Joost M. E. Pennings

Maastricht University

Full Professor

P.O. Box 616

Maastricht, 6200MD

Netherlands

http://marketing-finance.nl/cv/cvpennings.pdf

Wageningen UR

Full Professor

Hollandseweg 1

Wageningen, 6706KN

Netherlands

http://marketing-finance.nl/cv/cvpennings.pdf

University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics

Full Professor

1301 W. Gregory Drive

326 Mumford Hall MC-710

Urbana, IL 61801

United States

http://marketing-finance.nl/cv/cvpennings.pdf

SCHOLARLY PAPERS

50

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10,016

SSRN CITATIONS
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Top 12,147

in Total Papers Citations

32

CROSSREF CITATIONS

49

Scholarly Papers (50)

1.

Behavioral Portfolio Analysis of Individual Investors

Number of pages: 45 Posted: 24 Jun 2010 Last Revised: 05 Oct 2010
Arvid O. I. Hoffmann, Hersh Shefrin and Joost M. E. Pennings
University of Adelaide - Business School, Santa Clara University - Leavey School of Business and Maastricht University
Downloads 2,222 (6,466)
Citation 17

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Behavioral Portfolio Theory, Investment Decisions, Investor Performance, Behavioral Finance

2.

Individual Investor Perceptions and Behavior During the Financial Crisis

Journal of Banking and Finance, 37(1), pp. 60-74
Number of pages: 42 Posted: 02 Dec 2010 Last Revised: 13 Jan 2015
Arvid O. I. Hoffmann, Thomas Post and Joost M. E. Pennings
University of Adelaide - Business School, Maastricht University - School of Business and Economics - Department of Finance and Maastricht University
Downloads 946 (24,888)
Citation 14

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Investor Perceptions, Investor Behavior, Investor Performance, Financial Crisis

3.

The Financial Industry's Challenge of Developing Commodity Derivatives

Office for Futures and Options Research (OFOR), Working Paper No. 99-01
Number of pages: 27 Posted: 24 Sep 1999
Joost M. E. Pennings and Matthew T.G. Meulenberg
Maastricht University and Wageningen UR
Downloads 663 (40,764)
Citation 1

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4.

Relationship Marketing's Role in Managing the Firm-Investor Dyad

Journal of Business Research, Vol. 64, Issue 8, pp. 896-903
Number of pages: 33 Posted: 15 Dec 2008 Last Revised: 24 May 2011
Arvid O. I. Hoffmann, Joost M. E. Pennings and Simone Wies
University of Adelaide - Business School, Maastricht University and Leibniz Institute for Financial Research SAFE
Downloads 559 (50,961)

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Marketing-Finance Interface, Investor Relations, Role of Marketing, Market-Based Assets

5.

How Investor Perceptions Drive Actual Trading and Risk-Taking Behavior

Journal of Behavioral Finance, 16 (1), pp. 94-103. 2015
Number of pages: 24 Posted: 06 Dec 2011 Last Revised: 25 Mar 2015
Arvid O. I. Hoffmann, Thomas Post and Joost M. E. Pennings
University of Adelaide - Business School, Maastricht University - School of Business and Economics - Department of Finance and Maastricht University
Downloads 529 (54,748)
Citation 1

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individual investors, return expectations, risk perception, risk tolerance, stock trading, risk-taking behavior

6.

Assessing the Construct Validity of Risk Attitude

Management Science, Vol. 46, No. 10, pp. 1337-1348, 2000
Number of pages: 32 Posted: 10 Jun 2003
Joost M. E. Pennings and A. Smidts
Maastricht University and Erasmus Research Institute of Management (ERIM)
Downloads 514 (56,707)
Citation 5

Abstract:

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Managerial Decision Making Under Risk, Risk Attitude, Utility Theory, Psychometric Scaling, Nomological Validity, Price Risk

7.

