Cornelis Gardebroek

Cornelis Gardebroek
Wageningen University & Research | WUR · Department of Economics

PhD

About

110
Publications
26,344
Reads
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1,996
Citations
Citations since 2017
29 Research Items
1399 Citations
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2017201820192020202120222023050100150200250300
2017201820192020202120222023050100150200250300
2017201820192020202120222023050100150200250300

Publications

Publications (110)
Article
We examine persistence and cross‐market liquidity spillovers in the Chicago Mercantile Exchange soybean complex futures markets. A multidimensional liquidity measure is derived from the limit‐order‐book, and a Vector Heterogeneous Autoregressive model estimates high‐resoluted liquidity from 30 s to one trading day. We find traders' order placement...
Article
Full-text available
On September 29, 2020, JPMorgan was ordered to pay a settlement of $920.2 million for spoofing the metals and Treasury futures markets from 2008 to 2016. We examine these cases using a visualization method developed in particle physics (CERN) and the messages that the exchange receives about market activity rather than time‐based snapshots. This ap...
Preprint
Full-text available
We introduce a methodology to visualize the limit order book (LOB) using a particle physics lens. Open-source data-analysis tool ROOT, developed by CERN, is used to reconstruct and visualize futures markets. Message-based data is used, rather than snapshots, as it offers numerous visualization advantages. The visualization method can include multip...
Article
Full-text available
We introduce a methodology to visualize the limit order book (LOB) using a particle physics lens. Open‐source data‐analysis tool ROOT, developed by CERN, is used to reconstruct and visualize futures markets. Message‐based data is used, rather than snapshots, as it offers numerous visualization advantages. The visualization method can include multip...
Article
Full-text available
Recent empirical literature pays increasing attention to farmer‐retail power relations in agricultural supply chains, yet seems to neglect potential differences between prices that primary producers receive for their products. Via both a Markov chain analysis and a hybrid panel data model, we empirically test whether primary producers receive price...
Article
Full-text available
Recent research has indicated an increase in the likelihood and impact of tree failure. The potential for trees to fail relates to various biomechanical and physical factors. Strikingly, there seems to be an absence of tree risk assessment methods supported by observations, despite an increasing availability of variables and parameters measured by...
Article
Reducing the usage of fossil fuels is a central issue in ongoing policy debates. This in particular holds for Dutch horticulture, given its energy-intensive production. We analyse differences in energy usage and price responsiveness of horticultural firms by estimating energy demand functions using a Bayesian random coefficient model. Beyond, the e...
Article
We report on a randomized field experiment designed to relax credit and risk constraints for agricultural activities. We conducted a study in a drought-prone region in northern Ethiopia among poor smallholders who depended on rainfed agriculture and were members of the Productive Safety Net Programme (PSNP). Data were collected from over 1100 farme...
Article
Full-text available
Agriculture-based livelihoods in developing countries are often challenged by a multitude of unforeseeable shocks, but economic research mostly focuses on single shocks. This paper investigates how climate, health, pest and price shocks individually and in combination relate to farm households’ coping strategy choices. First, we use binary probit m...
Article
Full-text available
The way economic studies conceptualize and measure resilience is very heterogeneous. This does not only challenge scientific progress, but also raises the question of whether they measure one identical concept with different methods or whether they measure different understandings of resilience. This paper provides a review of concepts, methodologi...
Article
en Dutch horticultural firms have expanded rapidly in recent decades, both in terms of their production area as well as in number of employees. In particular in the production of fresh fruits and vegetables, a number of very large horticultural firms emerged with often more than 100 employees, operating on tens of hectares of greenhouses. A standar...
Article
This study investigates the impact of improved maize varieties on household food security in eastern Zambia using household survey data from a sample of over 800 rural households. Since treatment effect estimates are often prone to misspecification in either the treatment or outcome equation, we use the doubly robust inverse probability weighted re...
Article
Cooperatives are established to improve farmers' production conditions, to increase their bargaining power and to enable them to benefit from modern value chains. In China, farmers are members of a cooperative for multiple reasons. Little is known on whether and how cooperative membership affects farmers’ choice of marketing channels. This paper ex...
