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Improving the competitiveness of East Africa's rice industries necessitates increased and viable production of rice of the quality desired by consumers. This paper aims to understand consumer preferences for rice quality attributes in Uganda and Kenya to inform the countries' rice breeding programs and value chain development interventions.

Rice samples are obtained from retail markets in various districts/counties across the two countries. The samples are analyzed in a grain quality laboratory for the rice's physicochemical characteristics and the resulting data are used to non-parametrically estimate hedonic price functions. District/county dummies are included to account for potential heterogeneity in consumer preferences.

Ugandan consumers are willing to pay a price premium for rice with a relatively high proportion of intact grains, but the consumers discount chalkiness. Kenyan consumers discount high amylose content and impurities. There is evidence of heterogeneity in consumer preferences for rice in Mbale, Butaleja and Arua districts of Uganda and in Kericho and Busia counties of Kenya.

The study makes a novel contribution to the literature on consumer preferences for rice in East Africa by applying a hedonic pricing model to the data generated from a laboratory analysis of the physicochemical characteristics of rice samples obtained from the market. Rather than base our analysis on consumers' subjective sensory assessment of the quality characteristics of rice, standard laboratory methods are used to generate the data, which enables a more objective assessment of the relationship between market prices and the quantities of attributes present in the rice samples.

Improving milling quality is expected to improve the quality of domestic rice and hence the competitiveness of Uganda's rice industry. Therefore, this study aims to assess the determinants of four aspects of milling, namely, choice of milling technology, millers' perceptions of the importance of paddy quality attributes, milling return and milling capacity.

Multinomial logit, semi-nonparametric extended ordered probit, linear regression and additive nonparametric models are applied to cross-sectional data obtained from a sample of 196 rice millers.

Physical, economic, institutional, technological and sociodemographic factors are found to be important determinants of the four aspects of milling. Physical factors include the distance of the mill from major town and availability of storage space at the milling premises, while economic factors include milling charge and backward integration of miller into paddy production. Contracting and use of a single-pass mill are important institutional and technological factors, respectively, and miller's household size, age, gender and education are the key sociodemographic variables.

The study's originality lies in its scope, especially in terms of its breadth. Without compromising the needed analytical rigor, it focuses on four aspects of milling that are critical to improving the marketing of Uganda's rice. In doing so, it provides a holistic understanding of this segment of the value chain and offers specific recommendations for improving the marketing of Uganda's rice.

The purpose of this paper is to evaluate Alberta’s cattle loan guarantee program. It measures the risk premiums on lending that would accrue to banks participating in the program, estimates the value (price) of the loan guarantee, and estimates the interest subsidy provided by the program.

A cash flow model of cattle feeding is used. The model estimates a measure of risk that is applied to option pricing models to estimate the value of the guarantee.

Insurance premiums for the credit risk to lenders are 0.20 percent of the value of the loan for the entire feeding period, and 0.41 percent for backgrounding but negligible for finishing. The price of the loan guarantee estimated by the Black-Scholes model is 4.43 percent of the value of the loan and is comparable to prices estimated by the binomial model. The program provides a subsidy rate of 4.58 percent.

Charging a guarantee fee can potentially eliminate the interest subsidy inherent in the program. But this would necessitate determining the impact of the guarantee fee on the additional access to credit that has been achieved through the program.

Different levels of risk for backgrounding and finishing imply different risk premiums on cattle loans. Therefore interest on cattle loans should reflect not only the individual farmer’s risk profile but also the nature of the feeding operation.

This is the first paper to simultaneously estimate risk premiums on cattle feeding loans, the value of the loan guarantee provided by the Alberta Feeder Association Loan Guarantee Program, and the inherent interest subsidy.

Tourism systems have been considered more and more in the light of complexity and chaos theories. Most of the work done in this area has highlighted the reasons for and the issues regarding this approach. A steadily growing strand of the recent literature uses the theories to overcome the problems of a reductionist and mechanistic view that is considered unable to provide a full understanding of the structural and dynamic characteristics of tourism systems, and specifically of tourism destinations. This paper seeks to continue this approach and to provide a series of quantitative methods to assess the dynamics of non‐linear complex tourism systems.

The time series used in the paper contains data collected from a sample of 23 large (four‐star) hotels located in Milan, Italy. For each structure daily data of occupancy, average room rate and RevPAR (revenue per available room) were recorded for the period 2006‐2009. The daily distributions of these observations are highly skewed, and therefore the median of the daily values were considered. This results in three series of 1,461 points per type (occupancy, room rate and RevPAR).

The data confirm the complex nature of the destination system and its tendency towards a chaotic state. Additionally, high stability and long memory effects are detected. The outcomes and the implications of this analysis are examined.

A comparison of the values obtained leads to the conclusion that the series under study has a detectable level of non‐linearity, even if it does not reach the pure chaoticity of the Lorenz attractor. A first conclusion is that, as qualitatively assessed in many similar studies, the tourism destination is a complex system with a tendency to become chaotic.

The picture obtained with the analyses conducted can be summarised by saying that the system under study exhibits an unequivocally complex nature. It tends towards a chaotic stage but does so at a slow pace. The stability of the system is quite high: it might be able to resist transient shocks well but, once led in one direction, its long memory characteristics tend to keep it on the resulting path.

Neoclassic economics is a thing of considerable beauty. It yet finds an increasing tendency on the part of those trained in its discipline to rebel from its neatly fitted abstractions and intriguing diagrams. The rebellion stems from two sources. Veblen's sweeping attacks upon its postulates¹⁶ shock its theoretical foundations. The rapid changes in the industrial and business world discredited it on another front by bringing into increasingly sharp relief the divergence between the institutional assumptions of the orthodox theory and the conditions actually obtaining. The giant corporation, overhead costs, and the necessity for maintenance of volume, industrial concentration, the trade association, a widening spread among income classes, advertising, the growing inability of the consumer to gauge quality, the resort to reorganization instead of the “going out of business” of the long-run analyses – what place could the orthodox theory give to these important characteristics of the existing business economy?