Phillips, Owen R.

By: Ritten, Chian Jones; Bastian, Christopher T.; Gerace, Selena; Phillips, Owen R.; Nagler, Amy
The number of women in agricultural management positions and as business owners is increasing. A critical part of agricultural managers' success is negotiating profitable sales, which depends on negotiation strategy. We use laboratory market experiments to measure gender differences in negotiation strategy and related outcomes in three market contexts common to agricultural product sales. Results show that women tend to choose a negotiation strategy that focuses on trading a higher quantity but at a lower per trade profit than men. Our results further show that women will be disproportionately hurt as agricultural markets move away from traditional market environments toward privately negotiated contracts.
By: Menkhaus, Dale J.; Bastian, Christopher T.; Phillips, Owen R.; O’Neill, Patrick D.
Laboratory methods are used to investigate the impacts of supply and demand risks in a forward market on prices, quantities traded, and earnings when the choice of transacting in a forward or spot market is endogenous. Forward market activity dominates spot trading, with 80-90% of the trades taking place in the forward market regardless of how risk arises. Buyer earnings tend to be higher than earnings for sellers when there is risk. A correspondence exists between risk type and the relative increase in buyer earnings. Buyer earnings increase significantly when demand is random, and also when both supply and demand are random.