The Value of Third-Party Certification of Preconditioning Claims at Iowa Feeder Cattle Auctions
| dc.contributor.author | Bulut, Harun | |
| dc.contributor.author | Lawrence, John | |
| dc.contributor.department | Department of Economics (LAS) | |
| dc.date | 2018-02-18T03:01:09.000 | |
| dc.date.accessioned | 2020-06-30T02:07:27Z | |
| dc.date.available | 2020-06-30T02:07:27Z | |
| dc.date.copyright | Mon Jan 01 00:00:00 UTC 2007 | |
| dc.date.issued | 2007-01-01 | |
| dc.description.abstract | <p>After controlling a variety of feeder cattle characteristics and market and sale conditions in Iowa feeder auctions, the price premiums for preconditioning claims (vaccinations and minimum 30 days of weaning) with and without third-party certification (TPC) are estimated as $6.12/cwt and $3.35/cwt, respectively. These premiums differ statistically (p < 0.0001), and their difference exceeds the average participation cost of TPC ($l/cwt). This indicates that TPC is valued in the market to credibly signal preconditioning investment under asymmetric information.</p> | |
| dc.description.comments | <p>This is an article from <em>Journal of Agricultural and Applied Economics</em> 39 (2007): 625, doi: <a href="http://dx.doi.org/10.1017/S1074070800023312" target="_blank">10.1017/S1074070800023312</a>. Posted with permission.</p> | |
| dc.format.mimetype | application/pdf | |
| dc.identifier | archive/lib.dr.iastate.edu/econ_las_pubs/479/ | |
| dc.identifier.articleid | 1482 | |
| dc.identifier.contextkey | 9490697 | |
| dc.identifier.s3bucket | isulib-bepress-aws-west | |
| dc.identifier.submissionpath | econ_las_pubs/479 | |
| dc.identifier.uri | https://dr.lib.iastate.edu/handle/20.500.12876/21698 | |
| dc.language.iso | en | |
| dc.source.bitstream | archive/lib.dr.iastate.edu/econ_las_pubs/479/2007_Lawrence_ValueThird.pdf|||Sat Jan 15 00:26:27 UTC 2022 | |
| dc.source.uri | 10.1017/S1074070800023312 | |
| dc.subject.disciplines | Agricultural Economics | |
| dc.subject.disciplines | Meat Science | |
| dc.subject.disciplines | Other Economics | |
| dc.subject.keywords | asymmetric information | |
| dc.subject.keywords | feeder cattle auctions | |
| dc.subject.keywords | quality | |
| dc.subject.keywords | signalling | |
| dc.subject.keywords | third-party certification | |
| dc.title | The Value of Third-Party Certification of Preconditioning Claims at Iowa Feeder Cattle Auctions | |
| dc.type | article | |
| dc.type.genre | article | |
| dspace.entity.type | Publication | |
| relation.isAuthorOfPublication | e1250d2e-b627-4fa9-b26b-252c2b257ef9 | |
| relation.isOrgUnitOfPublication | 4c5aa914-a84a-4951-ab5f-3f60f4b65b3d |
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