Commodity Futures Contract Viability: A Multidisciplinary Approach

Office for Futures and Options Research (OFOR), Working Paper No. 99-02
Number of pages: 40 Posted: 24 Sep 1999
Joost M. E. Pennings and Raymond M. Leuthold
Maastricht University and University of Illinois @ Urbana-Champaign
Downloads 473 (62,903)

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The Shape of Utility Functions and Organizational Behavior

ERIM Report Series Reference No. ERS-2002-18-MKT
Number of pages: 21 Posted: 20 Feb 2003
Joost M. E. Pennings and A. Smidts
Maastricht University and Erasmus Research Institute of Management (ERIM)
Downloads 423 (71,354)
Citation 2

Abstract:

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organizational behavior, risk aversion, prospect theory, utility theory

The Shape of Utility Functions and Organizational Behavior

Management Science, Forthcoming
Posted: 09 Sep 2003
Joost M. E. Pennings and A. Smidts
Maastricht University and Erasmus Research Institute of Management (ERIM)

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Heterogeneity in Utility Functions; Organizational Behavior; S-shaped Utility Function, Real Decision Makers, Reference Points

9.

Smart Shopping Carts: How Real-Time Feedback Influences Spending

Van Ittersum, Koert, Brian Wansink, Joost M.E. Pennings, and Daniel Sheehan (2013), “Smart Shopping Carts: How Real-Time Feedback Influences Spending,” Journal of Marketing, 77:6, 21-36.
Number of pages: 48 Posted: 22 Jul 2013 Last Revised: 30 Apr 2017
Koert van Ittersum, Brian Wansink, Joost M. E. Pennings and Daniel Sheehan
University of Groningen, Cornell University, Maastricht University and Georgia Institute of Technology
Downloads 341 (92,473)
Citation 1

Abstract:

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real-time spending feedback, grocery shopping behavior, smart shopping carts, budget shoppers, nonbudget shoppers

10.

Channel Contract Behavior: The Role of Risk Attitudes, Risk Perceptions, and Channel Members' Market Structures

Pennings, Joost M.E. and Brian Wansink (2004), “Channel Contract Behavior: The Role of Risk Attitudes, Risk Perceptions, and Channel Member Market Structures,” Journal of Business, 77:4 (October), 697-723.
Number of pages: 51 Posted: 09 Jun 2003 Last Revised: 30 Apr 2017
Joost M. E. Pennings and Brian Wansink
Maastricht University and Cornell University
Downloads 335 (94,308)
Citation 7

Abstract:

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Marketing Channel, contracts, risk attitude, risk perception

11.

Hedging Behavior in Small and Medium-Sized Enterprises: The Role of Unobserved Heterogeneity

Number of pages: 53 Posted: 24 May 2003
Joost M. E. Pennings and Philip Garcia
Maastricht University and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 310 (102,754)
Citation 2

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Derivatives Usage, Hedging Behavior, Unobserved Heterogeneity

12.

A Behavioral Approach Towards Futures Contract Usage

OFOR Working Paper No. 00-08
Number of pages: 29 Posted: 03 Nov 2000
Joost M. E. Pennings and Raymond M. Leuthold
Maastricht University and University of Illinois @ Urbana-Champaign
Downloads 292 (109,641)
Citation 1

Abstract:

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13.

An European Perspective on Research in Agricultural Futures Markets: Past, Present and Future

Univ. of Illinois, Agricultural & Cons. Economics Working Paper No. 02-50
Number of pages: 22 Posted: 23 Jan 2003
Joost M. E. Pennings
Maastricht University
Downloads 271 (118,573)
Citation 1

Abstract:

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Agricultural futures markets, hedging theory, research models

A Note on Modeling Consumer Reactions to a Crisis: The Case of the Mad Cow Disease

Pennings, Joost M.E., Brian Wansink, and Matthew M.E. Meulenberg (2002), “A Note on Modeling Consumer Reactions to a Crisis: The Case of the Madcow Disease,” International Journal of Research in Marketing, 19:2 (March), 91-100.
Number of pages: 28 Posted: 17 Mar 2003 Last Revised: 30 Apr 2017
Joost M. E. Pennings, Brian Wansink and Matthew T.G. Meulenberg
Maastricht University, Cornell University and Wageningen UR
Downloads 265 (120,819)
Citation 5

Abstract:

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Consumer reactions, Crisis, Risk Attitude, Risk Perception

A Note on Modeling Consumer Reactions to a Crisis: The Case of the Mad Cow Disease

International Journal of Research in Marketing, Vol. 19, 2002
Posted: 14 Mar 2003
Joost M. E. Pennings, Brian Wansink and Matthew T.G. Meulenberg
Maastricht University, Cornell University and Wageningen UR

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Consumer reactions, Crisis, Risk Attitude, Risk Perception

15.