Article
The abolition of milk quota fuels environmental concerns in the Netherlands. A microeconomic model is developed to analyse the technical relations between milk, roughage and manure production. Production functions for milk, feed and roughage are estimated based on milk quota and manure constraints. Together with an equation for manure production th...
Article
We investigate the relationship between the transmission of price volatility and market power in the German fresh pork supply chain. We use a theoretical model underpinning this relationship followed by an empirical application that uses monthly farm, slaughterhouse and retail pork price data for the period 2000–2011. We examine both the relationsh...
Article
The aim of the paper is to quantify endogenous factor-augmenting technical change driven by R&D investments in a panel of 11 OECD countries over 1987–2007. This paper contributes to the scant empirical evidence on the speed, sources and direction of technical change for various sectors and production factors. Assuming cost-minimization behavior, a...
Article
A major concern about biofuels is that increasing biofuel feedstock demand reduces availability of crops for food and feed leading to higher food prices. This paper investigates relations between biofuel policies and prices of rapeseed, the major feedstock used for biodiesel production in Europe, and the impact of rapeseed prices on crop acreages i...
Poster
Full-text available
Temporally and spatially disaggregated market price data most useful for analysis, but data problems common, such as missing observations, outliers, short and incomplete series, etc. Cointegration not possible in such a case. Instead of adapting data to suit methods, we propose to adapt method to suit data.
Article
Rainfall shortages constrain small-holders' agricultural production in developing countries and with ongoing climate change these shortages may increase in volume and frequency. Rainwater harvesting irrigation is an interesting technology that decreases this risk. Therefore, one would expect an increasing use of this technology in drought-prone are...
Article
We study the economic impact of world trade on the throughput in the Port of Rotterdam and the regional economy of Rotterdam-Rijnmond. We use a two-step approach. In the first step we analyze the relationship between world trade and the port’s throughput. In the second step we deal with the impact of the port’s throughput on regional economic indic...
Article
In 2008 hebben Nederlandse universiteiten het vereiste onderwijsniveau voor wetenschappelijk personeel vastgelegd in de Basiskwalificatie Onderwijs (BKO). Welk effect heeft het behalen van een BKO door docenten op de onderwijsevaluaties?
Article
Full-text available
Using household survey data from a sample of 810 households, this paper analyses the determinants of children’s nutritional status and evaluates the impacts of improved maize varieties on child malnutrition in eastern Zambia. The paper uses an endogenous switching regression technique, combined with propensity score matching, to assess the determin...
Article
The abolition of dairy quotas in Europe in 2015 has been accompanied by uncertainty on expansion of the European dairy sector. Whereas the total amount of quotas was limited and the value of quotas was falling before 2015, a significant part of active Dutch dairy farmers followed an expansion strategy in the recent past. Therefore, it was expected...
Article
Risk assessments on trees in urban areas and roadside plantings have become common practice and a large body of information exists on qualitative aspects on the risks of tree failure. Quantitative analysis of financial damage due to tree failure is generally lacking. The objective of this paper is to determine the amount of tree failure related pro...
Article
This study analyses disadoption of water harvesting technologies in Ethiopia where the average disadoption rate in the sample areas is as high as 42%. Given that Ethiopia is a drought-prone country with 95% of its crop production being rain-fed, such a high disadoption rate for irrigation technologies is surprising and urges investigation. Using pa...
Conference Paper
Full-text available
Recent global food price developments have spurred renewed interest in analyzing integration of local markets to global markets. A popular approach to quantify market integration is cointegration analysis. However, local market price data often has missing values, outliers, or short and incomplete series, making cointegration analysis impossible. I...
Article
This paper uses a multinomial endogenous treatment effects model and data from a sample of over 800 households and 3,000 plots to assess the determinants and impacts of adoption of sustainable agricultural practices (SAPs) on maize yields and household incomes in rural Zambia. Results show that adoption decisions are driven by household and plot le...
Article
This article provides a comprehensive analysis of the dynamics of volatility across major agricultural commodities in the United States. Volatility interactions across markets may lower the effectiveness of diversification strategies to mitigate price risks and should be taken into account when analyzing the pricing behavior of different agricultur...
Conference Paper
Recent global food price developments have spurred renewed interest in analyzing integration of local markets to global markets. A popular approach to quantify market integration is cointegration analysis. However, local market price data often has missing values, outliers, or short and incomplete series, making cointegration analysis impossible. I...
