Bovine somatotropin (BST), a new technology capable of enhancing a cow's ability to produce milk by 7-23 percent, is expected to be available for commercial use soon. Ex ante survey procedures are used to determine the potential effect of BST on the size distribution of dairy farms in the Southeast. Results of logit analysis indicate a positive link between farm size and (1) farmers' knowledge of BST and (2) intentions to adopt early, suggesting BST will not be scale neutral. An estimated “price elasticity” of -1.8 to -2.1 indicates an elastic demand for the input Price, therefore, may be an effective instrument for attenuating the scale bias.

What an economist argues about managing the hazards of new production technologies depends on that individual's beliefs about the scientific credibility of assessed risk of new technologies, about the meaning of voluntary risk and compensations, and about the meaning of “progress” and “nature.” None of these beliefs is derived from the core of the economics discipline. Indeed, the economist's arguments often rest not on economic considerations, but on these matters of belief that are established outside the discipline.

The relationship between the degree of competitive market pressure and the rate of productivity growth is empirically investigated with a case study of the Florida fresh winter vegetable industry. The results indicate that crops which faced considerable competitive pressure exhibited significant productivity growth while the crops that faced minimal competitive pressure generally exhibited little growth in productivity. Thus, the hypothesis that competitive pressure is positively related to productivity growth is supported.

Data from Kansas cattle auctions were analyzed to estimate the impact a wide variety of physical characteristics had upon cow prices. Weight, lot size, health, pregnancy, grade, dressing percent, breed, time of sale, and market location were important factors affecting the differences in cow prices across lots on a given day. Results suggest that producers interested in maximizing the price they receive for their cows should market healthy cows in desirable lot sizes at higher dressing percentages.

To analyze fresh vegetable consumption using household survey data, the tobit model and a more flexible parameterization to the tobit model—the “double hurdle” model—were considered. Based on the likelihood ratio test, the tobit model was rejected against the “double hurdle” specification. Moreover, the results suggest that the tobit model underestimated the impact of the explanatory variables on fresh vegetable expenditures. Other results indicate that total food expenditures (proxy for income), age, household composition, sex, race, marital status, urbanization, region, and seasonality are all important determinants of fresh vegetable expenditures.

Vegetable production can offer a high-valued cash crop alternative. While returns may be high, vegetables are perceived to have more risk than conventional row crops. This study used stochastic dominance analysis to evaluate terminal market price risk for four vegetable crops across five market locations. Results from the analysis identify differences in efficient market selection depending on the form which price risk follows. While vegetables as a whole are considered risky, substantial differences in the type of terminal market price variability existed between the commodities.

A key player in the current policy debate over chemical use in food production is the consumer. In the last few years we have witnessed that consumer activism has been able to force policy change in a number of areas important to the agricultural and food industries. Consumers' perceptions and concerns about pesticide and animal drug residues in foods can translate, in sometimes volatile and unpredictable ways, into market behavior. In addition to affecting the consumer's own satisfaction and welfare, the consumer's market behavior is obviously of major interest to agricultural producers, manufacturers, wholesalers, and food retailers. Policymakers and regulators are feeling heightened pressure to understand and respond better to consumer (and voter) concerns over pesticides and other chemicals commonly used in agriculture.

Use of generalized stochastic dominance (GSD) requires one to place lower and upper bounds on the risk aversion coefficient. This study showed that breakeven risk aversion coefficients found assuming the exponential utility function delineate the places where GSD preferences switch between prospects. However, between these break points, multiple, overlapping GSD intervals can be found. Consequently, when one does not have risk aversion coefficient information, discovery of breakeven coefficients instead of GSD use is recommended. The investigation also showed GSD results are insensitive to wealth and data scaling but are sensitive to rounding.

Agricultural economics has long been a vital component of studies in agriculture at the 1862 institutions; in recent years, it has grown in importance at the 1890 institutions. All of the 1890 institutions currently offer a degree program or course of study in agricultural economics or agribusiness.

This study determined the competitive potential of the temperate southeastern U.S. region to produce selected fresh vegetables for the national market. Results indicated that the region may be competitive in the production and marketing of snap beans, cucumbers, bell peppers, and spring tomatoes. The region would also be competitive in the production and marketing of broccoli, summer and fall tomatoes, and spinach, given cost reductions of 10 to 15 percent. Major cost reductions were required for the region to be competitive in the production and interregional marketing of sweet onions in the absence of effective product differentiation.

Agricultural Planning Expert is a software model designed for advising small-scale farmers in southern Maryland. Choosing farm enterprises is modelled as consisting of four activities: suggesting enterprises for consideration, investigating the suitability of enterprises, allocating resources to suitable enterprises, and controlling the overall direction of an advising session.

Since their inception, land grant universities have played a vital role in the growth and development of the U.S. economy. Indeed, the land grant model of providing access to and the benefits of higher education to the masses have been effective in raising the standard of living throughout the world. However, it is becoming increasingly clear that the focus of the primary unit (the colleges of agriculture and home economics) of land grant universities must change if it is to remain relevant to society.

The economic impacts of recreational visits to state parks on the economies of North Carolina, South Carolina, Georgia, and Tennessee were estimated using the U.S. Forest Service IMPLAN input-output modeling system. Recreational expenditure data associated with state parks were obtained from the Public Area Recreation Visitors Study (PARVS). Results suggest that recreational spending may stimulate a considerable amount of economic activity in the state economies studied. Hence, future research into the economic development potential of outdoor recreation seems warranted.

A vector autoregression (VAR) model of corn, farm egg, and retail egg prices is estimated and shocked with a corn price increase. Impulse responses in egg prices, t-statistics for the impulse responses, and decompositions of forecast error variance are presented. Analyses of results provide insights on the corn/egg price transmission mechanism and on how corn price shocks pulsate through the egg-related economy.