WAEA Presidential Address: Evolution toward Private Negotiation as a Dominant Institution in Agribusiness Supply Chains: Implications, Challenges, and Opportunities

Abstract

This paper discusses the implications, challenges, and opportunities arising from increased contracting and the use of private negotiation as a trading institution within agribusiness supply chains. I address the following questions: (i) As these changes occur and private negotiation becomes a dominant institution, are market signals and economic performance improved?; (ii) Are we preparing our students to be successful in this agribusiness market environment?; and (iii) Are we helping our extension clientele be successful as these changes occur?

Keywords

• bargaining power
• contracting
• vertical coordination