The impact of market advisory service recommendations on producers' marketing decisions

Journal of Agricultural and Resource Economics

Volumn 29, Issue 2, 2004, Pages 308-327

  Pennings, Joost M E ^a,b   Isengildina, Olga ^a   Irwin, Scott H ^a   Good, Darrel L ^a  

^a UNIVERSITY OF ILLINOIS AT URBANA CHAMPAIGN   (United States)

^b WAGENINGEN UNIVERSITY   (Netherlands)

Author keywords

Market advisory services; Ordered probit model; Producers' marketing decisions

Indexed keywords

EID: 4544298260     PISSN: 10685502     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (37)

1. Anderson, K. B., and H. P. Mapp. "Risk Management Programs in Extension." J. Agr. and Resour. Econ. 21,1(July 1996):31-38.
2. Ben-Akiva, M., and S. R. Lerman. Discrete Choice Analysis. Cambridge, MA: MIT Press, 1985.
3. Coble, K. H., R. G. Heifner, and M. Zuniga. "Implications of Crop Yield and Revenue Insurance for Producer Hedging." J. Agr. and Resour. Econ. 25,2(December 2000):432-452.
4. Davis, T. D., and G. F. Patrick. "Forward Marketing Behavior of Soybean Producers." Selected paper presented at AAEA annual meetings, Tampa, FL, July 30-August 2, 2000.
5. Eckman, D. T., G. F. Patrick, and W. N. Musser. "Factors Affecting Written Marketing Plan Adoption by Large-Scale Grain Producers." Rev. Agr. Econ. 18(October 1996):565-574.
6. Ginzberg, M. J. "Finding an Adequate Measure of OR/MS Effectiveness." Interfaces 8,4(August 1978): 59-62.
7. Goodwin, B. K., and T. C. Schroeder. "Human Capital, Production Education Programs, and the Adoption of Forward-Pricing Methods." Amer. J. Agr. Econ. 76(November 1994):936-947.
8. Greene, W. H. Econometric Analysis, 3rd ed. Englewood Cliffs, NJ: Prentice-Hall, Inc., 1997.
9. Grossman, S. J., R. E. Kihlstrom, and L. J. Mirman. "A Bayesian Approach to the Production of Information and Learning by Doing." Rev. Econ. Stud. 43(October 1977):533-547.
10. Hair, J. F., R. E. Anderson, R. L. Tanham, and W. C. Black. Multivariate Data Analysis. Englewood Cliffs, NJ: Prentice-Hall, Inc., 1995.
11. Irwin, S. H., J. Martines-Filho, and D. L. Good. "The Pricing Performance of Market Advisory Services in Corn and Soybeans Over 1995-2000." AgMAS Project Research Report No. 2002-01, University of Illinois, Urbana-Champaign, April 2002.
12. Jaworski, B. J., and A. K. Kohli. "Market Orientation: Antecedents and Consequences." J. Marketing 57(July 1993):53-70.
13. Jobber, D. "Improving Response Rates in Industrial Mail Surveys." Industrial Mktg. Management 15(August 1986):183-195.
14. Johnston, J. Econometric Methods. New York: McGraw-Hill, 1984.
15. Judge, G., W. E. Griffiths, R. C. Hill, H. Lütkepohl, and T. C. Lee. Introduction to the Theory and Practice of Econometrics. Toronto: John Wiley & Sons, 1988.
16. Just, R. E., L. Calvin, and J. Quiggin. "Adverse Selection in Crop Insurance: Actuarial and Asymmetric Information Incentives." Amer. J. Agr. Econ. 81(November 1999):834-849.
17. Kent, P. "Management Advisory Services and the Financial Performance of Clients." Internat. Small Bus. J. 12(July-September 1994):45-58.
18. Martines-Filho, J., D. L. Good, and S. H. Irwin. "1999 Pricing Performance of Market Advisory Services for Wheat." AgMAS Project Research Report No. 2001-03, University of Illinois, Urbana-Champaign, April 2001.
