Data from 1,422 feeder cattle teleauction lots were used to assess the impacts on profitability of the Virginia quality assured (VQA) feeder cattle program. The analysis finds higher profits for VQA cattle due to their faster turnover and lower feed costs; however, certification does not have a significant effect on price received by producers. The analysis further suggests that the cost associated with production under VQA should be considered in addition to price effects studied in previous literature.

We analyse the trade routes between the UK and EU countries. Our results show that the relative importance of the UK as a trading partner in the EU has slightly decreased. We further decompose the total value added into components that quantify the value added that is generated through direct trade with the UK and the indirect trade that is channelled through third countries. Close to one third of the total value added is generated through indirect trade and two thirds through direct trade. Furthermore, 18 per cent of EU countries’ value-added trade to the UK passes through the UK onto other countries.

The EU´s falling share in global manufacturing has fuelled concerns about an overall loss of EU competitiveness, in particular vis-à-vis China. We analyse the empirical evidence underlying these concerns by applying a newly developed decomposition technique to global input-output data spanning the years 2000 to 2014. Our results confirm the diminishing role of the EU in manufacturing value chains, but also show that this is mostly, by nearly 75 per cent, a consequence of the geographical and sectoral reallocation of global demand, reflecting the lower economic growth in the EU relative to the rest of the world. Still, the other almost 25 per cent of the EU’s loss of global share is explained by its lower participation in manufacturing value chains, which confirms a downturn in EU competitiveness. By extending the analysis to individual manufacturing activities we show that this general trend is more pronounced for low-tech (e.g. textiles) than high-tech sectors, with pharmaceuticals emerging as the most resilient EU industry. Policy concerns appear to be most warranted for electronics, a key sector for which the EU´s global share fell even more than for overall manufacturing, without evidence that EU value added from upstream service inputs could significantly mitigate this trend.

There has been a long-standing debate on the global importance of the African external slave trades. While many scholars believe these to have been detrimental to African development, they were clearly a determining factor in the development of the Americas. What role they played for the European colonial powers is, however, hotly debated. This article contributes to the debate by estimating value added in the Triangular Trade and the American plantation complex. The article empirically studies the case of British connections to the African slave trade and the American plantation complex during the eighteenth century, since these have been the focus of much previous scholarly debate. The estimates suggest that these trades grew substantially over the period, reaching a magnitude equivalent to about 11% of the British economy by the early nineteenth century.

Reservations on technical and theoretical grounds in the use of the consumer surplus approach to measure benefits of government programs have often appeared in the literature. Therefore, this paper uses an alternative approach in a case study to estimate the annual economic surplus created in South Carolina from deregulating tobacco production. Impacts of deregulation on cropping patterns and income on representative tobacco farms, and distribution of benefits in the economy are examined. Results of this study indicate that deregulation stimulates the economy and would increase the net value added by $5.8 million in the long run.

Attributes for two value-added seafood products derived from underutilized crawfish are analyzed using conjoint data from seafood restaurants in the southern region of the United States. Preferences for the products' form, price, and flavor attributes were tested. Statistical tests revealed that the attribute interactions were not significant, and part-worth utilities for all main effects were estimated using an additive preference model. Results indicate that the new crawfish products should be marketed as a high-quality fresh soup base or seafood stuffing, priced between 30% and 50% of the cost of fresh crawfish tail meat.

The three articles in this invited paper session examine value-added strategies related to agriculture and food at the state and federal level designed to enhance rural development. Two of the papers dealt with the GO TEXAN program and the other with organic agriculture. All three papers were well written and interesting, but all three also shed light on the problem of using classical economic theory to interpret differentiated agriculture and food products as opposed to undifferentiated commodities.

There has been a lot of research into the economic contribution of the periphery to European economic development during the early modern era. This paper estimates quantitatively the value added in the sugar trade from the Caribbean to Britain in the 18th century. The trade generated a value equivalent to around 1 per cent of British gross domestic product (GDP) by the early 18th century, growing to 4 per cent of GDP a century later. The results show that the sugar trade constituted a dynamic and rapidly growing part of the British economy, most importantly the tertiary sector.

The product. Aonla (Emblica officinalis Geartn), the king of arid fruits, popularly known as “Indian gooseberry”, is a small-sized minor subtropical fruit grown widely in North India. India ranks first in the world in aonla area and production volume. It is considered to be a “wonder fruit for health” because of its unique properties. Uses. Aonla fruit is very useful in treating many diseases such as diabetes, cough, asthma, bronchitis, headache, dyspepsia, colic, flatulence, skin diseases, leprosy, jaundice, scurvy, diarrhea and cancer. Packaging. Different packaging materials such as nylon net, perforated polyethylene bags, ventilated corrugated fiber boxes, gunny bags, wooden crates, etc., can be used for prolonging the storage life of fruit. Storage. Refrigerated storage helps in enhancing the storage life of fruit. Value addition. There are numerous products such as aonla squash, candy, jam, chutney, etc., which are prepared from aonla fruit. Inclusion of these products in the diet definitely helps in improving the nutritional value of Indian meals. Discussion. The low cost of the products as well as good sensory, nutritional and shelf life qualities mean that processed aonla products are appropriate for commercialization. In order to obtain a good income from aonla, it must be sold immediately in the market; if not, to make profit, proper storage facilities should be available.

In this paper I consider the relation between gross output– and value added–based total factor productivity (TFP) measures. It appears that, without any (micro-)economic theory being required, a conditional relationship between TFP indices can be derived, in which the Domar factor plays an important role. At the same time it turns out that gross output– and value added–based TFP indicators (difference-type measures) always coincide. In the Divisia index framework and maintaining the classical assumptions (profit maximization and a production technology that exhibits globally constant returns to scale), it appears that both TFP indices measure technological change, albeit in a dual way. In establishing this result, no separability assumptions are involved. Both indices are in general path-dependent. Path independence of the gross output–based TFP index requires that the technology exhibit Hicks input neutrality, whereas path independence of the value added–based TFP index requires Hicks value-added neutrality. These two concepts of neutrality are, however, not dual.