VTechWorks Repository :: Browsing by Author "Reaves, Dixie Watts"

Browsing by Author "Reaves, Dixie Watts"

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Analysis of Policies Affecting Pesticide Use in Ecuador
Yamagiwa, Takayoshi Jose II (Virginia Tech, 1998-02-05)
Nominal Rates of Protection (NPR) were calculated to quantify the degree of pesticide subsidy in Ecuador from 1991 to 1996. Equilibrium exchange rates were computed first to determine the indirect and total NPR's in addition to the direct NPR's. The computed equilibrium exchange rates from 1987 to 1996 indicated a decreasing trend in Sucre overvaluation. The direct NPR's indicated a small tax on pesticides due to a tariff and customs tax, and the indirect NPR's indicated a decreasing trend of subsidization due to the reduction in Sucre overvaluation. In sum, total NPR's indicated that the subsidy on pesticides has decreased substantially. A demand function for pesticides was estimated to quantify the effect of price distortions on pesticide demand. Due to the limited degrees of freedom, a statistically significant function was not obtained. However, pesticide price, agricultural credit, and overvaluation of the Sucre were statistically significant in influencing pesticide demand. Policy implications were drawn based on empirical results and background information. Since the agricultural profitability of small farms producing outputs for domestic consumption is most affected by the current economic liberalization, the Ecuadoran government may need to find a means for supporting the profitability of these farms to protect national agricultural productivity. Policies that aid these farmers in the adoption of inexpensive integrated pest management (IPM) technologies would help achieve this end, while reducing the environmental and health problems caused by pesticide use.
A Case Study Assessment of the Feasibility of Blended Training for Agricultural Lenders
Morris, Alicia M. (Virginia Tech, 2004-03-26)
In a globally competitive economic environment, the paradigms of traditional training will be challenged as organizations and academic institutions find cost-efficient systems to educate their clientele groups. Farm Credit of the Virginias (FCV), a one billion dollar agricultural lending institution, commissioned the study team to enhance a traditional training program in marketing and credit to be an Internet-based online educational experience. More specifically, they wanted to know if trainees, staff and interns could accelerate their learning experience in a cost-efficient manner. The study was field tested on agricultural finance and marketing classes at Virginia Tech, as well as a group of trainees, interns and existing staff at FCV. Results indicate a breakeven number of 31 trainees for the FCV online program to be cost effective versus traditional face-to-face methods. Adult trainees reduced the amount of time to become productive employees from one year to six months. Participants spent less than ten percent of their time on the job in online training. Technology, flexibility of time and location, and accelerated learning through mentorship and on-job applications were definite benefits that led to an improved educational experience. It is recommended that a concept of blended education utilizing a combination of online and traditional face-to-face components delivers the superior training experience from an economic productivity and comprehension standpoint, both in adult and academic education.
Comparisons of the Educational Outcomes from Distance Delivered versus Traditional Classroom Instruction in Principles of Microeconomics
Crouse, Tricia Lynn (Virginia Tech, 2002-10-04)
Recent advancements in the speed and availability of the Internet have catapulted distance education into the forefront of possible economic education alternatives. Distance learning courses are taught exclusively over the Internet. Economics distance courses provide alternatives for economics students to traditional classroom instruction, and also invite new students to the discipline who may not have otherwise enrolled. An increase in the number of distance courses in the economics field has sparked a debate over the ability of distance courses to provide equivalent educational outcomes as traditional in-class courses. This study evaluates educational outcomes from a traditional section and two distance sections of introductory agricultural microeconomics courses, Economics of the Food and Fiber System (AAEC 1005), taught at Virginia Tech. The study compares student learning, attitudes and interests in economics, and perceptions of instructor effectiveness between traditionally taught students and those taught through distance education. Average exam scores, and common exam questions given to students in both course types, are the measures of student learning used in this study. Attitudes and interest are measured by student survey, and perceptions of instructor effectiveness are measured by student course evaluations. A variety of statistical tests are conducted comparing distance and traditional students in order to determine the influence of delivery method on educational outcomes. Results indicate that traditional students generally obtain higher grades on tests, and have a higher opinion of course instruction than distance students, suggesting that distance education is not an equivalent educational alternative to traditional classroom instruction.