19. Meyer, J., and R. H. Rasche. "Sufficient Conditions for Expected Utility to Imply Mean-Standard Deviation Rankings: Empirical Evidence Concerning the Location and Scale Condition." Econ. J. 102(January 1992):91-106.
20. Norvell, J. M., and D. H. Lattz. "Value-Added Crops, GPS Technology, and Consultant Survey: Summary of a 1998 Survey to Illinois Farmers." Work. pap., College of Agricultural, Consumer, and Environmental Sciences, University of Illinois, Urbana-Champaign, July 1999.
21. Patrick, G. F., W. N. Musser, and D. T. Eckman. "Forward Marketing Practices and Attitudes of Large-Scale Midwestern Grain Producers." Rev. Agr. Econ. 20(Spring/Summer 1998):38-53.
22. Patrick, G. F., and S. Ullerich. "Information Sources and Risk Attitudes of Large-Scale Farmers, Farm Managers, and Agricultural Bankers." Agribus.: An Internat. J. 12(September/October 1996): 461-471.
23. Pennings, J. M. E., and P. Garcia. "Measuring Producers' Risk Preferences: A Global Risk Attitude Construct." Amer. J. Agr. Econ. 83(November 2001):993-1009.
24. _. "Hedging Behavior in Small and Medium-Sized Enterprises: The Role of Unobserved Heterogeneity." J. Banking and Finance 28(May 2004):951-978.
25. Pennings, J. M. E., S. H. Irwin, and D. L. Good. "Surveying Farmers: A Case Study." Rev. Agr. Econ. 24(Spring 2002):266-277.
26. Pennings, J. M. E., and R. M. Leuthold. "The Role of Farmers' Behavioral Attitudes and Heterogeneity in Futures Contracts Usage." Amer. J. Agr. Econ. 82(November 2000):908-919.
27. Pennings, J. M. E., and A. Smidts. "Assessing the Construct Validity of Risk Attitude." Management Sci. 46(October 2000):1337-1348.
28. _. "The Global Shape of Utility Functions and Organizational Behavior." Management Sci. 49(September 2003):1251-1263.
29. Pennings, J. M. E., and B. Wansink. "Channel Contract Behavior: The Role of Risk Attitudes, Risk Perceptions, and Channel Members' Market Structures." J. Business 78 (January 2005): forthcoming.
30. Powers, D. A., and Y. Xie. Statistical Methods for Categorical Data Analysis. San Diego, CA: Academic Press, 2000.
31. Sartwelle, J., D. O'Brien, W. Tierney, and T. Eggers. "The Effect of Personal and Farm Characteristics upon Grain Marketing Practices." J. Agr. and Appl. Econ. 32(April 2000):95-111.
32. Schnitkey, G., M. Batte, E. Jones, and J. Botomogno. "Information Preferences of Ohio Commercial Farmers: Implications for Extension." Amer. J. Agr. Econ. 74(May 1992):486-496.
33. Schroeder, T. C., J. L. Parcell, T. Kastens, and K. C. Dhuyvetter. "Perceptions of Marketing Strategies: Farmers versus Extension Economists." J. Agr. and Resour. Econ. 23,1(July 1998):279-293.
34. Stoneman, P. "Intra-Firm Diffusions, Bayesian Learning, and Profitability." Econ. J. 91(June 1981): 375-388.
35. Tomek, W. G., and H. H. Peterson. "Risk Management in Agricultural Markets: A Review." J. Futures Mkts. 21(2001):953-985.
36. U.S. Department of Agriculture. 1997 Census of Agriculture. Pub. No. AC97-A-51, USDA/National Agricultural Statistics Service, Washington DC, March 1999.
37. Zeithaml, V. A., A. Parasuraman, and L. L. Berry. Delivery Quality Service: Balancing Customer Perceptions and Expectations. Don Mills, Canada: Free Press, 1990.