The Marketing Performance of Illinois and Kansas Wheat Farmers

Dietz, Sarah; Aulerich, Nicole M.; Irwin, Scott H.; Good, Darrel

doi:10.1017/s1074070800002625

Cited by 4 publications

(1 citation statement)

References 9 publications

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“…Decisions regarding the combination of these marketing strategies have the potential to significantly affect firms’ economic performance and yet measurement of marketing efficiency (ME) has not been considered in conventional efficiency measurement techniques. Previous studies have addressed the issue of producers’ marketing performance in different industries (e.g., Anderson & Brorsen, ; Cabrini, Irwin, & Good, ; Hagedon, Irwin, Good, & Colino, ; Cunningham, Brorsen, & Anderson, ; Dietz, Aulerich, Irwin, & Good, ). Although these studies provide relevant insights, they do not recognize that changes in prices associated with alternative marketing strategies may lead to reallocations of inputs and outputs along a technological frontier.…”

Section: Introductionmentioning

confidence: 99%

A nonparametric frontier measure of marketing efficiency: An illustration with corn ethanol plants

2017

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This article extends nonparametric measures of efficiency to accommodate the concept of marketing efficiency, which measures changes in net revenues brought about by firms’ use of marketing channels other than spot markets. The measure is appropriate for firms operating under atomistic competition with imperfect information. The proposed measure displays two important features: (a) it uses the alternative of a spot price‐based counterfactual to distinguish marketing from allocative efficiency, and (b) it allows for the fact that firms operate in different spot markets and have access to diverse sets of prices. We illustrate this approach with a unique dataset from ethanol plants in the U.S. Corn Belt. [EconLit citations: C61, D2, L2].

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Section: Introductionmentioning

confidence: 99%

A nonparametric frontier measure of marketing efficiency: An illustration with corn ethanol plants

2017

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Profit Margin Hedging

Brorsen

Anderson

2010

American J Agri Economics

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Some extension economists and others recommend profit margin hedging as a way to choose the timing of crop sales. However, the theory behind this strategy recommendation is not well developed. This article determines the producer's utility function and price processes where profit margin hedging is optimal. Profit margin hedging is shown to be an optimal strategy under a highly restricted target utility function even in an efficient market. Profit margin hedging is profitable if prices are mean reverting.

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Marketing Contracts, Overconfidence, and Timing in the Canadian Wheat Market

Mattos¹,

Fryza²

2012

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The Marketing Performance of Illinois and Kansas Wheat Farmers

Abstract: The purpose of this paper is to investigate the marketing performance of wheat farmers in Illinois and Kansas over 1982-2004. The

Cited by 4 publications

References 9 publications

A nonparametric frontier measure of marketing efficiency: An illustration with corn ethanol plants

A nonparametric frontier measure of marketing efficiency: An illustration with corn ethanol plants

Profit Margin Hedging

Marketing Contracts, Overconfidence, and Timing in the Canadian Wheat Market

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