Agricultural Marketing and Price Analysis

by Norwood, Bailey; Lusk, Jayson

• ISBN13: 9780132211215
• ISBN10: 0132211211
• Edition: 1st
• Format: Paperback
• Copyright: 2007-11-06
• Publisher: Pearson

Summary

As refreshing as its tone is the innovative approach this book takes to economic theory and agricultural marketing strategies. This book offers versatility by covering a wide range of topics that include both traditional economic theory and organizational economics. Novice readers will gravitate to the inviting writing style and colorful examples. All in a single source, readers will find contemporary treatment of economics and price analysis, agricultural prices and markets, agribusiness marketing strategies and more! Covers a wide array of topics not usually found in a single source such as supply and demand, market structures, use of elasticities, the food marketing channel, empirical price analysis, trade, tacit collusion, price leadership, creative price setting schemes, consumer surveys, experimental auctions and conjoint analysis. Offers more solid treatment of economic theorythan many competing titles. Discusses agricultural marketing strategies at the firm management level.Those looking for a new approach to agricultural price analysis, understanding of agricultural market structures, and agricultural marketing strategies.

Author Biography

Bailey Norwood

 

            Bailey Norwood grew up in the Low Country of South Carolina breaking horses, losing money by entering roping and bareback riding rodeo events, working on farms, hunting, fishing, and all the normal South Carolina activities.  His interest in agriculture and the persistence of his parents led him to enroll at Clemson University where he majored in agricultural economics.  Inspired by brilliant and enthusiastic teachers, Bailey decided that he too wanted to become a professor of agricultural economics.

            The pursuit of this dream saw him through Kansas State University where he received a Masters’ Degree in Agricultural Economics, and North Carolina State University where he earned a Ph.D. in Economics.  Professor Norwood is now an assistant professor at Oklahoma State University, where he enjoys teaching and advising a large number of agricultural economics students.  Teaching is his number one passion, and Dr. Norwood is known for hosting creative and entertaining lectures.  His unique and effective teaching style has earned him two national teaching awards in only four years of teaching.

            While educating students is Professor Norwood’s first priority, his resume shows an outstanding track record in research as well.  Publishing over 17 articles in scientific journals, Dr. Norwood has also received the Outstanding Journal Article one of the profession’s highest rated journals.  Like teaching, Bailey has demonstrated a proficiency at researching diverse subjects.  His research articles encompass agricultural production, statistical methodology, environmental economics, agricultural policy, and product marketing.

            Professor Norwood has thoroughly enjoyed writing this textbook, and wishes the students the best of luck in their studies and career!

 

Jayson Lusk

 

            Jayson Lusk is Professor and Willard Sparks Endowed Chair in the Department of Agricultural Economics at Oklahoma State University.  Prior to arriving at Oklahoma State, Lusk was an assistant professor in the Department of Agricultural Economics at Mississippi State University and an associate professor in the Department of Agricultural Economics at Purdue University. Dr. Lusk has a Ph.D. in Agricultural Economics from Kansas State University and a B.S. in Food Technology from Texas Tech University, where he was named Outstanding Student in the College of Agricultural and Life Sciences in 1997. At Kansas State, Dr. Lusk was a USDA National Needs Fellow and was awarded the Gamma Sigma Delta Outstanding Dissertation Award in 2000.  Dr. Lusk is originally from the Texas Panhandle, where he spent his summers working on local cotton farms.

            Lusk conducts research primarily related to consumer behavior and decision making, food marketing and policy, and non-market valuation.  Since 2001, Lusk has published more than 50 articles in peer reviewed journals, has won several published research awards,and has received in excess of $2 million in external grants to support his research.  Lusk currently serves as associate editor for the American Journal of Agricultural Economics and the Journal of Agricultural and Food Industrial Organization and is past chair of the American Agricultural Economics Association’s Food and Agricultural Marketing Policy Section.  Lusk teaches a graduate level course in primary data collection and analysis and is the author of book on experimental auctions published by Cambridge University Press.   

 

Table of Contents

Welcome to Economics and Price Analysis	p. 1
About Economics	p. 1
Basic Price Analysis: Supply and Demand	p. 37
Advanced Price Analysis: Mastering Supply and Demand	p. 65
Advanced Price Analysis: Imperfect Competition	p. 96
Understanding Agricultural Prices and Markets	p. 119
Agricultural Prices	p. 119
The Food Marketing Channel	p. 143
Empirical Agricultural Price Analysis	p. 183
International Agricultural Trade	p. 219
Agribusiness Marketing Strategies	p. 252
Managing Price Through Futures Markets	p. 252
Strategic Price Setting	p. 279
Creative Pricing Schemes	p. 307
Consumer Behavior and Research	p. 329
Additional Topics	p. 373
The Firm as a Price Taker	p. 373
Agriculture and Society	p. 393
References	p. 407
Answers to End-of-Chapter Crossword Puzzles and Study Questions	p. 413
Index	p. 443
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