Steven Y. Wu
Ohio State University
Publications 46
Due to high levels of obesity, various government interventions have been proposed to curb the consumption of sugar-sweetened beverages (SSBs). The New York City "soda-ban," which proposed to limit the size of SSBs is among the most well-known and controversial. While public debates about beverage-size-restrictions tend to focus on how consumers are impacted, we use a nonlinear pricing model to show that, for all but extremely tight restrictions, consumer welfare would be unaffected by an enforc...
#1Timothy N. Cason (Purdue University)H-Index: 35
#2Steven Y. Wu (Purdue University)H-Index: 10
The use of student subjects and deception in experiments are two controversial issues that often raise concerns among editors and reviewers, which might prevent quality research from being published in agricultural and resource economics (ARE) journals. We provide a self-contained methodological discussion of these issues. We argue that field professionals are the most appropriate subjects for questions related to policy or measurement, and students are the most appropriate subjects for scientif...
5 CitationsSource
We model the potential efficiency and distributional consequences of a government beverage-size restriction that is designed to curb or reduce consumption of sugar-sweetened beverages. Unsurprisingly, we find that a credibly implemented restriction can curb consumption, particularly by “high-type” consumers who consume large amounts of sweetened beverages. Surprisingly, we find that for small to moderate restrictions that might be consistent with the magnitude of the NYC soda-ban, consumer welfa...
#1Joshua R. YoderH-Index: 2
#2Corinne E. Alexander (Purdue University)H-Index: 13
Last.Steven Y. Wu (Purdue University)H-Index: 10
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We evaluate how different contract designs impact risk sharing along the supply chain for the dedicated energy crop miscanthus. We model the full production and transportation system of the miscanthus supply chain because a sustainable supply chain must procure biomass in a cost-effective manner. Using this model, we estimate the financial returns and risks for both a farmer producing miscanthus and the biofuels plant purchasing miscanthus. We evaluate differences among contracts that are design...
6 CitationsSource
Contract production has been controversial in the livestock, meat, and poultry sectors, with many farm activists alleging that the market power held by large processors combined with the use of contracts can be exploitive of growers. For example, The Rural Advancement Foundation (RAFI) website states that the production contracts is “...the mechanism for exploitation” used by large concentrated integrators.
2 Citations
#1Steven Y. Wu (AAEA: Agricultural & Applied Economics Association)H-Index: 10
This article discusses the current state of contract theory and its usefulness for conceptualizing issues related to agricultural contracting. I will discuss the limitations of existing theory for applied work, and what methodological improvements are needed to enhance the usefulness of the theory to agricultural economists. One pervasive problem is that the canonical economic literature on contracts is rather fragmented and the various methodological strands are narrow in their focus. As such, ...
9 CitationsSource
#1Steven Y. Wu (OSU: Ohio State University)H-Index: 10
#2Nicole Theodoropoulos (OSU: Ohio State University)H-Index: 12
Last.Steven M. Devine (OSU: Ohio State University)H-Index: 47
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#1Nisvan Erkal (University of Melbourne)H-Index: 12
#2Steven Y. Wu (Purdue University)H-Index: 10
Last.Brian E. Roe (OSU: Ohio State University)H-Index: 30
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We develop a model of strategic contractual incompleteness that identifies conditions under which principals might omit even costlessly verifiable terms. We then use experiments to test comparative statics predictions of the model. While it is well known that verifiability imperfections can limit complete contracting, researchers know less about how the degree of imperfection affects endogenous incompleteness, particularly with repeat trading. In our baseline treatment with perfect verifiability...
1 Citations
#1Jeffrey D. Michler (Purdue University)H-Index: 4
#2Steven Y. Wu (Purdue University)H-Index: 10
#1Corinne E. Alexander (AAEA: Agricultural & Applied Economics Association)H-Index: 13
#2Rastislav Ivanic (Mendel Biotechnology, Inc.)H-Index: 2
Last.Joshua R. YoderH-Index: 2
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This article provides an overview of modern contract theory and discusses the implications of the theory for contracting for perennial dedicated energy crops. We discuss some of the unique challenges of contracting for dedicated energy crops used for the production of advanced biofuels and survey some of the relevant concepts and research from the contract theory literature to address these challenges. We focus primarily on the “mechanism design” or “complete contracts” approach to contracting, ...
29 CitationsSource