Friday, February 23, 2024 - Dr. Chris Boyer, University of Tennessee
Friday, February 23, 2024 - 10:30 A.M. MCCA 1151 Dr. Chris Boyer, University of Tennessee
Bio: Chris Boyer is a Professor and Assistant Department Head in the Department of Agricultural and Resource Economics at the University of Tennessee. Dr. Boyer’s research can be generally described as farm business management with a specific focus on helping producers increase their profits or help manage risk. The goal of his research program is to enhance the long-term economic sustainability of farm businesses in Tennessee and across the United States. He has authored 112 refereed journal articles and collaborated on grants totaling $42.6 million. His research is frequently appearing in various popular press outlets such as BEEF, Farm Press, Farm Progress, Progressive Farm, Southern Ag Today, Crop & Soils Magazine, and Progressive Forages. Dr. Boyer also teaches courses on data analytics in agriculture, farm business management, and real estate appraisal. Dr. Boyer holds a bachelors in Agribusiness and master’s in Agricultural Economics from Texas A&M University and PhD in Agricultural Economics from Oklahoma State University. Dr. Boyer was hired in the Department of Agricultural and Resource Economics at the University of Tennessee in 2012.
Understanding Cattle Producers Insurance Take-Up Decision: Evidence from the Field
Livestock Risk Protection (LRP) is an government-sponsored insurance product cattle producers can use to protect against price declines. It function like other agricultural insurance products, but LRP is unique in how it is offered to producers. The product is offered daily instead of annually, and producers select a varying insurance period. Combining these differences with the numerous coverage levels a producer can select from, the decision-making process for selecting a LRP policy can be complicated. This could lead to overvaluing less critical information about the policy and undervaluing critical information in making an informed decision. Therefore, we set out to understand what information producers are using when purchasing a cattle price insurance policy that mimics LRP and determine how information can impact this decision. We conducted a laboratory-in-the-field study with beef cattle producers and a laboratory study with students. A multiple period incentivized experimental design was developed to determine if an information intervention could shift participants use of LRP as well as how randomly drawn prices from period-to-period could influence purchasing. We also utilized eye tracking technology in the field and lab experiment. We identify that cattle producers with high-price salient behavior show recency bias and over-extrapolate from recent high-price events reducing their demand for insurance coverage. That is, when prices are high in the previous period, they are less likely to buy insurance in the next period. We also find that those who are randomly buying insurance are performing worse than those who steadily purchase insurance each year.
Wednesday, February 28th, 2024 - Dr. Diane Schanzenbach, University of Florida
Wednesday, February 28th, 2024 at 10:30 AM in MCCA 1151. Dr. Diane Schanzenbach, University of Florida, Senior Advisor to the President for Academic Excellence
Title: What We’ve Learned from the COVID Nutrition Assistance Reforms (A Medley of My Recent Papers)
Abstract: During the COVID pandemic, unprecedented reforms were made to SNAP that more than doubled program spending and increased benefits most for the highest-income SNAP recipients. Another new program, Pandemic EBT, was launched to replace the value of missed free or reduced-price school meals. These programs both reduced food insufficiency, and improved a range of additional household outcomes. I also track their impacts on spending and program participation.
Diane Whitmore Schanzenbach is an economist who studies poverty and the policies aimed at alleviating it, with special attention to the Supplemental Nutrition Assistance Program (SNAP) and food insecurity. Her work on SNAP has been published in leading economics journals including the American Economic Review, American Economic Journal—Applied Economics, Review of Economics and Statistics, and Brookings Papers on Economic Activity. She has testified before both the U.S. House of Representatives and the Senate on SNAP and food insecurity and is widely cited in the media on these topics. She holds a Ph.D. from Princeton and is currently Senior Advisor to the President for Academic Excellence and Associate Provost at the University of Florida. She is on leave from Northwestern University where she is the Margaret Walker Alexander Professor of Education and Social Policy. She is also a Research Associate at the National Bureau of Economic Research.
Thursday, April 4, 2024 - Dr. Channing Arndt, IFPRI
Thursday, April 4, 2024 - 10:30 A.M. MCCA 1151 Dr. Channing Arndt, Deputy Director General of the International Food Policy Research Institute
Friday, April 5, 2024 - Dr. Ted Jaenicke, Penn State University
Friday, April 5, 2024 - 10:30 A.M. MCCA 1151 Dr. Ted Jaenicke, Penn State University
Friday, April 12, 2024 - Dr. Nick Kuminoff, Arizona State University
Friday, April 12, 2024 - 10:30 A.M. MCCA 1151 Dr. Nick Kuminoff, Arizona State University