Microeconomics of Agricultural Grading: Impacts on the Marketing Channel
AbstractIn this paper I focus on how grade prices affect the provision of product transformation skills in the food marketing system. A self-protection model is used to show how resources are allocated to protect the potential value of commodities in the marketing channel. Resource allocations may be complementary, and complementarity may be exploited to expand an industry. Further, uncertainty concerning skill levels may inhibit expansion. Because two primary objectives of agricultural extension involve facilitating skill acquisition and disseminating market information, the model confirms roles for extension personnel. The optimal location of transformation skills in a sequence of operations is also studied. Key words: grading, industry structure, multiple equilibria, quality, self-protection.
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Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 5033.
Date of creation: 01 Nov 1995
Date of revision:
Publication status: Published in American Journal of Agricultural Economics, November 1995, vol. 77 no. 4, pp. 980-989
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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
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Other versions of this item:
- Hennessy, David A., 1998. "Microeconomics of Agricultural Grading: Impacts on the Marketing Channel," Staff General Research Papers 1703, Iowa State University, Department of Economics.
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- Moschini, GianCarlo, 2001.
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- Giovannucci, Daniele & Reardon, Thomas, 2000. "Understanding Grades and Standards: and how to apply them," MPRA Paper 13549, University Library of Munich, Germany.
- Marshall, Maria I., 2002. "Political Market Impacts On Mexican Import Permits For White Corn," 2002 Annual Meeting, July 28-31, 2002, Long Beach, California 36556, Western Agricultural Economics Association.
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