Master of Agribusiness / Department of Agricultural Economics / Vincent Amanor-Boadu / The overall objective of this research is to develop a business continuity plan for a relatively large livestock company located in Francophone West Africa. This is very important in an environment when both internal and external risks can lead to significant disruptions in the business processes. The research, thus, focuses on developing a process that can be applied to establish a business continuity management process in this firm and provides the framework for implementing such a plan successfully. The livestock company, let us call it Livestock Co. to protect its identity, wants to define strategies for recovery, resumption of business and other key activities under the potential scenarios. Its managers desire to formulate crisis response strategies that would be implemented quickly when these disasters hit. The thesis envisages the potential conditions that may trigger these crises and develops the management systems to mitigate them, returning the business to it activities as quickly as possible. Some of the natural disasters that may be considered are fire, accidents and political upheavals. Some technical disasters that may be imagined may be related to infrastructure, labor crisis, and grain dust explosions. Unlike natural disasters, which often are uncertain, technical disasters can be predicted based on careful assessment of the environment or the assets. The research evaluates the process for developing a business continuity management plan and offers an implementation process to ensure its smooth execution.

Doctor of Philosophy / Department of Economics / Philip G. Gayle / This dissertation constitutes two essays in the field of industrial organization. Specifically, the research focuses on empirically assessing the market effects of airline alliances. The first essay examines how codesharing, a form of strategic alliances, by airlines affects market entry decisions of potential competitors. Researchers have written extensively on the impact that strategic alliances between airlines have on airfare, but little is known of the market entry deterrent impact of strategic alliances. Using a structural econometric model, this essay examines the market entry deterrent impact of codesharing between incumbent carriers in U.S. domestic air travel markets. We find that a specific type of codesharing between market incumbents has a market entry deterrent effect to Southwest Airlines, but not other potential entrants. Furthermore, we quantify the extent to which market incumbents’ codesharing influences market entry cost of potential entrants. The second essay examines the effects of granting Antitrust Immunity (ATI) to a group of airlines. Airline alliance partners often want to extend cooperation to revenue sharing, which effectively implies joint pricing of their products (explicit price collusion). To explicitly collude on price, airlines must apply to the relevant government authorities for ATI (U.S. Department of Justice and Department of Transportation in the case of air travel markets that have a U.S. airport as an endpoint), which effectively means an exemption from prosecution under the relevant antitrust laws. Whether consumers, on net, benefit from a grant of ATI to partner airlines has caused much public debate. This essay specifically investigates the impact of granting ATI to oneworld alliance members on their price, markup, and various measures of cost. The evidence suggests that the grant of ATI facilitated a decrease in partner carriers’ marginal cost, and increased (decreased) their markup in markets where their service do (do not) overlap. Furthermore, member carriers’ price did not change (decreased) in markets where their services do (do not) overlap, implying that consumers, on net, benefit in terms of price changes.

Master of Agribusiness / Department of Agricultural Economics / Brian Briggeman / “Skyscrapers of the plains” is a term which refers to the country elevators spread throughout Kansas and the Midwest, along with the elevators are farmer cooperatives. Farmer cooperatives have been around for more than a century to serve the area farmers as a place to store and market their grain and to purchase their farm inputs. The objective of this research is to identify key profitability drivers of farmer cooperatives of different sizes throughout time. This will be done by using a unique data set gathered from the CoBank’s RiskAnalysis database and examining it with the DuPont model. The project breaks down the data by size, large vs. small, and location. If a cooperative has done more than 100 million dollars in sales in 2010, it was classified as large for the entire time period, all other cooperatives were small. Location was either Kansas or Midwest. In this model, operating profit margin or earns, asset turnover ratio or turns, debt-to-equity ratio or leverage, and spread are examined. Also examined are Return on Assets, the operating performance, and Return on Equity, the financial performance, of the cooperative. Board of Directors and cooperative managers will be able to take this information and hopefully make decisions which make their respective cooperatives more profitable. With the information provided, cooperative managers and Board of Directors will be able to financially compare themselves versus other cooperatives of similar size whether they are in Kansas or in other Midwestern states.

Master of Science / Department of Computing and Information Sciences / Doina Caragea / William H. Hsu / In this work, we focus on the task of clustering businesses in the state of Kansas based on the content of their websites and their business listing information. Our goal is to cluster the businesses and overcome the challenges facing current approaches such as: data noise, low number of clustered businesses, and lack of evaluation approach. We propose an LSA-based approach to analyze the businesses’ data and cluster those businesses by using Bisecting K-Means algorithm. In this approach, we analyze the businesses’ data by using LSA and produce businesses’ representations in a reduced space. We then use the businesses’ representations to cluster the businesses by applying the Bisecting K-Means algorithm. We also apply an existing LDA-based approach to cluster the businesses and compare the results with our proposed LSA-based approach at the end. In this work, we evaluate the results by using a human-expert-based evaluation procedure. At the end, we visualize the clusters produced in this work by using Google Earth and Tableau. According to our evaluation procedure, the LDA-based approach performed slightly bet- ter then the LSA-based approach. However, with the LDA-based approach, there were some limitations which are: low number of clustered businesses, and not being able to produce a hierarchical tree for the clusters. With the LSA-based approach, we were able to cluster all the businesses and produce a hierarchical tree for the clusters.

