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Producer Price Risk and Quality Measurement

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  • Hueth, Brent
  • Ligon, Ethan

Abstract

Risk-averse farmers in the produce industry grow a product whose market price is often quite unpredictable. Shippers or other intermediaries shield the farmer from much of this price risk; however, actual contracts between growers and shippers vary considerably across commodities in the residual price risk growers face. We hypothesize that imperfect quality measurement results in a moral hazard problem, and that price provides additional information regarding quality. As a consequence, an efficient contract does not shield growers from all idiosyncratic price risk. We examine this hypothesis for the case of fresh-market tomatoes. Copyright 1999, Oxford University Press.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Hueth, Brent & Ligon, Ethan, 1998. "Producer Price Risk and Quality Measurement," CUDARE Working Papers 198661, University of California, Berkeley, Department of Agricultural and Resource Economics.
    • Handle: RePEc:ags:ucbecw:198661
    DOI: 10.22004/ag.econ.198661
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    Keywords

    Public Economics; Risk and Uncertainty;

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