Brief Summary of Minutes of Annual Meeting

Leadership

The group voted to create an outgoing chair position to preserve institutional memory in leadership. This means that volunteers for chair will now serve a three-year term: program chair, accommodations chair, and then outgoing chair. We hope that this will help to keep NIMSS reporting more consistent from year to year.

Dr. Tom Sproul (Univ Rhode Island, 2017 accommodations chair) volunteered to stay on for another year as accommodations chair for the 2018 annual meeting. He will then transition to the new outgoing chair role. Dr. Todd Kuethe (Univ Illinois, 2017 program chair) resigned as temporary program chair. Dr. Nick Paulson (Univ Illinois) volunteered for the new three-year term, starting with program chair for the 2018 annual meeting. 

Meeting Location

The group voted on alternate meeting locations. Hotel quotes were available for both Las Vegas, NV, and for New Orleans, LA, but both locations were deemed to be a poor fit due to cost and other amenities. The group voted to move the meetings to Kansas City for 2018, so long as non-travel costs remain comparable to Pensacola. This move is anticipated to lower travel costs for the overwhelming majority of participants and to increase participation by economics in the Midwest. The group discussed the possibility of attending Kansas City and Pensacola in alternate years.

SCC-76 Publications Reporting for 2017 Annual Meeting

This report includes journal articles and conference presentations only, and includes catch-up reporting since 2012 (all papers prior to 2016 were missed in previous reporting).

2017

Chantarat, S., Mude, A. G., Barrett, C. B., & Turvey, C. G. (2017). Welfare impacts of index insurance in the presence of a poverty trap. World Development, 94, 119-138. 

Liu, P., Vedenov, D., Power, G.J. (2017). "Is Hedging the Crack Spread No Longer All It’s Cracked Up to Be?," Energy Economics 63: 31-40. Elsevier.

McCarl, B.A., and W. Hertel, "Climate Change as an Agricultural Economic Research Topic", Agricultural Economics Policy Perspectives, forthcoming, 2017.

Power, G.J., Eaves, J., Turvey, C.G., Vedenov, D. (2017). “Catching the Curl: Wavelet Thresholding Improves Forward Curve Modelling,” Economic Modelling, 64, 312-321.

Sproul, Thomas W. and Clayton P. Michaud (2017) "Heterogeneity in loss aversion: evidence from field elicitations", Agricultural Finance Review, Vol. 77 Issue: 1, pp.196-216, doi: 10.1108/AFR-05-2016-0045

Woodard, J.D., Verteramo-Chiu, L., Power, G.J., Vedenov, D., Klose, S. (2017). “Factors Affecting Changes in Managerial Decisions,” Agribusiness: An International Journal, forthcoming. Wiley.

2016

Belasco, E. J., Cheng, Y., & Schroeder, T. C. (2016). The impact of extreme weather on cattle feeding profits. Journal of Agricultural and Resource Economics, 40(2), 285-305.

Chambers, R. G., & Voica, D. C. (2016). “Decoupled” Farm Program Payments Are Really Decoupled: The Theory. American Journal of Agricultural Economics, aaw044.

Fernandez, M.A., B.A. McCarl, P. Huang, and V. Mehta, "Decadal Climate Variability in the Missouri River Basin: Value of Information for Agricultural and Water Use Adaptation", Climatic Change, 139, Issue 3, pp 517–533, 2016.

Karagiannis N., H. Assa, A. A. Pantelous, and C. G. Turvey, (2016) “Modelling and pricing of catastrophe risk bonds with a temperature-based agricultural application” .Quantitative Finance  Vol. 16 , Iss. 12,2016

Kropp, J., Power, G.J. (2016). “Asset Fixity and Backward-Bending Investment Demand Functions,” Research in International Business & Finance, 38: 151-160. Elsevier.

Lu, L., Reardon, T., & Zilberman, D. (2016). Supply Chain Design and Adoption of Indivisible Technology. American Journal of Agricultural Economics, 98(5), 1419-1431.

McCarl, B.A., A. Thayer, and J.P.H. Jones, "The Challenge of Climate Change Adaptation: An Economically Oriented Review", Journal of Agricultural and Applied Economics, Volume 48, Issue 4 November 2016, pp. 321-344, 2016.