Doctor of Philosophy / Agricultural Economics / Allen M. Featherstone / Christine Wilson / Farmland values have reached all-time highs and have significantly risen over the last few years. This has caused much debate about whether farmland prices are currently on a bubble and ready to burst, much like the earlier 1980s. Much research has been done on farmland values; however, work done outside of agricultural economics, looking at general asset values, can be incorporated into models of farmland value. Information cascades, or herding, are phenomenon where information in the market is sent between investors and this information is bid into the asset price, thus resulting in boom and bust periods. By using a Vector Autoregression (VAR) model, farmland price dynamics are modeled and analyzed for spatial dependencies from one region to the next. VAR allows for no a priori specification of network typology. This allows for the examination of the existence of information cascades and what form the network takes among spatially located farmland markets. This method is then compared to two other spatial estimation techniques. The first is a Spatial Autoregressive (SAR) model where network typology is imposed prior to estimation. The second is a VAR model where no network is modeled, and only the region’s own asset prices can influence future periods. It is found that information cascades exist and network typology is somewhat random. These results caution the current direction of the literature of imposing network or spatial structure. However, due to data requirements, SAR models are easier to estimate since they require less data and if network structure, which the SAR model inherently imposes by the weight matrix, could be determined by an autoregressive process instead of an adjacency rule it could prove to be the most accurate forecasting method.

Master of Science / Department of Family Studies and Human Services / Farrell J. Webb / Farrell J. Webb / The purpose of this thesis was to examine how financial stressors influence family well-being. The specific thrust of this thesis was to examine if and how family well-being is influenced by financial stressors caused by the current economic crisis through an adaptation of Hills ABC-X Mosel (1949) known as the ABCE-WB Model. The ABC-X Model was adapted first by White (2007) who substituted the X—crisis element with the WB- well-being item. I added a new element to this model known as E—family expenditures. The data used in this thesis were gleaned from research conducted by Knowledge Networks on behalf of the National Center for Family and Marriage Research. The study was titled: Familial Responses to Financial Instability, How the Family Responds to Economic Pressure: A Comparative Study, 2009. In consisted of nationally representative a (multivariate) address the central hypotheses of this weighted a sample of 1,169 respondents. Analyses included simple correlations (bivariate) and hierarchical analyses investigation that explored what was the relation shop between the resources, perceptions, and expenditures a family had available to them in the current economic crisis and their well-being. The results indicate that approximately 22.4% of the variance in well-being could be explained by the elements in the ABCE-WB Model. In addition, there were several important relationships that were revealed between the predictors and the outcome measures individually. Overall, the efficacy and utility of the ABCE-WB Model was upheld by the results. Based on these findings future use of the ABCE-WB Model holds promise.

Master of Science / Department of Statistics / Weixing Song / The purpose of this report is to propose and evaluate two lack-of-fit test procedures to check the adequacy of the regression functional forms in the standard Tobit regression models. It is shown that testing the null hypothesis for the standard Tobit regression models amounts testing a new equivalent null hypothesis of the classic regression models. Both procedures are constructed based on the empirical variants of a minimum distance, which measures the squared difference between a nonparametric estimator and a parametric estimator of the regression functions fitted under the null hypothesis for the new regression models. The asymptotic null distributions of the test statistics are investigated, as well as the power for some fixed alternatives and some local hypotheses. Simulation studies are conducted to assess the finite sample power performance and the robustness of the tests. Comparisons between these two test procedures are also made.

