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Beef Industry Concerns in 2020
Tuesday Dec 15th, 2020 Beef Industry Concerns in 2020
The USDA is taking actions to address beef industry concerns. There are two things that really effected the industry this year - the coronavirus - and the huge fire at processing facility in Kansas.
USDA Undersecretary Greg Ibach recently discussed those concerns.
The U.S. Department of Agriculture (USDA) is working to address the challenges facing the beef industry. Issues facing the industry were detailed in the Boxed Beef and Fed Cattle Price Spread Investigation Report that was released in July. USDA Under Secretary for Marketing and Regulatory Programs Greg Ibach pointed out three areas to improve upon to help producers. Initiatives focusing on risk management education funding, livestock market reporting, and producer training opportunities will be emphasized.
Credit: Sergey Stepanov (HSE University)
In assessing an employee s performance, employers often listen to his immediate supervisor or colleagues, and these opinions can be highly subjective. Sergey Stepanov, an economist from HSE University, has shown that biased evaluations can actually benefit employers. An article substantiating this finding was published in the
The model described in the article Biased Performance Evaluation in A Model of Career Concerns: Incentives versus Ex-Post Optimality was developed within the career concerns framework pioneered by Bengt Holmström. His paper represents the relationship between an employee (often called an agent by economists) and an employer, or principal (broadly speaking, this can be the market as a whole). This modelling considers three components of performance: talent, effort and random factors. An agent s incentive to exert effort arises from the fact that better performance results in a higher evaluation of the agent s talen