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An Empirical Analysis of the Determinants of Marketing Contract Structures for Corn and Soybeans

机译:玉米和大豆销售合同结构决定因素的实证分析

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摘要

Contracts serve as coordination mechanisms which allocate value, risk, and decision rights across buyers and sellers. The use of marketing contracts in agriculture, specifically for crop production, has been increasing over the past decade. This study investigates the determinants of agricultural marketing contract design employing data from the USDA\u27s Agricultural Resource Management Survey. Models are estimated to analyze the association between producer and contractor characteristics, the decision to produce under contract, and the types of contract structures observed in practice, while controlling for the potential for endogenous matching between contracting parties. Results indicate that while certain producer characteristics are significantly associated with the decision to produce corn or soybeans under contract, there is no significant association between those characteristics and specific contract attributes.
机译:合同是一种协调机制,可以在买卖双方之间分配价值,风险和决策权。在过去十年中,在农业中,特别是用于农作物生产的销售合同的使用一直在增加。本研究利用美国农业部农业资源管理调查的数据,调查了农业营销合同设计的决定因素。对模型进行了估计,以分析生产者和承包商特征之间的关联,根据合同进行生产的决策以及实践中观察到的合同结构的类型,同时控制缔约方之间内生匹配的可能性。结果表明,虽然某些生产者特征与合同规定的生产玉米或大豆的决定显着相关,但这些特征与特定合同属性之间没有显着关联。

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