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Primary and Secondary Producers: Economic Implications of Contracts in the Food Marketing Chain

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  • Andersson, Hans

Abstract

In this paper a principal-agent model is used to examine the optimal contracting problem of a large processor situated in a geographically limited area. The model is an extension of Holthausen's result (1979). The model design considers various degrees of price-risk exposure for raw material and processed products, risk preferences and technology parameters. The optimal contract is endogenously determined and shown to be a function of technology parameters, factor prices, risk measures in the spot markets and risk preferences of the parties involved. Copyright 1995 by Oxford University Press.

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  • Andersson, Hans, 1995. "Primary and Secondary Producers: Economic Implications of Contracts in the Food Marketing Chain," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 22(3), pages 310-320.
    • Handle: RePEc:oup:erevae:v:22:y:1995:i:3:p:310-20
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    Cited by:

    1. Ahn, Kyeong Ah & Choi, Young Chan, 2016. "Role of farmer’s attitude to risk in the relationship between trust and contract decisions: The fresh apple market in South Korea," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235762, Agricultural and Applied Economics Association.
    2. Olmos, Marta Fernandez & Rosell-Martinez, Jorge & Espitia-Escuer, Manuel Antonio, 2008. "The yield/quality trade-off and contractual choice," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6065, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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