In this paper, we aim to model the vertical relation between retailers and suppliers in the food ... more In this paper, we aim to model the vertical relation between retailers and suppliers in the food industry whereby retailers exercise seller power in their relation with consumers and buyer power in their relation with producers. We then evaluate the degree of price transmission, relative to the perfectly competitive benchmark, from the farm to the retail sector assuming a supply
In this paper, we aim to model the vertical relation between retailers and suppliers in the food ... more In this paper, we aim to model the vertical relation between retailers and suppliers in the food industry whereby retailers exercise seller power in their relation with consumers and buyer power in their relation with producers. We then evaluate the degree of price transmission, relative to the perfectly competitive benchmark, from the farm to the retail sector assuming a supply
We consider the impact of output and input taxes in vertically-related markets where the downstre... more We consider the impact of output and input taxes in vertically-related markets where the downstream industry is oligopolistic and the upstream sector competitive. We show that the shifting of a tax in each related market will depend on the degree of market power in the downstream market, the characteristics of the demand function, the nature of the production technology characterising
ABSTRACT Purpose ‐ The purpose of this paper is to develop a theoretical model of price transmiss... more ABSTRACT Purpose ‐ The purpose of this paper is to develop a theoretical model of price transmission from the farm to the retail sector, allowing not only for an interaction between oligopoly power, oligopsony power and non-constant returns to scale in industry technology, but also allowing for the market power conduct parameters to vary in response to an industry-wide exogenous shock. Also, the degree of price transmission under imperfect competition relative to that under perfect competition is evaluated. Design/methodology/approach ‐ Conjectural variations are used to parameterize both seller and buyer market power conduct of the industry and then the equilibrium displacement approach is applied to solve a system of six structural equations which describe the demand for and supply of industry retail output and farm and marketing inputs. Findings ‐ First, it is found that given empirical values of retail output demand elasticity, of farm and marketing inputs supply elasticities, of market power conducts, and of the returns to scale measure, the degree of price transmission under imperfect competition is greater than that under perfect competition. Second, it is found that the relative degree of price transmission under imperfect competition could be greater or smaller under the assumption of a varying market power conduct than one under the alternative assumption of a constant market power conduct, depending on whether market conduct is falling or rising, respectively. Originality/value ‐ The paper makes two original contributions to the literature. First, it allows for an interaction between oligopoly power, oligopsony power and industry technology. Second, it allows both oligopoly and oligopsony power parameters to vary in response to industry-wide exogenous shocks.
This study assesses the responsiveness of peasant farmers to price and non-price factors using a ... more This study assesses the responsiveness of peasant farmers to price and non-price factors using a farm-level survey data from Ethiopia, and the extent to which responsiveness varies with agro-ecology and farming systems.
ABSTRACT This paper presents a theoretical derivation of aggregate supply elasticities from the r... more ABSTRACT This paper presents a theoretical derivation of aggregate supply elasticities from the relevant input demand elasticities. By way of illustration, an estimate of the aggregate supply elasticity with respect to product price for United Kingdom agriculture is calculated. In addition, the paper investigates the supply function that is implied by input demand functions which contain a geometrically declining lag distribution. The paper concludes by suggesting that the indirect estimation of aggregate supply elasticities may well be preferable to direct estimation of the elasticities.
ABSTRACT Because of the many uses of price indices it is important that they be corrected for qua... more ABSTRACT Because of the many uses of price indices it is important that they be corrected for quality change. This paper presents a regression approach to the problem of extracting the influences of quality change on price and a price index for new farm tractors is calculated which allows for the considerable, post-war, quality improvements in the input. The results indicate that whilst the average price of tractors has risen rapidly over the post-war period, the true (constant quality) price has shown only a small increase. Some implications of these results are put forward—particularly with regard to the measurement of gross investment and capital stock, and to the importance of input quality change in explaining increasing agricultural productivity over time. Finally, firm level decision making leads to the observed changes over time in the quality demanded of an input: some consideration is given to the place of factor quality selection in firm theory.