Cooperative Infrastructures for Small Water Systems: A Case Study
Young, Micki Melinda (Virginia Tech, 2002-04-04)
This case study analyzes the opportunities and potential for a cooperative structure in rural small water systems (SWS) located in Carroll County, Virginia. It is hypothesized that, by organizing as a cooperative, SWS in Virginia can obtain operational efficiency and meet the National Primary Drinking Water Standards (NPDWS) through economies of scale. Specifically, the research involves a market analysis of the factors which influence costs, operational efficiency, revenue, the exchange of technical information, operational capacities, and, thereby, the number of NPDWS violations in those participating SWS. The results of this research reveal ways in which a cooperative structure could result in efficiency and compliance gains. Results are used to develop guidelines for a conceptual cooperative structure that can be applied to SWS across rural Virginia and perhaps may have application on a broader economic and geographic scale.
Database Marketing Management Strategies for Agricultural Lenders
Wilson, Amanda Janice (Virginia Tech, 1998-04-10)
This study examines the use of databases to improve marketing techniques and customer segmentation in lending institutions. Specifically, this study examines the use of products and services by agricultural customers, and then determines the relationship between the use of those products and services with farm business characteristics. Information is also obtained on the interest rate sensitivity of the producers and correlated with farm business characteristics. The importance of technology and strategic alliances and other influences in the decision making process are determined after survey analysis. The survey was sent to producers who had some type of loan. Respondents from this study used an average of 3.2 loan products and 7.6 services for a total of 10.8 loans and services. Only 1 percent of the respondents indicated that they did not have a personal checking account. Twelve percent of the respondents indicated that they did not use a credit card. Only 16 percent of the respondents indicated that they used leasing services. Investment products did not have a high percentage of use. Thirty-three percent indicated they were using certificates of deposit, while only 21 percent indicated the use of money market funds, and 30 percent indicated the use of mutual funds. Thirty-seven percent indicated they were using IRAs. However, most of the respondents were using some form of insurance. Three-fourths of the respondents were using life insurance, while only 21 percent indicated that they did not possess disability insurance. Other services were also analyzed in this study. Only 15 percent of the respondents indicated that they were utilizing estate planning services, despite the 67 percent of respondents who were greater than age 41 and the 58 percent of respondents with greater than $500,000 in assets. Seventeen percent of the respondents were using an appraisal service. Due to the lower levels of usage for the investment products, this study focused on the relationship between farm characteristics and the investment products. This study showed that a relationship existed between farm and non-farm income with IRA usage. iii Only farm income had a relationship with money market fund usage and mutual fund usage. While, the use of estate plans was related to asset level. The analysis on interest rate sensitivity was determined by the amount an interest rate would have to decrease for a producer to switch lending institutions. The producers who were found to be less interest rate sensitive were those who had lower farm and non-farm incomes, lower asset levels, lower education levels, higher debt-to-asset ratio, and those who owned a computer. This implies that these are the more loyal customers to an institution or perhaps these producers have fewer opportunities to switch institutions. Producers in this study indicated that when selecting a lender/service provider, a competitive interest rate (76 percent of respondents) and the institution being a dependable source of credit (75 percent) was important. Knowledge of agriculture was also very important (69 percent of respondents). Internet banking and educational seminars rated as the characteristics that were least important, 3 percent and 9 percent, respectively. However, in the decision making process, lenders (69 percent of respondents), accountants (53 percent), and veterinarians (38 percent) were shown to be very important. The spouse/partner has considerable influence also on decision making. Sixty-seven percent of the respondents indicated that the spouse/partner had a considerable influence on investment decision, while sixty-one percent of the respondents indicated that the spouse/partner had a considerable influence on credit decisions. Five specific recommendations were made to the institutions following this study. These recommendations include: use of technology, institutional use of databases, use of influencers, and targeting and segmenting the marketplace.
