Experimental economics procedures such as laboratory experimental auctions are increasingly being used to measure consumers' willingness-to-pay. A sealed-bid, fourth-price Vickrey-style auction was used to measure consumers' willingness-to-pay for flavor in beef steaks. Two hundred and...

A comparative analysis was performed looking at using cash, futures, options, or insurance to manage the price of calves for cow-calf producer. Risk can be reduced with the futures market and with options or LRP insurance. Options and LRP insurance are equivalent in the amount of risk that is...

The validity and effectiveness of using experimental auctions to elicit consumers' willingness-to-pay for closely related, quality-differentiated products is examined. The effect of panelists' demographics on bid values and auction winners, and the impact of experimental procedures on auction...

A directed a cyclical graph (DAG) methodology was used to discover changes in price relationships among cull cow markets in the U.S. and Canada resulting from the trade ban initiated by the discovery of bovine spongiform encephalopathy (BSE, also called mad cow disease), in a Canadian cow in...

Dry bean prices, as received by the grower and the dealer, were analyzed for four different production regions, and for two of the major varieties grown in the US. The dry bean price series were not stationary. Prices for each variety were cointegrated across the production regions and between...