Article
This article studies the economic value and roles of rural festivals. The authors investigate the festivals of 'Kuruma-ichi' and 'Suishamatsuri' in the Yamane area of Kuji city, Iwate prefecture, Japan. They estimate a travel demand model to infer the value of these festivals for visitors and apply the chi-square automatic interaction detection (CH...
Article
In southwestern Ethiopia honey is a non-timber forest product that provides income for many smallholders. Some of these beekeepers supply their honey under contract to a company that markets their organic honey internationally allowing them to access premium markets. Since both production and marketing depend crucially on the forest, both smallhold...
Article
The objective of this paper is to examine the value of experiments for assessing the impact of the proposed Common Agricultural Policy of 2013 on farm income and farming strategies. We focus specifically on the impact of an alternative direct payment system based on a flat rate and green payments. We show the added value of an economic simulation e...
Article
Rainfall shortage is a major production risk for smallholder farmers. Due to rainfall shortage, smallholders limit the use of modern inputs such as fertilizer and improved seeds. This study investigates if water harvesting technologies (WHTs) induce fertilizer use and whether there is joint adoption of fertilizer and water harvesting technologies....
Article
Full-text available
This paper analyses interlinkages between farm household diversification strategies in rural Italy. The paper contributes to the literature by providing a quantitative analysis of farm household decisions while explicitly taking into account the potential interaction in the choice of diversification strategies. We use data from the 2006 Italian Far...
Conference Paper
Full-text available
This paper investigates potential impacts on milk production of Dutch dairy farms if feed prices increase, milk prices decrease and milk quotas are abolished. A quadratic cost function is estimated using panel data on individual dairy farms of the Dutch FADN. Marginal costs and revenues are evaluated to show the heterogeneous farm-level impact of c...
Article
This paper examines volatility transmission in oil, ethanol and corn prices in the United States between 1997 and 2011. We follow a multivariate GARCH approach to evaluate the level of interdependence and the dynamics of volatility across these markets. The estimation results indicate a higher interaction between ethanol and corn markets in recent...
Conference Paper
The objective of this paper is to examine the value of experiments for assessing the impact of the proposed Common Agricultural Policy of 2013 on farm income and farming strategies. We focus specifically on the impact of an alternative direct payment system based on a flat rate and green payments. We show the added value of an economic simulation e...
Article
Full-text available
Evidence on the long-term impacts of microfinance credit is scarce. We use a unique four-round panel dataset on farm households in northern Ethiopia that had access to microfinance, observed on two key poverty indicators: household consumption and housing improvements. Fixed-effects and random trend models are used to reduce potential selection bia...
Article
Full-text available
Rain-fall shortage constrains production in small-holder agriculture in developing countries and with ongoing climate change these shortages may increase. Rain-water harvesting are interesting technologies that decrease this risk. Therefore, one would expect an increasing use of these technologies in drought-prone areas. However, data collected in...
Article
This paper analyzes interlinkages between farm household diversification strategies in rural Italy. Existing studies often ignore the correlation between different strategies that are in competition for the same resources (land, labor, capital). This can lead to biased results. We employ a multivariate probit model to explicitly study the joint-dec...
Article
Full-text available
This paper evaluates the long-term impact of microfinance credit from the intensity of participation in borrowing. We use a four-round panel data set on 351 farm households that had access to microfinance in northern Ethiopia. Over the years 1997-2006, with three-year intervals, households are observed on key poverty indicators: improvements in ann...
Article
Full-text available
Many efforts are made to promote soil conservation in developing countries. This paper compares the effect of two programs promoting soil conservation in Peru on the adoption decision of households. One program applies a top-down approach with soil conservation as its core activity. The other program applies a participatory approach, offering a por...
Article
Full-text available
The structure of the dairy processing industry in the European Union has changed enormously in recent decades. In many countries, the industry is characterized by a few large companies with a big market share accompanied by many small processors that often produce for niche markets. This article investigates which factors relate to growth of dairy...
Article
This paper compares the production technology and production risk of organic and conventional arable farms in the Netherlands. Just-Pope production functions that explicitly account for output variability are estimated using panel data of Dutch organic and conventional farms. Prior investigation of the data indicates that within variation of output...