... Econometric Considerations The direction of policy modelling will undoubtedly be influenced b... more ... Econometric Considerations The direction of policy modelling will undoubtedly be influenced by developments in econometrics. However 'econometricians are divided as to Page 11. QUANTITATIVE POLICY MODELLING IN AGRICULTURAL ECONOMICS 17 1 ...
Using farm-level survey data from Ethiopia, this paper estimates a quadratic restricted profit fu... more Using farm-level survey data from Ethiopia, this paper estimates a quadratic restricted profit function to assess the supply response of smallholder farmers. All major crops are identified in the analysis and variations in agro-climatic and farming systems are accounted for. Peasant farmers, at least in the more commercial Central and Southern zones, do respond positively and significantly to price incentives. Farmers in the Northern zone are least commercial and least responsive to prices, and in fact the model based on profit maximisation does not adequately capture their behaviour. In general, non-price factors, especially rainfall and market access, are more important than prices in affecting production, and which factors are most important varies depending on the crop and region in question. We conclude with suggestions regarding which crops appear most suitable to each agro-climatic region, and identify the most relevant policy interventions in each case.
... A less welldocumented anomaly relates to evidence on cointegration between spot and for wardr... more ... A less welldocumented anomaly relates to evidence on cointegration between spot and for wardrates. ... DATA AND PRELIMINARY ANALYSIS Market efficiency is based on the principle that asset prices ... Since the URFH is effectively a test of the joint assumptions of risk neutrality ...
Abstract Although agricultural futures markets offer a number of potential benefits to users, the... more Abstract Although agricultural futures markets offer a number of potential benefits to users, the extent of trade involvemen in UK futures markets has been less than in comparable markets in the United States. This does not appear to be due to poorer hedging ...
Jnci Journal of the National Cancer Institute, Jul 1, 1985
Activated killer cells are generated by the incubation of peripheral blood mononuclear leukocytes... more Activated killer cells are generated by the incubation of peripheral blood mononuclear leukocytes (PBL) in the lymphokine interleukin 2 (IL-2). Unseparated populations of these lymphokine-activated killer (LAK) cells lyse a variety of fresh noncultured human tumor targets, but they do not kill normal PBL. This study analyzed the generation and lytic specificity of LAK cell clones. Of 49 (84%) clones isolated by limiting-dilution techniques from a whole population of LAK cells, 41 manifested significant LAK cell activity. LAK cell clones had varied cell surface phenotypes. Clones with high and intermediate LAK cell activity were Leu 2+3-4+7-DR+Tac+ and Leu 2-3+4+7-DR+Tac+, respectively. Single LAK cell clones lysed multiple fresh human tumor targets including autologous sarcoma, 5 allogeneic sarcomas, and a colon cancer in addition to the cultured cell line K562. Autologous PBL were not lysed. Tumor targets were each lysed by multiple LAK cell clones. Sixteen subclones were derived from 5 of these LAK cell clones. These subclones had 99% or greater probability of being derived from a single cell. These subclones also exhibited lysis of multiple tumor targets. These findings suggest the existence of a shared determinant, expressed by multiple human tumors, which is recognized in common by multiple LAK cell clones.
