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Trends in the types of foods Americans purchase are evident just by looking around the grocery store. Foods stuffs requiring extensive preparation are being replaced by convenience products that require little time, energy, or preparation. Food companies constantly invest in research and development of new convenience foods to make daily life easier for consumers.
The objective of this study is to determine whether the demand for convenience foods is growing around the globe, and if so, to identify the various drivers responsible for the increase in demand. Secondary data were collected for 67 different countries on the quantity and value for four different food types of convenience food: frozen processed foods, chilled processed foods, meal replacement products, and sweet and savory snacks. Data were also found on potential drivers of convenience such as age, income, food budget, etc. All data had 10 years of information (1998 to 2007) and were collected through databases from Euromonitor or the World Bank and analyzed using regression analysis. The three biggest drivers of convenience foods were found to be possession of a color TV, possession of a microwave, and median age of the population.
Editors Note: One table of the manuscript was unable to translate into a pdf file.
This Word version of the paper contains that table though.
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Unintended Consequences of Water Legislation
Author: Shauna Yow.
Institution: Department of Agricultural Economics. Texas A&M University.
Advisors: Edward Rister and Ronald Lacewell, Texas A&M University.
Article 2.
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The population of Texas is expected to double by 2060. The Texas Lower Rio Grande Valley is one area in which alternative water sources and potable treatment methods are being sought to support a rapid population growth. An emerging and promising approach to expanding potable water supplies is brackish groundwater desalination. Due to recent technology developments in desalination membranes and increasing prices of surface water rights, the economics of desalination have become competitive with conventional treatment methods.
The seemingly comparable competitive economics relationship between conventional and desalination treatments was impacted by Floor Amendment 60 of Texas Senate Bill 3, which was an attempt to meet the increased demand for municipal water. This amendment established the price at which irrigation water in the Valley can convert to municipal water, as a result of urban/residential development of agricultural land, at 68 percent of the market price, effective January 1, 2008. Preliminary economic and financial investigations suggest this legislation could affect the adoption of water treatment technology. This paper identifies and analyzes the economic and financial implications, both intended and unintended, of Floor Amendment 60 on the Valley water market, and the associated adoption of alternative technologies for producing potable water.
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An Analysis of Repayment Among Clients of the Microfinance Institution Esperanza International, Dominican Republic
Author: Gabriela Salazar.
Institution: Cornell University.
Advisor: Calum Turvey, Cornell University.
Article 3.
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This research considers default among borrowers of Esperanza International, a microfinance institution in the Dominican Republic. Though Esperanza holds high repayment rates, it is of value to examine the 3 to 5 percent of clients that have not had success with the program. If success is defined as repayment and can be correlated with socio-economic characteristics, it may point towards the development of remedial programs and/or interventions. In coordination with organizational interests, this study examines 15,104 loans divided amongst 8,991 borrowers between April 2005 and October 2007. Default for each loan (defined as the failure to repay any quota for 120 days) is considered against gender, marital status, number of dependents, level of education, age, size of loan, type of microenterprise, and regional office. Results of a first linear regression indicate that regional office is most important among included variables. This is followed by education, gender, and marital status - with women, those with less education, and those classified as cohabitating defaulting less often. A second linear regression indicates that an alternate categorical division of microenterprise does not improve the variable’s significance. Two final regressions consider default separately among borrowers that were and were not identified as Dominican-Haitian. These results showed that Dominican-Haitians defaulted least often when widowed or married, and defaulted most often at the Santo Domingo office. Overall these results call for further investigation, particularly into dissimilarities among Esperanza’s various branches.
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Employer Demand for College Graduates with High Grades
Author: Shea Griffin.
Institution: Department of Agricultural Economics, Oklahoma State University.
Advisor: F. Bailey Norwood, Oklahoma State University.
Article 4.
