Risk, Incentives and Coordination Costs in Agro-Food Chains in the Presence of Futures Markets

This thesis focuses on developing conceptual models to examine the role of futures markets for risk-shifting, incentives and coordination costs in the context of commodity marketing channels. The empirical analysis is conducted for different marketing channel structures (two-stage and three-stage marketing channels) and for different situations regarding the availability of a futures market ( i.e ., with and without futures markets). The conceptual models have been applied to the Dutch potato marketing channel.We model and empirically examine incentives, coordination costs, and risk-shifting i... Mehr ...