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Contract Structure and Design in Identity-Preserved Soybean Production

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  • Michael Sykuta
  • Joseph Parcell

Abstract

This paper provides a survey of contract design structures in identity-preserved soybean production. Drawing from economic theories of contract and organizational design, we document the allocation of value and decision rights associated with the transaction and the resulting allocation of risk associated with various sources of uncertainty for a sample of contracts for identity-preserved (or segregated) soybeans. We also list several hypotheses and avenues for future research suggested by the contract terms discussed in the paper. Copyright 2003, Oxford University Press.

Suggested Citation

  • Michael Sykuta & Joseph Parcell, 2003. "Contract Structure and Design in Identity-Preserved Soybean Production," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 25(2), pages 332-350.
  • Handle: RePEc:oup:revage:v:25:y:2003:i:2:p:332-350
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    File URL: http://hdl.handle.net/10.1111/1467-9353.00142
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    1. Joseph L. Parcel & Michael R. Langemeijer, 1997. "Feeder-pig Producers and Finishers: Who Should Contract?," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 45(3), pages 317-327, November.
    2. Theofanis Tsoulouhas & Tomislav Vukina, 1999. "Integrator Contracts with Many Agents and Bankruptcy," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(1), pages 61-74.
    3. Harwood, Joy L. & Heifner, Richard G. & Coble, Keith H. & Perry, Janet E. & Somwaru, Agapi, 1999. "Managing Risk in Farming: Concepts, Research, and Analysis," Agricultural Economic Reports 34081, United States Department of Agriculture, Economic Research Service.
    4. Alan Barkema, 1993. "Reaching Consumers in the Twenty-First Century: The Short Way Around the Barn," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(5), pages 1126-1131.
    5. Goodhue, Rachael E. & Rausser, Gordon C. & Simon, Leo K., 1998. "Performance Pay and Producer Incentives: Analyzing Broiler Chicken Production Contracts," CUDARE Working Papers 249311, University of California, Berkeley, Department of Agricultural and Resource Economics.
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