Economic Analysis of Water Hauling for Southwest Virginia Communities
Reaves, Dixie Watts; Younos, Tamim M.; Ramsey, Kelly A. (Virginia Water Resources Research Center, 1998-11)
An Economic Evaluation of the Health and Environmental Benefits of the Integrated Pest Management Program (IPM CRSP) in the Philippines
Cuyno, Leah Marquez (Virginia Tech, 1999-04-30)
Concern about externalities associated with pesticide use in developing countries has motivated the development of integrated pest management (IPM) programs in these areas. In the Philippines, the IPM Collaborative Research Support Program (IPM CRSP) was established to specifically address the widespread misuse of pesticides in the rice-vegetable systems of Nueva Ecija, one of the major rice and onion producing regions in the country. IPM CRSP initiatives include research on the optimal use of pesticides, complementary weed control strategies, and alternative cultural and biological controls. If successful, the program should generate benefits that can be measured in economic terms. These benefits include improvements in water quality, food safety, pesticide applicator safety, and long run sustainability of pest management systems. This study was designed to measure the health and environmental benefits of the IPM CRSP in the Philippines. A survey questionnaire was administered to 176 onion farmers in five villages in Nueva Ecija to identify farm and farmer characteristics, pesticide usage, pest management practices, perceptions about pesticide hazards, awareness of IPM strategies, and willingness to adopt specific technologies being developed under the IPM CRSP. In addition, a contingent valuation survey was used to elicit farmers' willingness-to-pay to avoid risks posed by pesticides to different environmental categories. A comprehensive economic measure of the benefits of IPM CRSP was derived by 1) assessing the hazards associated with pesticide usage, 2) providing an ex ante measure of program impacts on pesticide usage, 3) predicting IPM adoption rates, and 4) estimating society's willingness-to-pay to avoid the health and environmental risks from pesticides under Philippine conditions. A measure of the amount of risks avoided as a result of IPM CRSP adoption was combined with farmers' willingness to pay bids for risk avoidance to derive a monetary value of the program benefits. The estimated economic benefits of the IPM CRSP to farmer residents in 5 villages in Nueva Ecija amount to 230,912.00 pesos for one onion season.
The Economic Impact of Investment in the Food Processing Industry in US Rural Counties: The Case of Scott County, Virginia
Tanellari, Eftila (Virginia Tech, 2005-02-24)
This thesis examines the economic impact of two alternative canning plant sizes in Scott County, Virginia. The impacts of a community cannery as well as a commercial cannery are analyzed with respect to changes in output, employment, and income. Several uses for the commercial cannery are considered, such as specialization in different product categories. In both cases, an input-output model is used to evaluate the effects of the operation of the cannery in the county. The results indicate that the impact of the commercial cannery is significantly larger than the community cannery. Specialization of the commercial cannery in the Canned Specialties sector has the largest impact with respect to industry output and labor income while specialization in the Sausages and Other Prepared Meats sector has the largest impact with respect to employment.
The Effects of Beak Trimming and Claw Reduction on Growing and Early Laying Parameters, Fearfulness, and Heterophil to Lymphocyte Ratios
Honaker, Christa Ferst (Virginia Tech, 2003-05-26)
Commercial equipment used by the turkey industry at hatch sterilizes the germinal tissue of the claw with microwave energy and the beak tissue with infrared energy. This effectively claw and beak trims the birds. To test this technique on chickens, one-half of two strains of 1,200 Leghorn chicks were each subjected to the claw reduction (RC) technique at hatch, while one-half retained intact claws (IC). The beaks of one-third of these treatments were reduced at hatch using the infrared technique (1-day), one-third were precision trimmed at 7 d of age (7-day), and one-third were not trimmed (IB). Body weight, weight gain, feed intake, feed conversion, mortality, and fearfulness were measured. Rearing followed standard commercial feeding and husbandry procedures. During the preliminary experiment, heterophil to lymphocyte ratios did not consistently differ significantly between treatments. The RC birds had significantly lower body weight, except from 3 to 6 wk and had significantly lower feed consumption from 8 to 18 wk. The 1-day beak trimmed (BT) birds had significantly lower body weight from 3 to 14 wk and ate less total feed by 4 wk. Subjective evaluation showed that the RC birds exhibited less fearfulness during the growing period than the IC birds. Throughout lay, the body weight of RC and BT birds was significantly affected. Feed consumption was not lessened for RC birds, but was for BT birds throughout lay. Egg production, egg quality, and mortality were not affected by either treatment.
