Measuring Sunk Costs in Agricultural and Food Industry Assets: Why Some Assets Sell Below Appraisal

References

Barnard, C. H., G.Whittaker, D.Westenbarger, and M.Ahearn. 1997. “Evidence of Capitalization of Direct Government Payments into U.S. Cropland Values.” American Journal of Agricultural Economics79:1642–50.10.2307/1244396Suche in Google Scholar

Beet Sugar Development Foundation. 1982. Beet-Sugar Technology, 3rd ed. Fort Collins, CO: Studio of Printcraft.Suche in Google Scholar

Boland, M.2003. “Wyoming Sugar Company LLC.” Arthur Capper Cooperative Center Case Study Series 03-02. Presented at Sixth Annual Farmer Cooperatives Conference, Kansas City, MO, October 30–31.Suche in Google Scholar

Brooks, J. C., A. C.Cameron, and C. A.Carter. 1998. “Political Action Committee Contributions and U.S. Congressional Voting on Sugar Legislation.” American Journal of Agricultural Economics80(3):441–54.10.2307/1244547Suche in Google Scholar

Burt, O. R.1972. “A Unified Theory of Depreciation.” Journal of Accounting Research10(1):28–57.10.2307/2490217Suche in Google Scholar

Fare, R., S.Grosskopf, and C. A. K.Lovell. 1985. The Measurement of Efficiency of Production. Boston, MA: Kluwer-Nijhoff.10.1007/978-94-015-7721-2Suche in Google Scholar

Featherstone, A. M., and T. G.Baker. 1988. “Effects of Reduced Price and Income Supports on Farmland Rent and Value.” North Central Journal of Agricultural Economics10:177–89.10.2307/1349218Suche in Google Scholar

Fisher, J. D., G. H.Lentz, and J. J.Stern. 1984. “Tax Incentives for Investment in Nonresidential Real Estate.” National Tax Journal6:9–87.10.1086/NTJ41791934Suche in Google Scholar

Fisher, F. M., and J. J.McGowan. 1983. “On the Misuse of Accounting Rates of Return to Infer Monopoly Profits.” American Economic Review73:82–97.Suche in Google Scholar

Hilber, C. A. L., and C.Mayer. 2009. “Why Do Households Without Children Support Local Public Schools? Linking House Price Capitalization to School Spending.” Journal of Urban Economics65:74–90.10.1016/j.jue.2008.09.001Suche in Google Scholar

Hilber, C. A. L., and T.Turner. “The Mortgage Interest Deduction and Its Impact on Homeownership Decisions.” The Review of Economics and Statistics. Posted Online November 12, 2013. doi:10.1162/REST_a_00427.10.1162/REST_a_00427Suche in Google Scholar

Hotelling, H.1925. “A General Mathematical Theory of Depreciation.” Journal of American Statistical Association20:340–53.10.1080/01621459.1925.10503499Suche in Google Scholar

Ibbotson SBBI. 2008. 2008 Classic Yearbook: Market Results for Stocks, Bonds, Bills, and Inflation, 1926–2007. Chicago, IL: Morningstar, Inc.Suche in Google Scholar

Jackson, T. O.2001. “The Effects of Environmental Contamination on Real Estate: A Literature Review.” Journal of Real Estate Literature9:93–116.10.1080/10835547.2001.12090100Suche in Google Scholar

Kirwan, B. E.2009. “The Incidence of U.S. Agricultural Subsidies on Farmland Rental Rates.” Journal of Political Economy117:138–64.10.1086/598688Suche in Google Scholar

Kolbe, A. L., and L. S.Borucki. 1998. “The Impact of Stranded-Cost Risk on Required Rates of Return for Electric Utilities: Theory and an Example.” Journal of Regulatory Economics13:255–75.10.1023/A:1008081104532Suche in Google Scholar

Moschini, G., and D.Hennessy. 2001. “Uncertainty, Risk Aversion, and Risk Management for Agricultural Producers.” In Handbook of Agricultural Economics. Volume 1a. Agricultural Production, edited by B. L.Gardner and G. C.Rausser, 87–153. North-Holland, Amsterdam: Elsevier Science.10.1016/S1574-0072(01)10005-8Suche in Google Scholar

