The Demand for Eastern Oysters, Crassostrea virginica, from the Gulf of Mexico in the Presence of Vibrio vulnificus

California, in response to health concerns, initiated a program on 1 March 1991 which required anyone selling eastern oysters, Crassostrea virginica, from the Gulf of Mexico area to notify potential consumers that there was a risk in consuming them raw. This mandatory warning, followed shortly thereafter by a similar warning in other states, including Louisiana and Florida, received extensive press cover-age throughout the country and particularly in the Gulf area. This paper examines the extent to which the demand for Gulf-area oysters has been reduced as a result of mandatory warning labels and negative publicity. In general, the results suggest that since 1991 the “summer” dockside price has been reduced by about 50% as a result of warning labels and associated negative publicity, while the “winter” dockside price has been reduced by about 30%

An Assessment of Dynamic Behavior in the U.S. Catfish Market: An Application of the Generalized Dynamic Rotterdam Model

The generalized dynamic Rotterdam model was used in estimating U.S. demand for disaggregated catfish. The overall goal was to examine habit persistence in consumption and to determine the adjustment process in demand. Results indicated that it took up to 1 month for catfish-product demand to fully adjust to changes in expenditures and prices. Additionally, habit persistence played a role in demand where present consumption of a given product was positively affected by past consumption of that product. Consequently, U.S. catfish demand was significantly more elastic in the long-run.catfish, demand, dynamics, partial adjustment, Rotterdam model, Agribusiness, Consumer/Household Economics, Demand and Price Analysis, Food Consumption/Nutrition/Food Safety, Institutional and Behavioral Economics, C51, Q11, Q13, Q17,

The impact of federal indemnification on livestock biosecurity

This paper provided a theoretical framework for analyzing the relationship between federal indemnification and livestock biosecurity. Theoretical results show that the responsiveness of biosecurity to indemnity payments depends on a number of factors. First, the responsiveness of biosecurity will depend on the effectiveness of preventive measures in decreasing the growth in animal susceptibility. Second it was found that the responsiveness of disease abatement to changes in an indemnity was an increasing function of the marginal product of abatement. It was also found that abatement was a decreasing function of the rate at which the marginal product diminishes and that the proportion of damages indemnified has a direct affect on abatement. Lastly, it was shown that losses that extend beyond animals values may decrease the impact of indemnification on abatement levels and under certain conditions the level of biosecurity (with added losses)may exceed the no-indemnity optimal.livestock

Market Integration for Shrimp and the Effect of Catastrophic Events

Seasonal unit-root testing and seasonal cointegration methods are employed to investigate the price transmission in U.S. shrimp markets. ARIMA and Vector Error Correction Models (VECM) are used to identify the effect of catastrophic events on individual price series in one region and the spillover effects in the price series for other regions. Results showed that a cointegrating relation exists between neighboring states, specifically between Alabama and Mississippi and Louisiana and Texas. Cointegrating relations also exist between the Gulf States and the Pacific region, but not the Atlantic region, and the price of imported shrimp is cointegrated with each of the domestic shrimp price series. Finally, while Katrina had an effect on shrimp prices in Gulf States, the effect was not long lasting.catastrophic events, cointegration, market integration, seasonal unit-roots, spillover effects, Marketing, Risk and Uncertainty, C13, Q11, Q13,

Evaluating Trade Developments in Dairy Products

Replaced with revised version of paper 02/11/04.International Relations/Trade,

The Impact of Domestic and Import Prices on U.S. Lamb Imports: A Production System Approach

As U.S. lamb imports increased relative to domestic production, and the relative share of chilled to frozen lamb imports increased, importers of chilled lamb have become less responsive to domestic and import prices, while the direct opposite is the case for frozen lamb imports. From 1990 to 2003, chilled lamb imports from Australia and New Zealand became less and less responsive to U.S. prices, and frozen imports became more responsive. Unconditional own-price elasticities also show that, over time, imports of chilled lamb became less responsive to import prices while frozen imports became more responsive to import prices.lamb, demand, imports, trade, import demand, production, International Relations/Trade,

IMPACT OF INCREASING IMPORTS ON THE UNITED STATES SOUTHEASTERN REGION SHRIMP PROCESSING INDUSTRY 1973-1996

This study analyzes the effects of increased shrimp imports on the price-cost margins in three sectors of the U.S. shrimp industry. Results indicates decreasing price-cost margins for peeled shrimp, breaded shrimp, and headless-shell-on shrimp. The increase in shrimp imports reduces domestic processor prices for shrimp products, therefore decreasing processor margins.Demand and Price Analysis, International Relations/Trade,

Evaluating the Economic Impact of Countervailing Duties on United States Warm Water Shrimp Imports

Estimates of price and scale elasticities for U.S. consumed shrimp are derived using aggregate source country shrimp import data. It was assumed that supply was perfectly elastic and U.S. wholesalers determine the quantities imported from individual countries given the prices and preferences of U.S. consumers. Ex-ante analysis suggests that most countries levied with the countervailing duty experience declines in U.S. import demand while those countries not affected by the countervailing duty experience increases in import demand. Ex-post analysis shows the reverse to be true. Several countries impacted by the countervailing duty had increased import demand from the United States while Mexico, which was not affected by the countervailing duty, had decreased import demand. The results from aggregate level data suggest that imposing duties on specific companies within a country may not be effective if that company is not a monopoly producer or controls a significant share of the shrimp produced in that country.International Relations/Trade,