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Aug. 27, 2018

UC Davis Department of Agricultural and Resource Economics (ARE) Professor Jeffrey Williams was awarded the Agricultural & Applied Economics Association (AAEA) Publication of Enduring Quality Award for Storage and Commodity Markets, co-authored with UC Berkeley ARE Professor Brian Wright.

Abstract

Storage and Commodity Markets is primarily a work of economic theory, concerned with how the capability to store a surplus affects the prices and production of commodities. Its focus on the behavior, over time, of aggregate stockpiles provides insights into such questions as how much a country should store out of its current supply of food considering the uncertainty in future harvests. Related topics covered include whether storage or international trade is a more effective buffer and whether stockpiles are more useful in raw or processed form. Several chapters are devoted to analyzing such government programs as price bands, buffer stocks, and strategic reserves; other chapters deal with the statistical properties imparted by storage.

Click here to access the book.

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