Moss, C. B., and A.Schmitz. 2002. “Vertical Integration and Trade Policy: The Case of Sugar.” Agribusiness: An International Journal18:49–60.10.1002/agr.10006Suche in Google Scholar

National Agricultural and Statistics Service, US Department of Agriculture. 2011. Accessed November. http://www.nass.usda.gov/Data_and_Statistics/Quick_Stats/.Suche in Google Scholar

Netzell, O.2009. “A Study of Micro-Level Variation in Appraisal-Based Capitalization Rates.” Journal of Property Research26:235–63.10.1080/09599911003669682Suche in Google Scholar

Nourse, H. O.1987. “The ‘Cap Rate,’ 1966-1984: A Test of the Impact of Income Tax Changes on Income Property.” Land Economics63:147–52.10.2307/3146576Suche in Google Scholar

Oates, W. E.1969. “The Effect of Property Taxes and Local Public Spending on Property Values: An Empirical Study of Tax Capitalization and the Tiebout Hypothesis.” Journal of Political Economy77:957–71.10.1086/259584Suche in Google Scholar

Perrin, R. K.1972. “Asset Replacement Principles.” American Journal of Agricultural Economics54(1):60–67.10.2307/1237734Suche in Google Scholar

Petrolia, D. R., and P. L.Kennedy. 2003. “Increasing the U.S. Tariff-Rate Sugar Quota for Cuba and Mexico: A Partial-Equilibrium Simulation.” Journal of Agricultural and Applied Economics35 (3):589–97.10.1017/S1074070800028303Suche in Google Scholar

Risch, C. C., M. A.Boland, and J. M.Crespi. 2014. “Survival of U.S. Sugar Beet Plants from 1897 to 2011.” Agribusiness30:1–13.Suche in Google Scholar

Schulz, L. L., and J. M.Crespi. 2012. “Presence of Check-Off Programs and Industry Concentration in the Food Manufacturing Sector.” Agribusiness28:148–56.10.1002/agr.21287Suche in Google Scholar

Southern Minnesota Beet Sugar Coop, Relator, vs. County of Renville, Respondent. 2007. A07-394, Supreme Court, August 23.Suche in Google Scholar

Stevenson, S., J.Young, and C.Gurdgiev. 2010. “A Comparison of the Appraisal Process for Auction and Private Treaty Residential Sales.” Journal of Housing Economics19:157–66.Suche in Google Scholar

Sutton, J.1996. Sunk Costs and Market Structure. Cambridge, MA: MIT Press.Suche in Google Scholar

Taylor, M., and G.Brester. 2005. “Non-Cash Income Transfer and Land Values.” Review of Agricultural Economics27:526–41.10.1111/j.1467-9353.2005.00262.xSuche in Google Scholar

Troxel, C. E.1936. “Economic Influences of Obsolescence.” American Economic Review26:280–90.Suche in Google Scholar

Tyrvainen, L., and A.Miettinen. 2000. “Property Prices and Urban Forest Amenities.” Journal of Environmental Economics and. Management39:205–23.10.1006/jeem.1999.1097Suche in Google Scholar

U.S. Department of Agriculture, Economic Research Service. various years. Sugar and Sweeteners Report. Washington, DC.Suche in Google Scholar

U.S. Department of Commerce, 1996 to 2007. “Annual Census of Manufacturers.”Suche in Google Scholar

U.S. Environmental Protection Agency (EPA). November 2011. “Potential Stranded Capital Analysis on EPA Light-Duty Technology Cost Analysis.” EPA-420-R-11-019. Washington, DC.Suche in Google Scholar

U.S. General Accounting Office. 2002. “Supporting Sugar Prices Has Increased Users’ Costs While Benefiting Producers.” Report to Congressional Requesters, GAO/RCED-00-126.Suche in Google Scholar

U.S. Securities and Exchange Commission, 1996–2007. “10-K Reports, Assorted Firms.”Suche in Google Scholar

Wilen, J. E.2009. “Stranded Capital in Fisheries: The Pacific Coast Groundfish/Whiting Case.” Marine Resource Economics24:1–18.10.1086/mre.24.1.42629642Suche in Google Scholar