Journal of agricultural and resource economics, 2008-04, Vol.33 (1), p.69-86
2008
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Details
- Autor(en) / Beteiligte
- Titel
- Procurement strategies to improve quality consistency in wheat shipments
- Ist Teil von
- Journal of agricultural and resource economics, 2008-04, Vol.33 (1), p.69-86
- Ort / Verlag
- Logan: Western Agricultural Economics Association
- Erscheinungsjahr
- 2008
- Quelle
- Alma/SFX Local Collection
- Beschreibungen/Notizen
- Consistency of functional characteristics in wheat is a concern confronting buyers and sellers. This research analyzes the cost and risk of different procurement strategies for importers. A stochastic simulation model is used to determine the probability of functional characteristics being satisfied subject to quality targets and costs for alternative purchase strategies. Stochastic efficiency was employed to identify purchase strategies that dominate others and to determine the extent of preference. As more specific characteristics are incorporated into a contract, results indicate that the probabilities of meeting end-use requirements increase.
- Sprache
- Englisch
- Identifikatoren
- ISSN: 1068-5502eISSN: 2327-8285DOI: 10.22004/ag.econ.36708Titel-ID: cdi_doaj_primary_oai_doaj_org_article_86e2b647068d49c7bf68e6444ff46564
- Format
- –
- Schlagworte
- buying strategies, commodity prices, contracting, Cost efficiency, Cost functions, Costs, crop quality, Discounts, Economic costs, Efficiency, Farm economics, food processing quality, functional characteristic tests, functional properties, location, Marketing, Privatization, Procurement, Proteins, Purchasing, Resource economics, Risk aversion, Risk premiums, risks, simulation, simulation models, stochastic efficiency, Triticum aestivum, variety, Wheat