Papers by Michael Gunderson
A relative increase in demand for one type of beef can have one of two potentially countervailing... more A relative increase in demand for one type of beef can have one of two potentially countervailing effects: it can cause substitution of one type for another and/or it might expand overall demand. The results of a random parameters logit analysis indicate that regardless of whether USDA Choice or upgraded steak demand increases, the expansion effect dominates the substitution effect.
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The material contained herein is supplementary to the article named in the title and published in... more The material contained herein is supplementary to the article named in the title and published in the American Journal of Agricultural Economics.
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This paper investigates how the demand for orange juice is affected by the demographics of consum... more This paper investigates how the demand for orange juice is affected by the demographics of consumers. There are many variables in the orange juice demand equation and demographics are only one. Demographic variables are important in determining the tastes and preferences of different regions. The data that has been collected is weekly data over a two year period of time.
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This teaching case focuses on the application of decision tools to assist managers making choices... more This teaching case focuses on the application of decision tools to assist managers making choices in an uncertain business climate. The case considers the difficult task of introducing a new product into the market. Under consideration is a sophisticated, surface-scanning technology that has applications in the food processing, food retail, and health industry sectors. Management of eMerge Interactive is faced
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Purdue University’s Center for Food and Agricultural Business undertook the 2008 Large Commercial... more Purdue University’s Center for Food and Agricultural Business undertook the 2008 Large Commercial Producer Survey with the goal of providing food and agribusiness firms with a clear depiction of the commercial producers—a group that purchases the majority of agricultural inputs. This survey summarizes the results of more than 2,500 farm operator interviews completed in January and February 2008. The center
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A relative increase in demand for quality can have one of two potentially countervailing effects:... more A relative increase in demand for quality can have one of two potentially countervailing effects: it can cause substitution of one quality for another and/or it might expand overall demand by bringing new consumers into the market. This article investigates demand expansion and substitution among beef qualities by exploiting the use of a no-purchase option in a nonhypothetical choice experiment
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This study investigates the impact of differing U. S. Farm Policy regimes on the stock prices of ... more This study investigates the impact of differing U. S. Farm Policy regimes on the stock prices of publicly traded agribusinesses. Following the Roll and Ross approach, we apply a two step Arbitrage Pricing Model (APM). We analyze the effect of agricultural policy on returns to agribusiness by applying a modified APM to agricultural returns to test for the presence of
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Loan records and lender credit risk classifications are used to examine agricultural credit risk ... more Loan records and lender credit risk classifications are used to examine agricultural credit risk migration. The results include estimates of the likelihood of borrowers transitioning among five credit risk tiers. The paper also examines factors that influence or predict credit risk migration and its impact on loan pricing.
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Product innovation for a juice company and its associated first-mover advantages are analyzed. St... more Product innovation for a juice company and its associated first-mover advantages are analyzed. Stochastic simulation is used to model market size, price, competitive intensity, and the likelihood of competitor entry. Results of moving first allow the firm to capture market share, realize first-mover advantages in excess of $2 million, and deter competitor innovation. In addition, the proposed model is flexible
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Detailed customer loan records were used to investigate the profitability of agricultural lending... more Detailed customer loan records were used to investigate the profitability of agricultural lending relationships. Analyses consider a variety of factors that influence the costs and returns associated with agricultural lending relationships. Among other things, the results provide evidence of substantial economies of size at the relationship level.
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The efficient market hypothesis would suggest that stock prices incorporate the information revea... more The efficient market hypothesis would suggest that stock prices incorporate the information revealed in the public process of creating legislation as the debate occurred. Thus, there should be no abnormal returns to agribusiness stocks on key legislative dates when drafting and altering the farm bill. Using an event study methodology, key legislative dates are tested for abnormal returns to firms
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The IFAMR is published by (IFAMA) the International Food and Agribusiness Management Review. www.... more The IFAMR is published by (IFAMA) the International Food and Agribusiness Management Review. www.ifama.org
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… 6-9, 2010, Orlando, …, 2010
Background The value of an asset should be equal to the discounted future cash flows generated by... more Background The value of an asset should be equal to the discounted future cash flows generated by that asset. Research in agricultural finance has attempted to explain agricultural land prices based on the simultaneous movement of land prices and another ...
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Journal of …, 2009
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Purdue University’s Center for Food and Agricultural Business undertook the 2008 Large Commercial... more Purdue University’s Center for Food and Agricultural Business undertook the 2008 Large Commercial Producer Survey with the goal of providing food and agribusiness firms with a clear depiction of the commercial producers—a group that purchases the majority of agricultural inputs. This survey summarizes the results of more than 2,500 farm operator interviews completed in January and February 2008. The center first conducted this survey in 1993 and collects new data every five years. This study offers a broad look at changes in farm businesses over time. In addition to demographic information, the questions specifically explore the goals, attitudes and buying behaviors of large commercial farming and ranching operations.
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2008 Annual Meeting, …, 2008
... Carlos Omar Trejo-Pech 1 Richard N. Weldon 2 Michael A. Gunderson 2 1School of Business and E... more ... Carlos Omar Trejo-Pech 1 Richard N. Weldon 2 Michael A. Gunderson 2 1School of Business and Economics, Universidad Panamericana at Guadalajara, México 2 Food and Resource Economics Department, University of Florida, Gainesville, Fl, United States of America ...
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American Journal of Agricultural Economics, 2009
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American Journal of Agricultural Economics, 2005
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Papers by Michael Gunderson