This paper is based on our ongoing joint work with Ravi Kanbur. Xi Chen is grateful to Ravi Kanbur for invaluable comments, guidance and encouragement. For comments and suggestions, please direct correspondence to Xi Chen at xc49@cornell.edu.

We theoretically examine a farmer’s coverage demand with area and individual insurance plans as either separate or integrated options. The individual and area losses are assumed to be imperfectly and positively correlated. With actuarially fair rates, the farmer will fully insure with the...

This paper is based on an ongoing joint work with David Sahn and Xiaobo Zhang.

Agricultural technology adoption is often a sequential process. Farmers may adopt a new technology in part of their land first and then adjust in later years based on what they learn from the earlier partial adoption. This paper presents a dynamic adoption model with Bayesian learning, in which...

Paper for presentation at the Northeastern Agricultural & Resource Economics Association’s Workshop on Economics and Child Nutrition Programs, AAEA & NAREA Joint Annual Meeting, Pittsburgh, Pennsylvania, July 23, 2011.

This study takes the standard acreage response model that stems from an expected utility framework, accounting for both price and yield variability, and nests it within a flexible semi-nonparametric (SNP) model consistent with farm-level decision models for computationally tractable results. We...

This study attempts to evaluate the economic benefits of the country of origin labeling (COOL) in Taiwan. A Vickrey second-price sealed-bid auction was conducted to estimate the consumer’s willingness to pay for Taiwan products vs. those from China and Vietnam. Our experiment was designed to...

Options on agricultural futures are popular financial instruments used for agricultural price risk management and to speculate on future price movements. Poor performance of Black’s classical option pricing model has stimulated many researchers to introduce pricing models that are more...

This article integrates fuzzy set theory in Data Envelopment Analysis (DEA) framework to compute technical efficiency scores when input and output data are imprecise. The underlying assumption in convectional DEA is that inputs and outputs data are measured with precision. However, production...

First developed meat import demand system, disaggegating poultry meat into two products, cooked poultry (safe)and uncooked poultry meat (less safe). The model includes, beef, pork, and other meats as well.