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Cross-Commodity Perspective on Contracting: Evidence from Mississippi

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  • Darren Hudson

    (Mississippi State University)

Abstract

This analysis presents the results of a survey of agricultural producers in Mississippi regarding their use of contracting. The study focuses on cross-commodity differences in contracting and the variable underlying contracting. Logistic regression models are used to examine the impacts of variables coming from transactions cost economics and risk on contracting decisions. Support is found for the effects of transactions cost, but price risk is not found to be an important determinant of contracting decisions.

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File URL: http://128.118.178.162/eps/io/papers/0412/0412005.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Industrial Organization with number 0412005.

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Length: 29 pages
Date of creation: 08 Dec 2004
Date of revision:
Handle: RePEc:wpa:wuwpio:0412005

Note: Type of Document - pdf; pages: 29
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Web page: http://128.118.178.162

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Keywords: contracting; logistic regression;

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  1. Oliver E. Williamson, 2000. "The New Institutional Economics: Taking Stock, Looking Ahead," Journal of Economic Literature, American Economic Association, vol. 38(3), pages 595-613, September.
  2. Goodhue, Rachael E. & Rausser, Gordon C. & Simon, Leo K., 1998. "Understanding Production Contracts: Testing An Agency Theory Model," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20946, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  3. Allen, Douglas W & Lueck, Dean, 1995. "Risk Preferences and the Economics of Contracts," American Economic Review, American Economic Association, vol. 85(2), pages 447-51, May.
  4. Stiglitz, Joseph E, 1974. "Incentives and Risk Sharing in Sharecropping," Review of Economic Studies, Wiley Blackwell, vol. 41(2), pages 219-55, April.
  5. 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.
  6. Hueth, Brent & Ligon, Ethan & Wolf, Stephen & Wu, Steven, 1999. "Incentive Instruments in Agricultural Contracts: Input Control, Monitoring, Quality Measurement, and Price Risk," Staff General Research Papers 5237, Iowa State University, Department of Economics.
  7. Jill E. Hobbs, 1997. "Measuring the Importance of Transaction Costs in Cattle Marketing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1083-1095.
  8. Gillespie, Jeffrey M. & Eidman, Vernon R., 1998. "The Effect Of Risk And Autonomy On Independent Hog Producers' Contracting Decisions," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 30(01), July.
  9. 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.
  10. Joskow, Paul L, 1987. "Contract Duration and Relationship-Specific Investments: Empirical Evidence from Coal Markets," American Economic Review, American Economic Association, vol. 77(1), pages 168-85, March.
  11. Drabenstott, Mark, 1995. "Agricultural Industrialization: Implications For Economic Development And Public Policy," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(01), July.
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