A Marketing-Finance Approach Towards Industrial Channel Contract Relationships: A Model of Application

Journal of Business Research, Vol.57, No. 6, pp. 601-609, June 2004
Number of pages: 31 Posted: 04 Oct 2005
Joost M. E. Pennings
Maastricht University
Downloads 232 (138,968)

Abstract:

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Cash flows, Channel contract relationships, Marketing-finance interface, risk management

16.

The Poverty Challenge: How Individual Decision-Making Behavior Influences Poverty

Economics Letters, 2005
Number of pages: 9 Posted: 03 Feb 2005
Joost M. E. Pennings and Philip Garcia
Maastricht University and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 221 (145,657)

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Poverty, Decision Making Behavior, Research Approach

17.

Towards a Theory of Revealed Economic Behavior: The Economic-Neurosciences Interface

Journal of Bioeconomics, Forthcoming
Number of pages: 23 Posted: 04 Jan 2005
Joost M. E. Pennings, Philip Garcia and Eligius Hendrix
Maastricht University, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and Wageningen UR - School of Social Sciences
Downloads 218 (147,510)

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revealed behavior, economics, neurosciences, synthesis, decision-making model

18.

Futures Exchange Innovations: Reinforcement Versus Cannibalism

Office for Futures and Options Research (OFOR), Working Paper No. 99-03
Number of pages: 33 Posted: 24 Sep 1999
Joost M. E. Pennings and Raymond M. Leuthold
Maastricht University and University of Illinois @ Urbana-Champaign
Downloads 218 (147,510)

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19.

The Role of Market Advisory Services in Crop Marketing and Risk Management: A Preliminary Report of Survey Results

AgMas Report 2001-02
Number of pages: 63 Posted: 19 May 2001
Joost M. E. Pennings, Darrel L. Good and Scott H. Irwin
Maastricht University, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 198 (161,481)
Citation 2

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20.

Hedging Revisited: Resolving Contractual Conflicts

Office for Futures and Options Research Working Paper No. 00-01
Number of pages: 21 Posted: 13 Jul 2000
Joost M. E. Pennings and Raymond M. Leuthold
Maastricht University and University of Illinois @ Urbana-Champaign
Downloads 184 (172,629)

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21.

Surveying Farmers: A Research Note

Number of pages: 15 Posted: 10 Oct 2000
Joost M. E. Pennings, Scott H. Irwin and Darrel L. Good
Maastricht University, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 136 (222,807)

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22.

Time-Varying Hedge Ratios: A Principal-Agent Approach

Journal of Agricultural Economics, Forthcoming
Number of pages: 20 Posted: 04 Oct 2005
Wageningen UR - Economics of Consumers and Households, Wageningen UR, Maastricht University and Wageningen UR
Downloads 134 (225,445)

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Hedging, Principal-Agent Theory, Time Series, Futures

23.

Trying Harder and Doing Worse: How Grocery Shoppers Track In-Store Spending

Van Ittersum, Koert, Joost M.E. Pennings, and Brian Wansink (2010), “Trying Harder and Doing Worse: How Grocery Shoppers Track In-Store Spending,” Journal of Marketing, 74:2 (April), 90-104.
Number of pages: 38 Posted: 03 Feb 2010 Last Revised: 30 Apr 2017
Koert van Ittersum, Joost M. E. Pennings and Brian Wansink
University of Groningen, Maastricht University and Cornell University
Downloads 91 (296,279)

Abstract:

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budget shoppers, in-store spending behavior, mental computation, basket estimation, retail price setting

24.

The Validity of Attribute-Importance Measurement: A Review

Journal of Business Research, Vol. 60, 2007
Number of pages: 15 Posted: 05 Feb 2010 Last Revised: 17 Feb 2010
Koert van Ittersum, Joost M. E. Pennings, Brian Wansink and Hans Van Trijp
University of Groningen, Maastricht University, Cornell University and Independent
Downloads 50 (407,728)

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Attribute Importance, Measurement, Convergent Validity, Nomological Validity, Discriminant Validity

25.