An Ex Ante Analysis of the Effects of Transgenic Rice on Farm Households’ Nutritional Vulnerability in Bangladesh
Liang, Yan (Virginia Tech, 2006-05-15)
Despite concerted efforts at agricultural development over many years, millions of people in developing countries still suffer from poverty and under-nutrition. New crop varieties, such as those released during the green revolution in Asia, increased farmers' income and reduced the level of under-nutrition. In recent years, while the speed of the development of conventional breeding technology has slowed, biotechnology has developed rapidly. In 2005, about 8.5 million farmers in 21 countries grew transgenic crops. Transgenic rice has not been commercially released on a large scale, but progress has been made in developing varieties with potential to increase yield and reduce input costs. In this context, this research aims to provide empirical evidence on the potential effects of introducing transgenic rice on farm households' income and nutritional well-being in Bangladesh, including the impacts on their current nutritional status and nutritional vulnerability over time. To this end, two econometric models are constructed and estimated. A farm household model is employed to project farm households' production and consumption responses to introducing improved rice varieties such as transgenic rice. The model estimates the profit effect of introducing transgenic rice. The influence of the profit effect on farmers' consumption decisions is then considered. Due to the ex ante nature of this research and data limitations, the effects of transgenic rice are assumed to be similar to that of previous high yielding varieties (HYVs), and the impact of transgenic rice on farm household profit is assumed to be similar to the effect of the percentage of rice area in HYVs and the yield effect of transgenic rice is the same as HYVs. On the production side, the supply of three outputs- rice, all other crops and animal products- and demand of labor and fertilizer were estimated. On the consumption side, both poor and non-poor households' demand for rice, wheat/other food, pulse, oil, vegetables/fruits, meat/egg/ milk, fish, and spices were estimated. Based on the parameter estimates, the calorie intake and protein intake elasticities with respect to introducing transgenic rice were computed. The results indicate that the total profit elasticity with respect to the percentage of rice area in HYVs is 0.08. The calorie elasticity with respect to the percentage of rice area in HYVs ranges from 0.062 in non-poor to 0.074 in poor households, and the protein elasticity ranges from 0.075 in non-poor to 0.084 in poor households. The results indicate that transgenic rice is likely to play a positive role in improving farm households' nutritional status in terms of total calorie/protein intake. The magnitude, however, is likely to be moderate, if only the profit effect is considered. A consumption forecasting model is used to examine farmers' nutritional vulnerability a probabilistic concept defined as having a high probability now of suffering a shortfall in the future. It is assumed that when exposed to risk, farmers' consumption decisions have already considered their risk coping strategies. The effect of transgenic rice is reflected by its impact on farm income. Farm households' calorie intake in the future (hunger season) was predicted by a multivariate regression function with the logarithmic daily per resident calorie intake as the dependent variable. The independent variables include variables that represent households' income, flood exposure, assets, and demographic composition. Farm households' nutritional vulnerability profiles, based on the estimation of ex ante mean and variance, indicate that vulnerability exists among surveyed rice farm households. The model also predicts that the income increase induced by introducing transgenic rice will reduce each individual household's probability of suffering a future consumption shortfall and subsequently will reduce its vulnerability. The overall vulnerability profile of farm households improves in Bangladesh.