Journal of Immunotherapy With Emphasis on Tumor Immunology Official Journal of the Society For Biological Therapy, Feb 1, 1994
Patients (n = 22) with metastatic or unresectable colorectal carcinoma were treated with interleu... more Patients (n = 22) with metastatic or unresectable colorectal carcinoma were treated with interleukin (IL)-2 and lymphokine-activated killer (LAK) cells in a phase II study conducted by the IL-2/LAK Working Group (ILWG). Eligibility criteria for the study included bi-dimensionally measurable disease, performance status 0 or 1, and normal function of all vital organs. The median age of patients was 49 (range, 28-61) years. Eight (36%) patients had never received prior treatment other than their initial surgery; eight (36%) had received prior radiotherapy, and 12 (55%) chemotherapy. No patients had received prior immunotherapy. Treatment consisted of IL-2, 600,000 IU/kg administered by 15-min intravenous infusion every 8 h on days 1-5 and 12-16. Patients underwent 4-h leukapheresis on days 8-12, and cells were placed in in vitro culture with IL-2 for 3-4 days and the activated LAK cells were infused over 1 h on days 12, 13, and 15. All doses of IL-2 and LAK cells were administered to patients in intensive care unit (ICU) settings. The mean +/- SD number of IL-2 doses administered during days 1-5 was 13.4 +/- 1.2, the mean number of LAK cells reinfused was 6.8 +/- 2.2 x 10(10), and the mean number of IL-2 doses administered during the last phase was 9.8 +/- 2.5. Nineteen patients completed the IL-2 priming phase and received at least one LAK cell infusion.(ABSTRACT TRUNCATED AT 250 WORDS)
We conducted a one-year prospective survey to identify adverse outcomes due to error during care ... more We conducted a one-year prospective survey to identify adverse outcomes due to error during care in the field of general surgery. We identified 36 such cases among 5612 surgical admissions to the Peter Bent Brigham Hospital, but in 23 cases the initiating mishap had occurred in another hospital before transfer. In two thirds of the cases the mishap was due to an error of commission: an unnecessary, defective or inappropriate operative procedure. Twenty of these patients died in the hospital, and in 11 death was directly attributable to the error. Five of the 16 survivors left the hospital with serious physical impairment. A satisfactory outcome was achieved in only 11 cases (31%). The average hospital stay was 42 days, with the duration ranging from one to 325 days; the total cost for the 36 patients was $1,732,432. We suggest that all hospitals develop comprehensive methods to identify and prevent these costly and unnecessary events.
Economic Liberalisation in New Zealand, by Alan Bollard and Robert Buckle (eds.) (Wellington: All... more Economic Liberalisation in New Zealand, by Alan Bollard and Robert Buckle (eds.) (Wellington: Allen and Unwin, with the Port Nicholson Press, 1987), Pp.vii + 364.Economics and Health 1985: Proceedings of the Seventh Australian Conference of Health Economists, by J.R.G. Butler and D.P. Doessel (eds.) (Sydney: School of Health Administration, University of N.S.W., 1986), A$10.An Introduction to Development Economics, by Subra
In this paper, we aim to model the vertical relation between retailers and suppliers in the food ... more In this paper, we aim to model the vertical relation between retailers and suppliers in the food industry whereby retailers exercise seller power in their relation with consumers and buyer power in their relation with producers. We then evaluate the degree of price transmission, relative to the perfectly competitive benchmark, from the farm to the retail sector assuming a supply
In this paper, we aim to model the vertical relation between retailers and suppliers in the food ... more In this paper, we aim to model the vertical relation between retailers and suppliers in the food industry whereby retailers exercise seller power in their relation with consumers and buyer power in their relation with producers. We then evaluate the degree of price transmission, relative to the perfectly competitive benchmark, from the farm to the retail sector assuming a supply
We consider the impact of output and input taxes in vertically-related markets where the downstre... more We consider the impact of output and input taxes in vertically-related markets where the downstream industry is oligopolistic and the upstream sector competitive. We show that the shifting of a tax in each related market will depend on the degree of market power in the downstream market, the characteristics of the demand function, the nature of the production technology characterising
ABSTRACT Purpose ‐ The purpose of this paper is to develop a theoretical model of price transmiss... more ABSTRACT Purpose ‐ The purpose of this paper is to develop a theoretical model of price transmission from the farm to the retail sector, allowing not only for an interaction between oligopoly power, oligopsony power and non-constant returns to scale in industry technology, but also allowing for the market power conduct parameters to vary in response to an industry-wide exogenous shock. Also, the degree of price transmission under imperfect competition relative to that under perfect competition is evaluated. Design/methodology/approach ‐ Conjectural variations are used to parameterize both seller and buyer market power conduct of the industry and then the equilibrium displacement approach is applied to solve a system of six structural equations which describe the demand for and supply of industry retail output and farm and marketing inputs. Findings ‐ First, it is found that given empirical values of retail output demand elasticity, of farm and marketing inputs supply elasticities, of market power conducts, and of the returns to scale measure, the degree of price transmission under imperfect competition is greater than that under perfect competition. Second, it is found that the relative degree of price transmission under imperfect competition could be greater or smaller under the assumption of a varying market power conduct than one under the alternative assumption of a constant market power conduct, depending on whether market conduct is falling or rising, respectively. Originality/value ‐ The paper makes two original contributions to the literature. First, it allows for an interaction between oligopoly power, oligopsony power and industry technology. Second, it allows both oligopoly and oligopsony power parameters to vary in response to industry-wide exogenous shocks.