Article
Binnen het project Landelijk Meetnet effecten Mestbeleid (LMM) is een studie verricht naar de invloed van mineralenmanagement op de bodemoverschotten van stikstof en fosfaat en de nitraatconcentratie in het bovenste grondwater en drainwater op melkveebedrijven. Zowel met regressies als met groepsvergelijkingen zijn de relaties onderzocht. De uitkom...
Article
Full-text available
In many European countries, farmers are a member of a processing or marketing co-operative, and most of these farmers also deliver their products to that co-operative. However, an extensive dataset of Italian farmers shows that not all members deliver to their co-op, and that there are also non-members that deliver. Using theoretical arguments from...
Article
Theoretical models on group lending assume the formation of groups of homogenous risk types. Recent theoretical and empirical findings challenge this view arguing that when markets for insurance are missing, risk homogeneity may not hold any more and risk heterogeneity can be the optimal outcome. Using data from an MFI in Tigray (Ethiopia), this ar...
Book
Full-text available
The local consumption of milk products is increasing slightly due to increased consumption of cheese and yoghurts. Milk consumption is slightly decreasing in most countries. In the EU-12 the dairy industry is growing in importance in the total food industry. The EU dairy industry is very dominant in the world market. The EU-25 exports amount Euro 2...
Article
Full-text available
The European dairy industry is confronted with losing market share in the global competition. This is mainly a result of changes in agricultural trade policy. This report studies the competitiveness of the dairy industry in more detail. The report is the result of a background study for a project commissioned by the European Commission, DG Enterpri...
Article
Buyers of farmland are usually interested in parcels for sale that are close to their own farms. With a limited number of parcels for sale, this may lead to market power in local farmland markets. The objective of this paper is to investigate whether market power affects farmland prices. Hedonic price models are adapted to allow for local market po...
Article
Full-text available
Micro-econometric models have become a standard and powerful tool in analysing agricultural policies. In this paper we assess the contributions that have been made in the agricultural economics literature to dynamic microeconometric models of firms and households that are estimated using microdata. After discussing developments in dynamic investmen...
Article
Full-text available
This paper investigates borrowing decisions of rural households from a microfinance in Tigray, Ethiopia using household panel data on 5 years and a dynamic panel probit model. The theoretical model takes two types of risk involved in jointliability lending explicitly into account: risk of partner failure and the risk of losing future access to cred...
Article
Different views exist on the future development of organic agriculture. The Dutch government believes that in 2010 10% of the farm land will be used for organic farming. Others have a more radical view: due to increasing emphasis on sustainable production in the end all farming will be organic. Others believe in a more pessimistic scenario in which...
Article
This paper addresses the question what off-farm labor supply determines and, more specifically, what is the role of rainfall and rainfall variability therein. Answering this question is important in order to gain better insights into the process of how households deal with income variability. To answer this question the discrete off-farm work decis...
Article
Het toepassen van biologische landbouwmethodes is voor individuele boeren in een aantal opzichten risicovoller dan het gebruik van gangbare productietechnieken. Dit suggereert dat biologische boeren meer bereid zijn risico's te accepteren dan hun gangbare collega's. Om dit te onderzoeken zijn met behulp van Bayesiaanse schattingstechnieken en panel...
Article
This chapter assesses farm household land and labour allocation decisions under imperfect factor and product markets. A non-separable farm household model is adapted to obtain econometric estimates of land and labour allocation decisions under different market participation regimes. Survey data obtained from a sample of 154 farm households producin...
Article
This article focuses on adoption and modification decisions on improved maize storage technologies in southern Benin. Modification implies changing a technology to adapt to farmers' circumstances. A sample selection framework is used to account for selectivity bias as some farmers were not aware of the new technologies. Using this framework, the st...
Article
This article provides an empirical analysis of farm-gate tomato price negotiations under asymmetric information. Regression models are estimated to analyze when and by how much sellers stick to their initial ask prices and what explains the variation in the initial ask-offer price spread. Detailed information on 66 farm-gate tomato transactions and...