Impacts of Best Management Practices on Farm Financial Performance
Victoria, Vanessa Francesca Villanueva (Virginia Tech, 2004-12-03)
A rapidly changing global agribusiness environment creates a challenge for commercially oriented agricultural producers to improve business acumen through strategy development and execution. A best management practice is broadly defined as a practice that is considered to be most effective in improving business performance. This study examined the relationship of financial leverage and management practices with financial performance on a group of Minnesota and Northwest farms. Management practices were classified into seven broad categories of management, namely strategic planning, financial management, networking, marketing, technology adoption, family relationship and human resources management. Using multiple regression analysis on 242 observations, the effects of financial leverage and management practices on revenues and profits were determined. While the relationship of best management practices with profitability is less conclusive, this study concludes statistically significant relationships between management practices and financial performance, measured in terms of revenues. There exist positive and statistically significant returns to business planning, transition management, customer management and family relationship management.
A Market Analysis for Berry Crops in Virginia
Monson, Joseph (Virginia Tech, 2008-04-29)
This thesis analyzes the potential for producers in Virginia to successfully participate in the market for berry crops, which include strawberries, blueberries, raspberries, blackberries, and other novelty berries. A survey of current berry crop producers in Virginia is used to gain insight into the supply-side of the market, and a series of personal interviews with direct market berry crop producers and buyers from retail, wholesale, and processor outlets are conducted to assess the demand-side of the market. The results show that berry crop producers in the state are diverse along many dimensions, with certain groups better positioned to serve the unsaturated demand that exists through direct outlets and others better aligned to serve the increasing demand that exists among indirect buyers. Diversification into berry crop production involves high levels of risk, but the potential returns are likewise high.
Methods for Evaluating Agricultural Enterprises in the Framework of Uncertainty Facing Tobacco Producing Regions of Virginia
Halili, Rushan (Virginia Tech, 1999-11-22)
The purpose of this study was to develop and demonstrate an analytical framework to filter technical and economic information regarding alternative agricultural enterprises in order to enable farmers to make more informed diversification and adjustment decisions. This is particularly important for areas that need to adjust the structure of income sources as a result of dramatic changes in market demand and/or agricultural policy. Tobacco producing regions are currently facing such a problem in the United States. These regions need to consider a wide range of alternatives to maintain or enhance income and standards of living. The problem involved both strategic economic decisions and operational economic decisions. The method used combined information in the ArcView Geographic Information Systems (GIS) with Linear Programming (LP). Part of Pittsylvania County, Virginia, served as a case study example. A GIS database including soils and climatic conditions of the study area was created. Soils belonging to land capability classes 1 to 4 were considered for agricultural purposes. Agronomic requirements for specific yield levels of the enterprises considered were tabulated. An ArcView GIS analysis was conducted based on soil map unit symbols. Soil depth, soil series, soil texture, slope, flood potential and average summer temperature were factors associated with yield. Natural drainage, pH, natural fertility, content of organic matter and annual rainfall were factors that served for enterprise budget adjustments. The output of ArcView GIS analysis is maps of physically viable enterprise boundaries or enterprise reference units and tables of attributes for each field. Marketing of agricultural products that have prices that fluctuate seasonally is feasible only within the period of time called the "market window". When average historical prices were above total costs, a market window was identified. The optimal enterprise mix was addressed by LP from a whole farm planning perspective based on the results of ArcView GIS analysis and other constraints, including crop rotations, and irrigation limits. Various levels of tobacco production, vegetable enterprise activity levels, and limits on irrigation were employed to generate, ten scenarios. Results include the optimal enterprise mix, net revenue (above variable costs), shadow prices and sensitivity analysis. It is shown that specialty crops are not likely to replace tobacco income, at least in the near term. Developing a diversified farm plan could help farmers to make a smooth transition to other alternatives.
