Quality uncertainty is of considerable interest to the grain industry. In this paper, uncertainty is incorporated in a model of grain blending decisions. A mixed-integer, nonlinear optimization problem is developed. Simulations illustrate the effect of crop quality on blending decisions, and the...

The effects of diversification on firm value in the food economy are analyzed within four major sectors: processing, wholesale, retail, and restaurant. We find that diversification in the food economy contributes to positive excess firm value. Processing firms are most likely to diversify while...

Producers, researchers, and policy makers have an interest in market effects from meatpacking plant closings and openings. This paper presents results from a study taking a dual approach to determining impacts from an anticipated hog slaughtering plant opening and an unexpected fed cattle...

This paper examines the changes in the farm sector wealth from 1950 through 1999. The study uses Theil's entropy-based measure of inequality of farm equity by ten regions of the U.S. The entropy-measure is then used to decompose U.S. inequality into within-region and between-region differences....

This manuscript investigates the productivity-industrial concentration relationship in U.S. food industries. We identify a critical level of industrial concentration beyond which its relationship with productivity growth becomes negative. The welfare effects of an increase in concentration -...