Michael Norton, Gert-Jan van Sprundel, Calum G. Turvey, and Miranda P.M. Meuwissen (2016) Applying weather index insurance to agricultural pest and disease risks. International Journal of Pest Management  Vol. 62 , Iss. 3,

Power, G.J. (2016) “Quantitative Finance and Commodities,” Agricultural Finance Review, 76(1), 27-41. Emerald.

Sproul, Thomas W. “Time scale and fractionality in financial time series” in Agricultural Finance Review 76, No. 1 (2016): 76-93.

Turvey, C.G and P. Wongsasutthikul (2016) An Autoregressive Approach to Modelling Commodity Prices as a Quasi-Fractional Brownian Motion.Agricultural Finance Review, 76(1): 54-75.

Zhang, Yuehua, Xi Zhu, and Calum G. Turvey (2016) On the Impact of Agricultural Livestock Microinsurance on Death-Loss, Production and Vaccine Use: Observations from a Quasi-Natural Experiment in China. The Geneva Papers,Issues and Practice 41(2):225-243

Zhao, Y., & Zhang, X. (2016). Dairy Cattle Insurance Will Change Dairy Farmers' Anti-risk Inputs?. In 2016 Annual Meeting, July 31-August 2, 2016, Boston, Massachusetts (No. 236231). Agricultural and Applied Economics Association.

Zhou, L., CG Turvey, W Hu, R Ying (2016) Fear and trust: How risk perceptions of avian influenza affect the demand for Chicken China Economic Review 40(September):91-104

2015

Beach, R.H., Y. Cai, A.M. Thomson, X. Zhang, R.I. Jones, B.A. McCarl, A. Crimmins, J. Martinich, J. Cole, S. Ohrel, B. DeAngelo, J. McFarland, K.M. Strzepek, and B. Boehlert, "Climate Change Impacts on US Agriculture and Forestry: Benefits of Global Climate Stabilization", Environmental Research Letters, Volume 10, Number 9, September, 1-16, 2015.

Du, Xiaoxue, Jennifer Ifft, Liang Lu and David Zilberman. 2015. “Marketing Contracts and Crop Insurance.” American Journal of Agricultural Economics, 97(5).

Ifft, Jennifer, Todd Kuethe and Mitch Morehart. 2015 “Does Federal Crop Insurance Lead to Higher Farm Debt Use? Evidence from the Agricultural Resource Management Survey (ARMS)”. Agricultural Finance Review, 75(3).

Kuethe, T. H., Paulson, N., & Schnitkey, G. (2015, May). Crop Insurance’s Role in Farm Solvency. In 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California (No. 205662). Agricultural and Applied Economics Association & Western Agricultural Economics Association.

Lee, Y. N., Bellemare, M. F., & Just, D. R. (2015, May). Was Sandmo Right? Experimental Evidence on Attitudes to Price Risk and Uncertainty. In 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California (No. 205763). Agricultural and Applied Economics Association & Western Agricultural Economics Association. 

Li, Zhou ,  Calum G. Turvey , (2015) "Climate risk, income dynamics and nutrition intake in rural China", China Agricultural Economic Review, 7(2):197 - 220

McCarl, B.A., M. Musumba, J.B. Smith, P. Kirshen, R.P. Jones, L. Deck, M. Abrado, A. El-Ganzori, M. Ahmed, M. Kotb, M. El-Shamy, M.A. Rabbo, I. El-Shinnawy, M. El-Agizy, M. Bayoumi, and R. Hynninen, "Implications of Climate Change for Egypt's Agricultural Sector", Mitigation and Adaptation Strategies for Global Change, Volume 20, Issue 7, pp 1097-1109, 2015.

Roe, B. E. (2015). The risk attitudes of US farmers. Applied Economic Perspectives and Policy, 37(4), 553-574.

Shee, Apurba,  Calum G. Turvey ,  Joshua Woodard , (2015) "A field study for assessing risk-contingent credit for Kenyan pastoralists and dairy farmers", Agricultural Finance Review, Vol. 75(3):330-348

Sproul, Thomas W. and Jaclyn D. Kropp. “A General Equilibrium Theory of Contracts in Community Supported Agriculture” in American Journal of Agricultural Economics 97, No. 5 (2015): 1345-1359. 