Master of Agribusiness / Department of Agricultural Economics / Vincent R. Amanor-Boadu / Population out-migration from rural communities has caused significant distress in the Midwest of the United States. This distress comes from loss of the communities’ human capital which supports its economic well being. For example, the declining human capital implies lack of employees and consumers to support local business and lower populations that lead to consolidation of schools and services as well as increased per capita costs for these services. Population loss is caused by a variety of reasons, the most discussed being lack of economic opportunities for young people in these small and rural communities. This thesis sought to increase appreciation of the problem by focusing on a single county in Kansas, Wabaunsee County, and assessing the factors that influenced out-migration decisions of its youth. The hypothesis was that understanding these factors and their strength would provide local policy makers with the tools to intervene in the dimensions of the problem of out-migration long before it happens. The data was drawn from a survey of the population of high school students and covered their perspectives about their community and their future location plans. The total number of respondents to the survey was 172, and of these, only 12 percent totally agreed that at least one adult (not parent) has talked to them about opportunities that would encourage them to return home after their post high school or college education. Only about 10 percent totally agreed that there are opportunities in their community for young people to work with adults. These results provide an opportunity for policy makers to engage adults in the community to provide mentorship opportunities for the community’s young people. While the majority of the respondents indicated going to college, only 11 percent indicated that they would return to live and work in Wabaunsee County after graduation. An even lower percentage of respondents indicated retiring in Wabaunsee County when asked to “think way into the future” and indicate whether they would like to retire in the country. The results indicate that the most critical variables influencing respondents’ intent to return after their education included community connection, their age and the existence of a business connection in the county. For example, the relative risk ratio (RRR) for those with community connections was 35 times as high as those without any community connection in their intent to return after college. Similarly, those with business interest in Wabaunsee County with interest in coming back after college exhibited a RRR of 345.15. Similar indicators were found for intentions to retire in Wabaunsee County. It is obvious that the community cannot keep all of its young people. Indeed, it does not want to keep all of them if these young people are going to achieve their personal excellence. However, the community’s leadership can work with local businesses to provide the youth with clear and compelling connections to local and family businesses to increase their community connections. The results of this research indicate that these stronger ties would increase the likelihood that these young people would return. Their return, given the historical trends, would signify a break from the past and contribute to an arrest of the declining population and, hopefully, contribute to an alleviation of the challenges associated with declining population in these small communities.

Master of Agribusiness / Department of Agricultural Economics / Vincent Amanor-Boadu / This research identifies factors that distinguish rural women who have migrated to Bangkok for the purpose of enhancing their economic wellbeing by engaging in the sex industry and those who have stayed in their rural communities and are not engaged in the sex industry. The research used primary data collected through interviews in the red light districts of Bangkok and Pattaya and in villages in the rural provinces of Buriram, Udon Thani, Sakon Nakhon, Chayaphum and Khon Kaen in Thailand. A total of 100 respondents provided information for the study: 55 percent from the red light districts and the remainder from the provinces. The data were analyzed using logit regression modeling approach as well as statistical analysis. The statistical analysis provided the descriptive statistics of the respondents and an overview of the data. The logit regression modeling approach facilitated the estimation of the responses of the probability of working in the red light entertainment districts to specified demographic and psychographic variables. The pseudo R-square of the logit model was 46.2 percent for the base model, which included age, marital status, number of male and female siblings respectively, birth position and number of children, education, financial responsibility and average monthly age. The results indicated that marital status was significant at the 1 percent level, exhibiting a marginal effect of about -35.2 percent. That is, when the marital status of a respondent changed from unmarried (0) to married (1), the probability of sex industry participation decreased by about 35 percent. Assessing the effect only among respondents with children, the results are not very different from the base model. The pseudo R-square for this model – which is the same as the base model, except that it has Teen Mother as a variable – was 61.4 percent with a total number of observations of 78 instead of the original 100. This implies that about 22 respondents did not have any children. In this model, the marital status variable is significant at the 1 percent level as was the number of female siblings. The average monthly wage is significant at the 5 percent level, with a 1000 Thai Baht increase in wages leading to a marginal 0.01 percent decline in the probability of sex industry participation. Education, under this model, is statistically significant at the 10 percent level, with another year of education decreasing the probability of sex industry participation by 2.5 percent. The foregoing provides some clear policy direction. Specific efforts may be invested in enhancing the education of women in Thailand, which is expected to increase their economic situation. However, this expectation would not materialize if investments are not made to enhance the economic opportunities available to women across the economic spectrum. Perhaps most importantly, however, this study shows that incremental improvement in educational and economic opportunities for rural women alone may not achieve lasting results if cultural paradigms regarding marriage, relational fidelity and imbalanced socio-cultural obligations of daughters are not addressed in tandem.

Master of Arts / Department of Economics / Yang-Ming Chang / This report examines merger incentives of cost asymmetric firms under product differentiation and their welfare implications. Considering a simple contract under which merger profit is distributed according to the proportions of differential marginal costs between duopolistic firms, we show in a stylized model that for almost all parameter ranges (in terms of market competition intensity and marginal cost differential), a low-cost firm may have no incentive to merge with a high-cost firm whereas the high-cost firm always finds merger to be profitable. Only when marginal cost differential is sufficiently low and the degree of product similarity is sufficiently high will both the low-cost firm and the high-cost firm share the common interest in merger. On the other hand, the merger equilibrium is not welfare-improving, regardless of whether the firms initially compete in quantities or prices. Viewed from the perspective of production efficiency, mergers with differentiated products thus create a fundamental conflict between the maximization of consumer and social welfare and the maximization of firm profits. We also examine the scenario that merger takes place when merger profit exceeds the sum of firm profits under duopoly, without considering how merger profit is distributed between the firms. We discuss the conditions under which mergers may or may not be welfare-improving.