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This study analyzes the preferred grade point average (GPA) that employers are looking for when hiring a college graduate. A survey was emailed to employers who recruit students from the College of Agricultural Sciences and Natural Resources at Oklahoma State University. Previous research shows that employers primarily seek soft skills in college graduates, which are difficult to assess. Studies also show that GPA scores, which are easy to assess, are correlated with soft skills, which helps employers make an estimated guess as to whom the company would desire. The survey asks employers to undergo a simulated hiring decision where they must choose between different candidates with different GPA scores and salaries. Their simulated hiring decisions provide unique insights into employers’ preferences for grades among college graduates. Surprisingly, the results show a possible, but mild preference for 3.0 over 2.5 GPA scores, and that employers prefer a 2.5 GPA over a 3.5 GPA and higher. Additionally, larger employers placed greater emphasis on high grades.
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The Profitability of Preconditioning Calves in Oklahoma Over 10 Years
Author: Myriah Johnson.
Institution: Department of Agricultural Economics, Oklahoma State University.
Advisor: F. Bailey Norwood, Oklahoma State University.
Article 5.
Editor's Note: I think Myriah's presentation was probably one of the best this year, and is a great example to show students who want to compete in the paper competition and would like to see an example presentation. It can be viewed with this AVI file.
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Cow-calf operators continually look for more profitable ways to market their cattle. Some producers precondition their weaned calves, but many still wonder if this practice is profitable. A large amount of research has been done on this topic, but results can vary according to the geographic region. The objective of this study is to determine whether or not it was profitable to precondition weaning calves in Oklahoma for the 1997-2006 time period. Bulk ingredient prices for a feed ration, Oklahoma market prices, and other data were gathered to evaluate the revenues and expenses for preconditioning in Oklahoma during 1997-2006. Findings showed it was profitable to precondition calves in Oklahoma in nine out of the ten years studied.
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Expansion of Ethanol Demand: Economic Implications for Indiana Corn Producers
Author: Matthew Erickson.
Institution: Department of Agricultural Economics, Purdue University.
Advisor: Marshall Martin, Purdue University.
Article 6.
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The United States significantly depends on petroleum imports. To reduce this reliance on foreign oil, ethanol production is increasing. Ethanol is a renewable fuel that can be derived from corn. In 2007, total corn acres planted in the United States were a record 92.9 million acres, a 19% increase from 2006. This research analyzed farmers’ perceptions and crop management adjustments in response to increased ethanol demand.
A survey was mailed to 2000 Indiana farmers in August 2007. The objectives of the survey were to analyze farmers’ yield experiences from a continuous corn rotation, a corn/soybean rotation, and a corn/corn/soybean rotation plus compare their reported yields to agronomic university research results. Farmer’s responses indicate no statistically significant difference in corn yields between the three rotations, while university research indicates otherwise with lower yields for corn following corn as well as continuous corn relative to a traditional corn/soybean rotation. Respondents with higher gross incomes were responsible for most of the increase in corn acres in 2007. It was further found that mid-career farmers were more likely to increase corn acres in response to the increased demand. However, educational attainment did not appear to influence acreage adjustments or yields.
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The Relationship between Board Compensation and the Firm Value of the Farm Credit System
Author: Chris Rodgers.
Institution: Department of Food and Resource Economics, University of Florida.
Advisor: Michael Gunderson, University of Florida.
Article 7.
Editor's Note: The author and advisor graciously allowed me to post the data used in this paper for teaching purposes.
This particular paper is a great example of how a simple regression analysis can aid practical decision-making. Additionally, the author allowed me to videotape his presentation at the AAEA meetings. This presentation can be seen by downloading
this AVI file.
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This project analyzed 82 annual financial reports (2006) of Agricultural Credit Associations which create the branches of Farm Credit Services. The goal of this research is to determine the impact additional board members and their level of compensation have on the effectiveness of ACA’s. The data collected shows evidence that a positive linear relationship between the compensation of the board of directors and the overall productivity of each firm exists. The results are based on the comparison of company assets, return on assets, liabilities, owner’s equity, return on equity, net income and total loans. These factors have been compared to the number of board meetings per year, the compensation of board members, and the size of the cooperative board. The key components in proving the hypothesis were board compensation, board size, total loans, and gender. A large percent of the associations follow the null hypothesis, which was first thought to be that there would be some connection between finances and board of director compensation.
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