Sproul, Thomas W., Jaclyn D. Kropp. And Kyle D. Barr. “The pricing of community supported agriculture shares: evidence from New England” in Agricultural Finance Review 75, No. 3 (2015): 313-329.

Sun, Lin ,  Calum G. Turvey ,  Robert A. Jarrow , (2015) "Designing catastrophic bonds for catastrophic risks in agriculture: Macro hedging long and short rains in Kenya", Agricultural Finance Review, 75(1):47-62

2014

Attavanich, W., and B.A. McCarl, "How is CO2 Affecting Yields and Technological Progress? A Statistical Analysis", Climatic Change, Volume 124, Issue 4 (2014), Page 747-762, 2014.

Dang, T., D.J. Leatham, B.A. McCarl, and X.M. Wu, "Measuring the efficiency of the Farm Credit System", Agricultural Finance Review, 74-1, 38-54, 2014.

Ifft, Jennifer, Shang Wu and Todd Kuethe. 2014. “The Impact of Pasture Insurance on Farmland Values”. Agricultural and Resource Economics Review, 43(3).

Mu, J.E., B.A. McCarl, X.M. Wu, and M.A. Ward, "Climate change and the risk of highly pathogenic avian influenza outbreaks in birds", British Journal of Environment and Climate Change, 4, 166-185, 2014.

Kuethe, T. H., & Paulson, N. (2014). Crop Insurance Use and Land Rental Agreements. In 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota (No. 170528). Agricultural and Applied Economics Association.

Ramirez, O. A., Carpio, C. E., & Collart, A. J. (2014). Producer Welfare Implications of the RMA’s “Shrinkage” Crop Insurance Premium Estimator. In 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota (No. 168367). Agricultural and Applied Economics Association.

Smith, J.B., B.A. McCarl, P. Kirshen, R.P. Jones, L. Deck, M.A. Rabbo, M.S. Borhan, A. El-Ganzori, M. El-Shamy, M. Hassan, I. El-Shinnawy, M. Abrabou, M.K. Hassanein, M. El-Agizy, M. Bayoumi, and R. Hynninen, "The Potential Economic Effects of Climate Change on Egypt", Climate Research, Vol. 62, 59-70, 2014.

Wang, H. H., Wang, Y., & Delgado, M. S. (2014). The transition to modern agriculture: Contract farming in developing economies. American Journal of Agricultural Economics, 96(5), 1257-1271.

2013

Attavanich, W., B.A. McCarl, Z. Ahmedov, S.W. Fuller, and D.V. Vedenov, "Climate Change and Infrastructure: Effects of Climate Change on U.S. Grain Transport", Nature Climate Change, on line at doi:10. 1038/nclimate1892, VOL 3 JULY 2013, 638-643, 2013.

Baker, J.S., B.C. Murray, B.A. McCarl, S.J. Feng, and R. Johansson, "Implications of Alternative Agricultural Productivity Growth Assumptions on Land Management, Greenhouse Gas Emissions, and Mitigation Potential", American Journal of Agricultural Economics, 95: 435-441, 2013.

Egbendewe-Mondzozo, A., L. Elbakidze, B.A. McCarl, M.A. Ward, and J.B. Carey, "Partial equilibrium analysis of vaccination as an avian influenza control tool in the U.S. poultry sector", Agricultural Economics, Volume 44, Issue 1, 111-123, 2013.

Fausti, S. W., Wang, Z., & Lange, B. (2013). Expected Utility, Risk, and Marketing Behavior: Theory and Evidence from the Fed Cattle Market. Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, 61(3), 371-395.

Hagerman, A.D., D.P. Anderson, J.C. Looney, B.A. McCarl, and M.A. Ward, "Rapid Effective Trace-Back Capability Value in Reducing the Cost of a Foot and Mouth Disease Event", Preventative Veterinary Medicine, Jul 1;110(3-4):323-8, 2013.

Ifft, Jennifer, Todd Kuethe, and Mitch Morehart. 2013. “Farm Debt Use by Farms with Crop Insurance”. Choices, 28(3).

