a few supplying countries. The suppliers in the lumber import market have more market power than those in the roundwood market. Individual countries with substantial market power have more fluctuations in trading volumes.

This study contributes to the literature by using a spillover index method to examine the changing interrelations in volatility among corn and energy future prices. This methodology allows us to account for endogenously determined economic fundamentals and market speculation. After controlling for market trends and seasonality, we find relative large increases in volatility spillovers between corn, crude oil, and ethanol futures prices. Our results suggest that the cross-commodity spillovers provide useful incremental information in determining future price volatility; however, a commodity's own dynamics explain the largest portion of volatility spillovers.

This study measures willingness to pay (WTP) for extrinsic attributes (Angus, local, DNA traceable, raised carbon friendly, and humanely treated cattle) in steak and ground beef using choice-based experiments from a national consumer survey. Belief that survey responses could have consequences on beef products offered by the steak and ground beef industry is investigated, as well as its effect on attribute WTP. For most attributes, belief in consequentiality increases WTP. Results suggest that although consequentiality believers tend to place greater importance on certain food industry issues, they are less certain about the attribute's provision actually effecting change in the industry.

Agricultural economics and agribusiness (AEAB) programs offer their graduates unique exposure to agricultural markets, policy, and production systems, which differentiates them from business programs. Despite the advantages associated with AEAB degrees, a significant challenge universities and AEAB graduates face is a general lack of recognition of what agricultural economics is and what an agricultural economist does. Using data collected from U.S. 1862 and 1890 land grant universities, we stress the importance of designing effective AEAB curricula based on enrollment trends, the desired attributes of graduates, and the current structure of AEAB undergraduate programs.

We develop a model for a representative risk-averse cotton farmer to analyze the impact of crop insurance policies (Revenue Protection [RP], Yield Protection, Stacked Income Protection Plan [STAX], and Supplemental Coverage Option [SCO]). The model is calibrated and numerically optimized to quantify the effects of different insurance policy combinations on input use (moral hazard), insurance coverage levels, premiums, and certainty equivalent. When the farmer elects only RP, the optimal coverage rate is 80%. Under RP and STAX, the optimal RP coverage rate is 70% and the STAX coverage rate is 90%. RP and STAX is the optimal policy combination based on certainty equivalents. The RP and SCO combination has the lowest impact of input use.

This study examines southeastern consumers’ willingness to pay for marginal changes in production practices that lessen the impact on the environment but that fall short of a complete conversion to organic production. We find that consumers are willing to pay more for tomatoes grown using less water, that contain less pesticide residue, that are not grown with petroleum-based fertilizers, and that travel shorter distances to the final point of sale. These estimates provide a starting point for producers who cannot convert to organic production but for whom it might be profitable to make (more feasible) marginal production changes.

Weed-suppressive rice cultivars have the potential to reduce heavy reliance on synthetic herbicides in rice production. However, the economics of using weed-suppressive rice cultivars in conventional rice systems have not been fully evaluated. This study uses simulation and stochastic efficiency with respect to a function to rank weed-suppressive and weed-nonsuppressive rice cultivars under alternative herbicide intensity levels based on their certainty equivalents mapped across increasing levels of absolute risk aversion. The results indicate risk-averse rice producers would prefer to grow weed-suppressive cultivars using less herbicide inputs than what would be used to grow weed-nonsuppressive rice cultivars.

We develop a dynamic economic model based on contemporary understanding of learning and motivation. The model and resulting comparative static analysis show the instructor's role in providing a productive learning environment. Instructors should set the complexity of course assignments and assessments to be consistent with student preparedness. Learning is enhanced when the rate of change in challenge is based on the rate of change of how rapidly students are learning. Instructors steer students toward a productive trajectory with tasks that cause students to work hard and by consistently providing feedback and fostering a culture of learning.

Determinants of prices of 1,302 weanling Thoroughbreds sold at the 2010 Keeneland November Breeding Stock Sale are investigated. A hedonic pricing model is adopted to identify price determinants, and the corresponding marginal values of those determinants are estimated. Prices were responsive to pedigree quality variables, including the sire's stud fee, the stage of the sire's breeding career, and whether the dam or the dam's progeny had earned “black type.” In addition, individual weanling characteristics such as gender, age, state of birth, and sale placement influenced price. Results can be used as a decision tool by both buyers and sellers.

In developing countries, problems such as malnutrition and food insecurity are shifting from rural to urban areas because of rapid urbanization. However, regional variations in alimental food consumption within urban settings have often been ignored. Using survey data, our study examines regional patterns of expenditure on fresh vegetables, fruits, and peanut products in urban households of Ghana. After accounting for socioeconomic and demographic factors, food expenditure on fresh vegetables and peanut products and income elasticity vary significantly across major cities. Food distributors may adjust their marketing strategies, while policy makers should pay attention to possible disparities in urban areas.