Modeling forest protection values for the southern Appalachian spruce-fir forest
Jenkins, Dylan H. (Virginia Tech, 1996-05-05)
Household economic value for southern Appalachian spruce-fir forest protection may be sensitive to changes in the forest's physical condition. Further, different recreation groups may hold significantly dissimilar values for forest protection. Household and recreation group willingness to pay for southern Appalachian spruce-fir forest protection was estimated using responses from a mail-out referendum style contingent valuation survey. To test the hypothesis that willingness to pay for forest protection is not sensitive to the condition of the forest's physical condition, 1,000 southeastern households were randomly assigned one of two different forest protection scenarios. Households in the first sample were asked to value a protection program for a forest showing no visible sign of impact from insect or atmospheric disturbance. Households in the second sample were asked to value a protection program for a forest already experiencing impact from insect infestation and air pollution. Logit analysis of the two samples revealed no statistically significant difference in willingness to pay between the two forest protection programs. These results suggest that, over the range of forest conditions tested, a household's value for forest protection may be insensitive to the forest's physical condition.
Organic Milk: Consumers and their purchasing patterns
McKnight, Hannah Jane (Virginia Tech, 2007-06-04)
This study was designed to characterize consumer purchases of organic milk by differentiating consumers based on buying behavior and then evaluating what personal and household characteristics were most prominent in each group. Cluster analysis was used to differentiate four groups of consumers based on their total volume of milk purchases, percentage of organic milk purchases, and frequency of milk purchases. The clusters were then characterized based on household size, household income, age of children, race, Hispanic origin, and head of household's age, education, occupation, and gender. Regression analysis then estimated the effects of the socio-demographic variables on cluster membership. Results were consistent with existing literature. Those who purchased the most organic milk were females with a small household, families consisting of one or two members, or larger families, usually four. These two groups of consumers differentiated themselves from one another and from the other two clusters that purchased less organic milk with larger families purchasing more milk, but a smaller percentage of organic milk purchases. The results of identifying consumers based on their milk buying behavior can be used by marketers and educators to target individuals, based on group membership, for planning and guiding education and advertising campaigns and programs.
A Parametric Simulation Model for Evaluating Cost Effectiveness of Remote Monitoring for Risk Reduction in Rural Water Supply Systems and Application to the Tazewell County, Virginia System
Wetzel, George L. (Virginia Tech, 2003-05-23)
A simulation model analyzes cost effectiveness of remote facility monitoring for risk reduction in rural water supply systems by performing a break-even analysis that compares operating costs with manual and remote monitoring. Water system operating cost includes the value of water loss (i.e., realized risk) resulting from operating excursions which are inversely related to mechanical reliability. Reliability is controlled by facility monitoring that identifies excursions enabling operators to implement mitigating measures. Cost effectiveness refers to the cost relationship among operating alternatives that reveals changed economic conditions at different operating rates inherent in the inverse relationship between fixed and variable costs. Break-even analysis describes cost effectiveness by identifying the operating rate above which the more capital intensive alternative will result in lower operating cost. Evidence indicates that increased monitoring frequency associated with remote monitoring can reduce water system operating cost by improving reliability, but whether remote monitoring is cost effective depends upon system-specific factors. The lack of a documented tool for evaluating this type of cost effectiveness led to the project objective of developing a model that performs break-even analysis by simulating water system operating costs as functions of system size (delivery rate). When the spreadsheet-based static deterministic parametric simulation model is run for the Tazewell County, Virginia water system based upon 1998 data, break even is predicted at approximately fifty-five percent of annual capacity (116,338,000 gallons) with operating cost of $1,043,400. Maximum annual operating cost reduction from a $317,600 investment provides payback in nine years.