This study assesses the responsiveness of peasant farmers to price and non-price factors using a ... more This study assesses the responsiveness of peasant farmers to price and non-price factors using a farm-level survey data from Ethiopia, and the extent to which responsiveness varies with agro-ecology and farming systems.
ABSTRACT This paper presents a theoretical derivation of aggregate supply elasticities from the r... more ABSTRACT This paper presents a theoretical derivation of aggregate supply elasticities from the relevant input demand elasticities. By way of illustration, an estimate of the aggregate supply elasticity with respect to product price for United Kingdom agriculture is calculated. In addition, the paper investigates the supply function that is implied by input demand functions which contain a geometrically declining lag distribution. The paper concludes by suggesting that the indirect estimation of aggregate supply elasticities may well be preferable to direct estimation of the elasticities.
ABSTRACT Because of the many uses of price indices it is important that they be corrected for qua... more ABSTRACT Because of the many uses of price indices it is important that they be corrected for quality change. This paper presents a regression approach to the problem of extracting the influences of quality change on price and a price index for new farm tractors is calculated which allows for the considerable, post-war, quality improvements in the input. The results indicate that whilst the average price of tractors has risen rapidly over the post-war period, the true (constant quality) price has shown only a small increase. Some implications of these results are put forward—particularly with regard to the measurement of gross investment and capital stock, and to the importance of input quality change in explaining increasing agricultural productivity over time. Finally, firm level decision making leads to the observed changes over time in the quality demanded of an input: some consideration is given to the place of factor quality selection in firm theory.
... Econometric Considerations The direction of policy modelling will undoubtedly be influenced b... more ... Econometric Considerations The direction of policy modelling will undoubtedly be influenced by developments in econometrics. However 'econometricians are divided as to Page 11. QUANTITATIVE POLICY MODELLING IN AGRICULTURAL ECONOMICS 17 1 ...
Using farm-level survey data from Ethiopia, this paper estimates a quadratic restricted profit fu... more Using farm-level survey data from Ethiopia, this paper estimates a quadratic restricted profit function to assess the supply response of smallholder farmers. All major crops are identified in the analysis and variations in agro-climatic and farming systems are accounted for. Peasant farmers, at least in the more commercial Central and Southern zones, do respond positively and significantly to price incentives. Farmers in the Northern zone are least commercial and least responsive to prices, and in fact the model based on profit maximisation does not adequately capture their behaviour. In general, non-price factors, especially rainfall and market access, are more important than prices in affecting production, and which factors are most important varies depending on the crop and region in question. We conclude with suggestions regarding which crops appear most suitable to each agro-climatic region, and identify the most relevant policy interventions in each case.
... A less welldocumented anomaly relates to evidence on cointegration between spot and for wardr... more ... A less welldocumented anomaly relates to evidence on cointegration between spot and for wardrates. ... DATA AND PRELIMINARY ANALYSIS Market efficiency is based on the principle that asset prices ... Since the URFH is effectively a test of the joint assumptions of risk neutrality ...
Abstract Although agricultural futures markets offer a number of potential benefits to users, the... more Abstract Although agricultural futures markets offer a number of potential benefits to users, the extent of trade involvemen in UK futures markets has been less than in comparable markets in the United States. This does not appear to be due to poorer hedging ...