Article
Full-text available
In order to stimulate organic farming governments generally use a mix of temporary hectare payments and provision of public services for stimulating the development of the organic sector. In this paper a conceptual model is developed for determining a socially optimal hectare payment for any given level of public services. Farm heterogeneity, due t...
Article
De agrarische grondprijs wordt in verstedelijkte gebieden van Nederland gedomineerd door de mate van stedelijke druk. Daartegenover staat dat in de meer afgelegen landbouwgebieden de hoogte van diezelfde agrarische grondprijs in belangrijke mate bepaald wordt door de verhouding tussen het aantal kopers en verkopers op lokale agrarische grondmarkten...
Article
Organic farming is usually considered to be more risky than conventional farming, but the risk aversion of organic farmers compared with that of conventional farmers has not been studied. Using a non-structural approach to risk estimation, a Bayesian random coefficient model is used to obtain individual Arrow--Pratt coefficients of absolute risk av...
Article
Organic farming is usually considered to be more risky than conventional farming, but the risk aversion of organic farmers compared with that of conventional farmers has not been studied. Using a non-structural approach to risk estimation, a Bayesian random coefficient model is used to obtain individual Arrow-Pratt coefficients of absolute risk ave...
Article
Tradable permits are generally considered as an efficient instrument to regulate pollution by individual producers. However, uncertainty about changes in or possible discontinuation of the program could make individual farmers reluctant to invest in tradable permits. This article uses the option approach to derive a theoretical model that shows the...
Article
Tradable permits are generally considered as an efficient instrument to regulate pollution by individual producers. However, uncertainty about changes in or possible discontinuation of the program could make individual farmers reluctant to invest in tradable permits. This article uses the option approach to derive a theoretical model that shows the...
Article
This article incorporates a political decision process into an urban land use model to predict the likely location of a public good. It fills an important gap in the literature by modeling the endogenous location of open space. The article compares open space decisions made under a majority rules voting scheme with welfare-improving criterion and f...
Article
This paper investigates the impact of three policy measures on farmers¿ choices between conventional and organic farming for the period 1990-1999 in the Netherlands. Using panel data for 11 farms that switched in this period a dynamic logit model or panel data is estimated using maximum entropy methods. The GME-Logit model has a number of advantage...
Article
In this research we estimate investment equations for both buildings and machinery for Dutch dairy farmers producing under a quota regime. In the investment equations the impact of capital adjustment costs and external finance costs is taken into account. Moreover, potential sample selection bias in estimating the buildings investment equation is t...
Article
This paper develops a generalised adjustment cost framework that explicitly accounts for zero investments on Dutch pig farms. A farm-specific flexible adjustment cost function is used to account for differences in adjustment costs between farms. Using the Generalised Method of Moments the Euler equations for investment in buildings and machinery ar...
Article
Full-text available
This paper investigates the growth in the number of organic producers in the Netherlands. Using Bayesian techniques a logistic growth model explaining the share of organic farms is estimated. Prior information is used to estimate and compare three different models on the future of organic farming.
Article
This paper develops a dynamic model of investment under rational expectations, assuming farm-specific production technologies and adjustment cost structures. The model distinguishes regimes of negative, zero and positive investments and maintains that it is optimal for a farmer not to invest for a range of shadow prices, depending on thresholds for...
Article
This paper investigates the relation between unobserved farm productivity and other production factors in a system of netput equations for specialised pig breeding farms in the Netherlands. In order to estimate the system, a Hausman-Taylor panel data estimator is developed for a system of equations with unbalanced panel data. Tests on correlation b...
Article
Organic dairy farming in the Netherlands is a growing sector. This paper investigates the impact of a number of economic and farm-specific variables on the choice between conventional and organic farming. Based on expected utility maximisation, a theoretical framework is developed that explicitly accounts for the impact of non-economics variables l...
Article
In this paper the effect of manure production rights on investment decisions of Dutch pig farmers is examined. A dynamic optimization model of investment that explicitly takes zero investments into account is augmented by a constraint on production arising from the introduction of manure production rights. In the theoretical model it is shown that...
Article
Farmers operate their business in a dynamic environment. Fluctuating prices, evolving agricultural and environmental policies, technological change and increasing consumer demands for product quality (e.g. with respect to environmental friendly production methods, animal welfare and food safety) frequently require adjustment of production and input...