000061639 001__ 61639
000061639 005__ 20170825170425.0
000061639 037__ $$a320-2016-10483
000061639 041__ $$aen
000061639 245__ $$aEconomic Efficiency of Ethanol Plants in the US North Central Region
000061639 260__ $$c2010
000061639 269__ $$a2010
000061639 270__ $$mjuampase@hotmail.com$$pSesmero,   Juan P.
000061639 300__ $$a30
000061639 336__ $$aConference Paper/ Presentation
000061639 490__ $$aSelected Paper
000061639 490__ $$a10979
000061639 520__ $$aIn this study we use data envelopment analysis to decompose the overall economic
efficiency of a sample of ethanol plants into three subcomponents: technical efficiency, allocative efficiency and a new component we call marketing efficiency. The relative importance of these sources of efficiency is of particular interest given the recent history of bankruptcies, plant closings and ownership change in the industry. Results reveal that observed production units are very efficient from a technical point of view as suggested by a standard deviation of 1% in technical efficiency. However, our results also show that bigger plants tend to be more economically efficient than others. The conventional methodology would have identified this difference as coming from
allocative sources, i.e. bigger plants were correct in anticipating better relative prices and built more capacity accordingly. However introduction of a new concept we call
marketing efficiency reveals that bigger production units obtain better relative prices (through marketing contracts) than smaller production units rather than anticipating prices more accurately. This might be a potential reason underlying the recent wave of mergers and acquisitions in the industry.
000061639 542__ $$fLicense granted by Julia Kelly (jkelly@umn.edu) on 2010-05-04T21:39:59Z (GMT):

<center>  <h2> Deposit Agreement </h2> </center>
I represent that I am the creator of the digital material identified herein (&ldquo;Work&rdquo;).
I represent that the work is original and that I either own all rights of copyright 
or have the right to deposit the copy in a digital archive such as AgEcon Search. 
I represent that in regard to any non-original material included in the Work I have
secured written permission of the copyright owner (s) for this use or believe this 
use is allowed by law. I further represent that I have included all appropriate 
credits and attributions. I hereby grant the Regents of the University of Minnesota
(&ldquo;University&rdquo;), through AgEcon Search, a non-exclusive right to access, reproduce, 
and distribute the Work, in whole or in part, for the purposes of security, preservation,
and perpetual access. I grant the University a limited, non-exclusive right to make
derivative works for the purpose of migrating the Work to other media or formats in
order to preserve access to the Work. I do not transfer or intend to transfer any 
right of copyright or other intellectual property to the University. If the Deposit 
Agreement is executed by the Author�s Representative, the Representative shall separately
execute the following representation: I represent that I am authorized by the Author
to execute this Deposit Agreement on behalf of the Author.

000061639 650__ $$aResource /Energy Economics and Policy
000061639 6531_ $$aethanol
000061639 6531_ $$adata envelopment analysis
000061639 6531_ $$aefficiency decomposition
000061639 6531_ $$amarketing
efficiency
000061639 700__ $$aSesmero, Juan P.
000061639 700__ $$aPerrin, Richard K.
000061639 700__ $$aFulginiti, Lilyan E.
000061639 8564_ $$s259074$$uhttp://ageconsearch.umn.edu/record/61639/files/jxHeRPGj.pdf
000061639 887__ $$ahttp://purl.umn.edu/61639
000061639 909CO $$ooai:ageconsearch.umn.edu:61639$$qGLOBAL_SET
000061639 912__ $$nSubmitted by Julia Kelly (jkelly@umn.edu) on 2010-05-04T21:46:35Z
No. of bitstreams: 1
jxHeRPGj.pdf.part.pdf: 259069 bytes, checksum: 55959e0f161fcc5a0ea53bdbbcc19bae (MD5)
000061639 912__ $$nMade available in DSpace on 2010-05-04T21:46:37Z (GMT). No. of bitstreams: 1
jxHeRPGj.pdf.part.pdf: 259069 bytes, checksum: 55959e0f161fcc5a0ea53bdbbcc19bae (MD5)
  Previous issue date: 2010
000061639 982__ $$gAgricultural and Applied Economics Association>2010 Annual Meeting, July 25-27, 2010, Denver, Colorado
000061639 980__ $$a320