Vertically Aligned Vs. Open Market Coordination: Dominance Or Co-Existence?
AbstractWill a more tightly aligned system become the exclusive coordination or governance system in the pork industry? The analysis shows that the packer prefers to source hogs from both an aligned market and an independent market. This result is because the packer, facing variability in the demand for premium pork, must balance the cost of higher quality aligned hogs and independent hogs against the states of nature for demand for the premium product.
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Bibliographic InfoPaper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2004 Annual meeting, August 1-4, Denver, CO with number 20099.
Date of creation: 2004
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Industrial Organization; Livestock Production/Industries;
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- Martin, Laura L., 1997. "Production Contracts, Risk Shifting, And Relative Performance Payments In The Pork Industry," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 29(02), December.
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- Meyer, Jack, 1987. "Two-moment Decision Models and Expected Utility Maximization," American Economic Review, American Economic Association, vol. 77(3), pages 421-30, June.
- Johnson, C. Scott & Foster, Kenneth A., 1994. "Risk Preferences And Contracting In The U.S. Hog Industry," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 26(02), December.
- Martin, Laura L., 1999. "Navigating Production Contract Arrangements," Staff Papers 11591, Michigan State University, Department of Agricultural, Food, and Resource Economics.
- Lawrence, John D. & Schroeder, Ted C. & Hayenga, Marvin L., 2001. "Evolving Producer-Packer-Customer Linkages in the Beef and Pork Industries," Staff General Research Papers 2060, Iowa State University, Department of Economics.
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