Smart Search
Cari koleksi dengan cepat sesuai kebutuhan Anda.
Payment for environmental service contracts commonly require actions beyond adoption of a practice, such as undergoing specified enrollment procedures, granting consent to being monitored, and paying penalties for violations. These provisions are a bundle of attributes a landholder must accept with contract enrollment, leading to transaction costs in the contracting process. This article develo…
- Tahun Terbit
- -
In a well-functioning futures market, the futures price at expiration equals the price of the underlying asset. This condition failed to hold in grain markets for most of 2005-2010, calling into question the ability of these markets to perform their price discovery and risk management functions. During this period, futures contracts expired up to 35% above the cash grain price. We develop a dyn…
- Tahun Terbit
- -
Crop yield shocks are partially predictable�high planting-time futures prices have tended to indicate that yield would be below trend. As a result, regressions of total caloric production on futures prices produce estimates of the supply elasticity that are biased downwards by up to 75%. Regressions of the world�s growing area on futures prices have a much smaller bias of about 20% be…
- Tahun Terbit
- -
