University of Minnesota, Duluth
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Examining Entrepreneurial Ecosystem and Impacts on Hydroponic Operations via the Suitability Analyses – An Example of County Level Perspectives
No full textPrice Connectedness in U.S. Biodiesel and Petroleum Diesel Markets
No full textThis study quantifies market integration across U.S. biodiesel plant-level and wholesale markets, as well as between biodiesel and petroleum diesel wholesale markets. Using Diebold-Yilmaz (2012, 2014) connectedness measures and a rolling window approach, we examine how price connectedness evolves across regions and supply chain levels. We find strong intra-supply chain integration within biodiesel markets and substantial cross-market integration between biodiesel and petroleum diesel wholesale markets. Connectedness declines sharply post-2022, coinciding with the renewable diesel boom as established supply chain interactions and regional price dynamics shift to reflect new market conditions
Impact of Clean Coal Promotion on Social Welfare and Pollutant Emission of Rural Residents in China
No full textCorn Price Expectations and Their Influence on Farmland and Financial Sentiment
No full textFarmers routinely form expectations about future commodity prices in the face of uncertainty. These beliefs influence financial planning, land valuation, and broader economic sentiment. However, little is known about how directional price expectations—such as anticipated increases or decreases—translate into farmers’ sentiment across multiple domains. This study uses direct survey responses from the Purdue University–CME Group Ag Economy Barometer to examine how subjective corn price expectations affect short- and long-term beliefs about farmland values, farm financial conditions, and the general agricultural economy. Drawing on repeated cross-sectional data and estimating ordered logistic regression models, we find that corn price expectations meaningfully shape farmers’ short-term outlooks, particularly regarding their own financial condition and the general U.S. agricultural economy. These effects are notably weaker for long-term expectations, especially those related to farmland values. Moreover, we observe asymmetric responses: expectations of price declines have a stronger influence on negative sentiment than price increases have on optimism, consistent with behavioral theories of loss aversion. Notably, this asymmetry does not extend to land value expectations, suggesting that belief formation varies across domains and planning horizons. Taken together, these findings offer new insight into the behavioral and temporal dimensions of agricultural decision-making
Front-of-Pack Nutritional Labels, consumer food choices, and diet quality: a basket-based Choice Experiment in Italy
No full textReducing plastic pollution in food packaging: Should we tax virgin plastic consumers or producers?
No full textA key feature of circular economy is the economic connection between virgin firms and recycling firms. We develop a conceptual framework to study the impact of taxing virgin plastic consumers with money back policy (TCMB) and, separately, taxing virgin plastic producers (TP) on total social welfare in the U.S. plastic market under two scenarios (virgin and recycling plastic firms economically connected (scenario I) vs independent (scenario II)). We find that taxing consumers with money back (TCMB) policy is superior to taxing producers (TP) to reduce the landfill quantity in both scenarios. For example, under 10% tax (in both TCMB and TP) policy and the assumption of 10% of the used virgin plastic returned to collection centers and 30% of tax amount being returned to consumers in TCMB policy, we find that the landfill quantity is 64% and 62% of virgin plastic produced in scenario I and scenario II, respectively under TCMB policy. However, in TP policy, the landfill quantity is 74% (scenario I) and 74.6% (scenario II) of produced virgin plastic. Accounting the environmental damage cost associated with production of virgin plastic, taxing either consumer or producer increases the total social welfare (TSW) in the U.S. plastic market compared to the no policy scenario. Under scenario II, TCMB and TP generate 23% and 15.67%, respectively, additional total social welfare in the plastic market compared to the benchmark scenario
Does composting increase how much food households throw away? An econometric evaluation using household survey data across nine OECD countries
No full textDo Water Markets Drive Ownership Consolidation? Evidence from California’s Mojave Desert
No full textConcerns about ownership consolidation and sectoral reallocation resulting from the privatization and trade of water are predominant barriers that inhibit the adoption of water markets. However, systematic empirical evaluation of these processes is lacking. We study trends in ownership shares and trading behavior in one of the world’s largest and most liquid groundwater markets, located in California’s Mojave Desert. Adoption of volumetric property rights allowed for trading to begin in the mid 1990s. Previous open-access water use and the initial allocation were both highly unequal, with the top 10% of water rights holders extracting more than half of pumpable water. We document that trading in the Mojave market over the course of 25 years mildly increased ownership consolidation and that top ownership shares were influenced by differential application of pumping ramp-down policies designed to achieve long-term sustainability. A few public water supply systems dominate the top ownership shares, but a test for market power finds no evidence of anti-competitive behavior. We find that those who sold out of the market completely were on average smaller agricultural users, but that they received payouts thatwere not statistically different from price received by those remaining in the market
Are experts overoptimistic about the success of market labeling information?
No full textBeing able to accurately predict the marketing effectiveness of product labels is critical for business profitability. Do industry experts (e.g., domain-specific and domain-general marketers) understand and accurately predict which messages appeal most to consumers? There is limited knowledge in this area, specifically around two essential food attributes: health and taste. Consumers perceive health and taste as trade-offs, which makes their reaction to such marketing information challenging to forecast. This study is the first to quantify the extent to which domain-general vs domain-specific experts can accurately predict consumer responses to health and taste information via marketing labels. We conducted three incentivized studies: Study 1 investigated consumer preferences for simple health versus taste labeling messages with actual consumers. Study 2 uncovered industry domain-specific ‘industry experts’ predictions for average consumers’ willingness-to-pay (WTP) for the messages providing incentives for accuracy. Study 3 employs domain-general ‘marketing experts’ (cross-industry) and evaluates the role of market intelligence in improving consumer valuation forecasts. We found that while both expert types made optimistic predictions that marketing health-related information would effectively increase consumer valuations, consumers did not respond to such information. Moreover, despite exhibiting greater confidence in their predictions than domain-general experts (63% vs 70%), domain-specific industry experts overestimated consumer valuations by 33% relative to the average consumer WTP of $6.80 for an 8 oz. bag of pecans. In contrast, domain-general experts overestimated consumer valuations by only 5%, suggesting possible motivated reasoning among industry-specific experts. Releasing market intelligence to domain-general experts for the baseline valuation (control) improved the accuracy of the forecast for the control, but forecasting inaccuracies for specific labeling messages prevailed