Joyce, L.A., D.D. Briske, J.R. Brown, H.W. Polley, B.A. McCarl, and D.W. Bailey, "Climate Change and North American Rangelands: Assessment of Mitigation and Adaptation Strategies", Rangeland Ecology & Management, 66, 512-528, 2013. 

Just, D., & Kropp, J. D. (2013). Production Incentives from Static Decoupling: Land Use Exclusion Restrictions. American Journal of Agricultural Economics, 95(5), 1049-1067.

Liu, E. M., & Huang, J. (2013). Risk preferences and pesticide use by cotton farmers in China. Journal of Development Economics, 103, 202-215.

McCarl, B.A., M.A. Fernandez, J.P.H. Jones, and M. Wlodarz, "Climate Change Agriculture and Food Security: Consequences and Possible Decisions", Current History, vol 112, number 750, 33-37, 2013.

Power, G.J., Vedenov, D., Anderson, D., Klose, S. (2013). “Market Volatility and the Dynamic Hedging of Multi-Asset Price Risk,” Applied Economics, 45, 3891-903. Taylor & Francis.

Power, G.J., Robinson, J.C. (2013). “Commodity Futures Price Volatility, Convenience Yield and Economic Fundamentals” Applied Economics Letters 20(11): 1089-95. Taylor & Francis.

Rejesus, R. M., Marra, M. C., Roberts, R. K., English, B. C., Larson, J. A., & Paxton, K. W. (2013). Changes in Producers' Perceptions of Within-Field Yield Variability after Adoption of Cotton Yield Monitors. Journal of Agricultural and Applied Economics, 45(02), 295-312.

Römer, U., Weber, R., & Musshoff, O. (2013). The Potential of Management Information System Data for the Development of Credit Scoring Models in Microfinance. Präsentiert auf der, 2. 

Shakhramanyan, N.G., U.A. Schneider, and B.A. McCarl, "US agricultural sector analysis on pesticide externalities - The impact of climate change and a Pigovian tax", Climatic Change, Volume 117, Issue 4 </journal/10584/117/4/page/1>, pp 711-723, 2013.

Sproul, Thomas W., David Zilberman and Joseph C. Cooper. “Deductibles vs. Coinsurance in Shallow Loss Crop Insurance” in Choices 28, No. 3 (2013): 1-4.

Thomsen, M., McKenzie, A., Power, G.J. (2013). “Was there a Peso Problem in Cattle Options? Evidence from the 2003 BSE Announcement,” Agricultural Finance Review 73(3): 526-38. Emerald.

Villavicencio, X., B.A. McCarl, X.M. Wu, and W.E. Huffman, "Climate Change Influences on Agricultural Research Productivity", Climatic Change, Volume 119, Issue 3-4, pp 815-824, 2013.

2012

Bellemare, M. F. (2012). As you sow, so shall you reap: The Welfare Impacts of Contract Farming. World Development, 40(7), 1418-1434.

Bulut, H., Collins, K. J., & Zacharias, T. P. (2012). Optimal Coverage Level Choice with Individual and Area Insurance Plans. American Journal of Agricultural Economics, 94(4), 1013-1023.

Chen, C.C., B.A. McCarl, and C.C. Chang, "Climate Change, Sea Level Rise and Rice: Global Market Implications", Climatic Change, Volume 110, Numbers 3-4, 543-560, 2012.

Hagerman, A.D., B.A. McCarl, T.E. Carpenter, J.O. O'Brien, and M.A. Ward, "Emergency vaccination and control of FMD: Consequences of its inclusion as a US Policy Option", Applied Economic Perspectives and Policy, volume 34, number 1, pp. 119-146, 2012.

Hagerman, A.D., K.H. Mathews Jr., and B.A. McCarl, "Economic dimensions and directions of animal disease policy", International Journal of Risk Assessment and Management (IJRAM), Vol. 16, No. 4, 248-264, 2012.

Power, G.J., Salin, V., Park, J. (2012). “Strategic Options associated with Cooperative Members’ Equity,” Agricultural Finance Review 72(1): 48-67. Emerald.

Woodard, J. D., Pavlista, A. D., Schnitkey, G. D., Burgener, P. A., & Ward, K. A. (2012). Government insurance program design, incentive effects, and technology adoption: the case of skip-row crop insurance. American Journal of Agricultural Economics, 94(4), 823-837.