Perceptions of the Influence of the Virginia Governor's School for Agriculture on VGSA Alumni
Cannon, John Glen (Virginia Tech, 2005-04-25)
The Virginia Governor's School for Agriculture (VGSA) is a summer enrichment program for gifted and talented students from throughout the Commonwealth of Virginia. The program is sponsored by the Virginia Department of Education, and it takes place at Virginia Tech during the month of July each year. The program is housed in the Department of Agricultural and Extension Education in the College of Agriculture and Life Sciences. Students who participate in the program receive hands on, cutting edge instruction in the broad fields of agricultural sciences, natural resources, and veterinary medicine.The nature of agriculture has and continues to evolve. Farmers comprise a very small portion of the population; however there are many careers in agriculture which require a steady supply of well-trained and highly educated professionals. It is projected that the demand for qualified college graduates to fill agricultural jobs will exceed supply. The VGSA has been developed as an agricultural literacy tool, to expose gifted and talented students to the diverse careers in the industry.The purpose of this study was to examine the impact of the VGSA on the students who have completed the four classes. Specific objectives were to develop demographic information; to ascertain the perception of the influence of the VGSA on alumni choice of college, major, and career; and to ascertain the perception of the influence of the VGSA on alumni knowledge and perception of the agricultural industry.A survey instrument was sent to all students who had completed the VGSA (N=316). Over half of the alumni (n=182) returned the instrument. No significant difference was found between early, late, and non-responders. The findings show that the average VGSA student is a white female that resides in an urban area with a population greater than 20,000. This student has a high school GPA of 3.93 and is in the top 6% of her high school graduating class. She has an SAT math score of 627 and an SAT verbal score of 630. She is not a member of the FFA or 4-H.The findings show that the VGSA does not have an overwhelming influence on alumni choice of college or college major. The VGSA does not have an overwhelming influence on alumni career goals. The findings show that the VGSA does have much influence on alumni knowledge and perception of the agricultural industry.
The Potential for Developing Mine Cavity Water for Water Supplies: Institutional and Water Quality Issues
Younos, Tamim M.; Wright, Benjamen A.; Reaves, Dixie Watts (Virginia Water Resources Research Center, 1999-08)
Many communities in the coalfield counties of southwest Virginia lack adequate and safe water supplies. The ability to develop affordable local water sources by using small water treatment plants is an attractive option to a small community and the local government. Under the right circumstances, water stored in mine cavities and discharged freely through the portals can be a potential water source for a small community where other sources of water are scarce or not of acceptable quality. Contrary to the general perception, not all mines produce acid drainage and many mines discharge water of acceptable quality that can be developed for drinking water supplies by using appropriate treatment techniques.
Potential Impacts of Pharmaceutical Uses of Transgenic Tobacco: The Case of Human Serum Albumin and Gaucher's Disease Treatment
Kostandini, Gentian (Virginia Tech, 2004-07-15)
This thesis examines the size and distribution of benefits from the use of transgenic tobacco as a production vehicle for pharmaceutical proteins. Ex-ante welfare benefits are estimated for the introduction of two biotech innovations. In both cases economic surplus model with imperfect competition is employed to assess the size and distribution of benefits from these alternative uses of tobacco. An introductory chapter presents an overview of the topic followed by chapters 2 and 3 which contain the two case studies. The first paper (chapter 2) examines the case of Human Serum Albumin production from transgenic tobacco. The second paper (chapter 3) examines the case of Glucocerebrosidase Enzyme from transgenic tobacco. Results demonstrate that new products from bio-pharming applications stand to generate significant social benefits. The introduction of Human Serum Albumin generates average annual gains of $46 million and the introduction of Glucocerebrosidase Enzyme generates average annual gains of $500 to $600 million.
Price Risk Management Strategies for Virginia Dairy Producers
Andino, Alexandra Elizabeth (Virginia Tech, 2004-12-15)
The 1996 and 2002 Farm Bill changes in milk support price legislation deregulated the market and milk prices are more volatile than ever. The use of a mechanism to reduce farmers' exposure to volatile milk prices has therefore become essential. This study evaluates the impact of two hedging strategies, one conservative and the other an intermediate one (more sophisticated). Optimal parameters for the two strategies are searched over a period of 5 years. Then, the performance, in terms of increased profitability and reduced variation, is assessed and the best performer is chosen and applied to an out-of-sample dataset. With the in-sample data, both strategies generate higher mean monthly profits than with the no-hedging option. Comparison of both strategies indicates that the intermediate strategy outperforms the conservative one in terms of higher profitability and lower variance. Out-of-sample results confirm the findings of the in-sample results. The additional profits and the reduction in volatility can make the difference between keeping a farm profitable and bankruptcy.

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