Jnci Journal of the National Cancer Institute, Jul 1, 1985
Activated killer cells are generated by the incubation of peripheral blood mononuclear leukocytes... more Activated killer cells are generated by the incubation of peripheral blood mononuclear leukocytes (PBL) in the lymphokine interleukin 2 (IL-2). Unseparated populations of these lymphokine-activated killer (LAK) cells lyse a variety of fresh noncultured human tumor targets, but they do not kill normal PBL. This study analyzed the generation and lytic specificity of LAK cell clones. Of 49 (84%) clones isolated by limiting-dilution techniques from a whole population of LAK cells, 41 manifested significant LAK cell activity. LAK cell clones had varied cell surface phenotypes. Clones with high and intermediate LAK cell activity were Leu 2+3-4+7-DR+Tac+ and Leu 2-3+4+7-DR+Tac+, respectively. Single LAK cell clones lysed multiple fresh human tumor targets including autologous sarcoma, 5 allogeneic sarcomas, and a colon cancer in addition to the cultured cell line K562. Autologous PBL were not lysed. Tumor targets were each lysed by multiple LAK cell clones. Sixteen subclones were derived from 5 of these LAK cell clones. These subclones had 99% or greater probability of being derived from a single cell. These subclones also exhibited lysis of multiple tumor targets. These findings suggest the existence of a shared determinant, expressed by multiple human tumors, which is recognized in common by multiple LAK cell clones.
Journal of Immunotherapy With Emphasis on Tumor Immunology Official Journal of the Society For Biological Therapy, Feb 1, 1994
Patients (n = 22) with metastatic or unresectable colorectal carcinoma were treated with interleu... more Patients (n = 22) with metastatic or unresectable colorectal carcinoma were treated with interleukin (IL)-2 and lymphokine-activated killer (LAK) cells in a phase II study conducted by the IL-2/LAK Working Group (ILWG). Eligibility criteria for the study included bi-dimensionally measurable disease, performance status 0 or 1, and normal function of all vital organs. The median age of patients was 49 (range, 28-61) years. Eight (36%) patients had never received prior treatment other than their initial surgery; eight (36%) had received prior radiotherapy, and 12 (55%) chemotherapy. No patients had received prior immunotherapy. Treatment consisted of IL-2, 600,000 IU/kg administered by 15-min intravenous infusion every 8 h on days 1-5 and 12-16. Patients underwent 4-h leukapheresis on days 8-12, and cells were placed in in vitro culture with IL-2 for 3-4 days and the activated LAK cells were infused over 1 h on days 12, 13, and 15. All doses of IL-2 and LAK cells were administered to patients in intensive care unit (ICU) settings. The mean +/- SD number of IL-2 doses administered during days 1-5 was 13.4 +/- 1.2, the mean number of LAK cells reinfused was 6.8 +/- 2.2 x 10(10), and the mean number of IL-2 doses administered during the last phase was 9.8 +/- 2.5. Nineteen patients completed the IL-2 priming phase and received at least one LAK cell infusion.(ABSTRACT TRUNCATED AT 250 WORDS)
We conducted a one-year prospective survey to identify adverse outcomes due to error during care ... more We conducted a one-year prospective survey to identify adverse outcomes due to error during care in the field of general surgery. We identified 36 such cases among 5612 surgical admissions to the Peter Bent Brigham Hospital, but in 23 cases the initiating mishap had occurred in another hospital before transfer. In two thirds of the cases the mishap was due to an error of commission: an unnecessary, defective or inappropriate operative procedure. Twenty of these patients died in the hospital, and in 11 death was directly attributable to the error. Five of the 16 survivors left the hospital with serious physical impairment. A satisfactory outcome was achieved in only 11 cases (31%). The average hospital stay was 42 days, with the duration ranging from one to 325 days; the total cost for the 36 patients was $1,732,432. We suggest that all hospitals develop comprehensive methods to identify and prevent these costly and unnecessary events.
Economic Liberalisation in New Zealand, by Alan Bollard and Robert Buckle (eds.) (Wellington: All... more Economic Liberalisation in New Zealand, by Alan Bollard and Robert Buckle (eds.) (Wellington: Allen and Unwin, with the Port Nicholson Press, 1987), Pp.vii + 364.Economics and Health 1985: Proceedings of the Seventh Australian Conference of Health Economists, by J.R.G. Butler and D.P. Doessel (eds.) (Sydney: School of Health Administration, University of N.S.W., 1986), A$10.An Introduction to Development Economics, by Subra
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Papers by Anthony Rayner