This study investigates the effects of material and symbolic quality attributes on the Cup of Excellence specialty coffee quality scores and prices. The estimates from the quality score equations suggest that material attributes are important determinants, but symbolic attributes have a greater explanatory power. The hedonic price estimations show that specialty coffee prices are mainly determined by symbolic attributes and market conditions such as the number of coffees in the auction. Overall, the study reveals that fruity, floral, sweet, spice, and sour acid are cuppers' and buyers' most favorite coffee flavors and aromas.

Both the autoregressive distributed lag (ARDL) and the nonlinear ARDL frameworks are applied to model U.S. imports of cocoa beans from Côte d'Ivoire, Ghana, and the Dominican Republic (more than 90% of U.S. cocoa imports originate from these three countries). The results provide evidence of nonlinear and asymmetric pass-through of exchange rates, regional quality difference, and imperfect competition in U.S. cocoa imports. Furthermore, a rise or fall in U.S. income leads to an increase or decrease in U.S. cocoa imports.

The dependent variable in the Rotterdam model is shown to consist of two additive components: the proportionate change in the average product weight consumed by existing buyers and the proportionate change in the share of total consumers who actually purchase the product. Applying the extended model to household data on salmon consumption in France, results suggest prices have a larger effect on attracting new buyers to the product in question than on getting existing buyers to consume more. However, generic advertising was found to affect consumption intensity but have no effect on market participation in the short run.

The Agricultural Act of 2014 introduced new crop insurance policies to manage agricultural risk, especially to cotton farmers. A representative farm panel was used to elicit the yield distribution of the farm, county, and correlation. Results suggest that the optimal underlying insurance policy is Revenue Protection at a 75% coverage level for both high- and low-productivity farms even with a Yield Exclusion provision. The Stacked Income Protection Plan benefit is mostly attributable to a higher insurance premium subsidy. For any crop, efficient agricultural risk management can be achieved through understanding the guaranteed yield and its relation to the farm and county yield.

Hedonic modeling of Oklahoma cow auction data is used to determine the market value of bred cow characteristics. We use Agricultural Marketing Service data that let us consider more years and more lots of cattle than is typical for a cattle hedonic study. The greatest price premiums were for black, late-gestating cows, categorized as high quality by market reporters and weighing between 1,600 and 1,700 lb. Previous research on optimal cow size finds much smaller-size cows are optimal, and our research finds that larger cows receive a lower price per pound but still receive a substantially higher price per head.

The U.S. livestock industry is increasingly faced with pressure to adjust practices in response to societal concerns—specifically related to farm animal welfare. Using best-worst scaling, we determine which practices the U.S. public and cow-calf producers view as the most effective and most practical practices to improve beef cattle welfare. Latent class models are used to understand heterogeneity within and across the public and producers. Fresh, clean feed and water was viewed by most groups as both effective and practical. Furthermore, castrate with pain control and dehorn with pain control were seen as the least effective and practical practices.

Although Tennessee has Advanced Master Beef Producer (AMBP) and Beef Quality Assurance (BQA) certifications for cattle producers, currently there is no state-certified beef labeling program. A choice experiment was administered to Tennessee consumers to determine their willingness to pay for Tennessee Certified Beef (TCB) and other attributes such as labels indicating producer participation in AMBP and BQA. Random parameter logit model results indicate consumers most valued TCB steak and no-hormones-administered ground beef. Consumers also valued many labels when appearing alongside the TCB label. The impact of providing participants label definitions prior to the choice experiment was examined.

Ecosystem stewardship is an important goal of crop production management. The developing question has been the feasibility and profitability of best management practices (BMPs) associated with stewardship goals. Treatment-effects empirical estimates show that soybean crop ecosystem stewardship is likely to benefit from precision agriculture's (PA) information technologies to varying degrees. After accounting for the effect of overhead expenditures on technology adoption, and input costs on operating costs and profits, we show PA technologies also affect at least six BMPs. In one comprehensive framework, PA technologies affect profits, and improve crop production management through BMPs, with benefits for ecosystem stewardship.

U.S. agriculture has seen a rapid adoption of biotechnology over the last two decades. This study investigates how biotechnology has affected U.S. farm input demand and agricultural productivity. The analysis relies on data at the national level and at the state level for selected states in the Corn Belt. It evaluates the rate of technological change and price elasticities of demand for agricultural inputs over time. The study documents the evolving biases in technological change in agriculture. It finds evidence that farm input demands have become more price inelastic.