The Relationship between Attribute Importance and Attribute-Valuation Functions

Organizational Behavior and Human Decision Processes, 119, 89-102, September 2012
Number of pages: 15 Posted: 07 Sep 2012
Koert van Ittersum and Joost M. E. Pennings
University of Groningen and Maastricht University
Downloads 49 (411,254)

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Attribute importance, Validity, Global and local interpretations of attribute importance, Attribute-value functions

26.

Heterogeneity in the Likelihood of Market Advisory Service Use by U.S. Crop Producers

Agribusiness: An International Journal, Vol. 21, No. 1, pp. 109-128, January 2005
Number of pages: 39 Posted: 04 Oct 2005
Maastricht University, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and Virginia Polytechnic Institute and State University
Downloads 47 (418,463)

Abstract:

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Marketing advisory services, marketing philosophy, mixture model, financial performance, heterogeneity, risk attitudes, crop producers

27.

Trying Harder and Doing Worse: How Grocery Shoppers Track Their In-Store Spending

Van Ittersum, Koert, Joost ME Pennings, and Brian Wansink. "Trying harder and doing worse: How grocery shoppers track in-store spending." Journal of Marketing 74.2 (2010): 90-104.
Number of pages: 4 Posted: 30 Jul 2014
Koert van Ittersum, Joost M. E. Pennings and Brian Wansink
University of Groningen, Maastricht University and Cornell University
Downloads 40 (445,796)

Abstract:

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28.

Channel Contract Behavior: the Role of Risk Attitudes, Risk Perceptions, and Channel Member Market Structures

Journal of Business, Vol. 77, No. 4, 2004
Number of pages: 28 Posted: 02 Aug 2014
Joost M. E. Pennings and Brian Wansink
Maastricht University and Cornell University
Downloads 26 (512,289)

Abstract:

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29.

Improving Attribute-Importance Measurement: A Reference-Point Approach

Advances in Consumer Research 31 (2004): 84-85
Number of pages: 2 Posted: 02 Aug 2014
Koert van Ittersum, Joost M. E. Pennings, Brian Wansink and Hans Van Trijp
University of Groningen, Maastricht University, Cornell University and Independent
Downloads 16 (572,786)

Abstract:

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30.

Consumer Reactions to a Crisis

Pennings, Joost M. E., Brian Wansink, and Matthew T. G. Meulenberg. 2002. "A note on modeling consumer reactions to a crisis: The case of the mad cow disease," International Journal of Research in Marketing, 19(1): 91-100.
Number of pages: 16 Posted: 12 Jan 2016 Last Revised: 27 Apr 2017
Joost M. E. Pennings, Brian Wansink and Matthew T.G. Meulenberg
Maastricht University, Cornell University and Wageningen UR
Downloads 12 (599,035)

Abstract:

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risk response, consumer behavior, mad cow disease, creutzfeldt-jakob disease, bovine spongiform encephalopathy, crisis response, marketing, consumer reactions, risk attitude, risk perception

31.

Harnessing a ‘Currency Matrix’ for Performance Measurement in Cooperatives: A Multi-Phased Study

Sustainability 2018, 10, 4536
Number of pages: 40 Posted: 24 Dec 2019
Theo Benos, Nikos, Martin Wetzels, Ko de Ruyter and Joost M. E. Pennings
Maastricht University, affiliation not provided to SSRN, Maastricht School of Business and Economics, Maastricht University - Department of Marketing & Supply Chain Management and Maastricht University
Downloads 1 (683,098)

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Performance Measurement; Cooperatives; Extensive Review; Delphi Method; Interdisciplinary Dialogue; Social Enterprises; Socio-Economic Impact

32.

Measuring Producers' Risk Preferences: A Global Risk‐Attitude Construct

American Journal of Agricultural Economics, Vol. 83, Issue 4, pp. 993-1009, 2001
Number of pages: 17 Posted: 24 Mar 2020
Joost M. E. Pennings and Philip Garcia
Maastricht University and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 0 (700,513)
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expected utility, futures usage, global risk‐attitude construct, multi‐item scale, second‐order factor analysis, validity, D810, Q120

33.

The Role of Farmers' Behavioral Attitudes and Heterogeneity in Futures Contracts Usage

American Journal of Agricultural Economics, Vol. 82, Issue 4, pp. 908-919, 2000
Number of pages: 12 Posted: 24 Mar 2020
Joost M. E. Pennings and Raymond M. Leuthold
Maastricht University and University of Illinois @ Urbana-Champaign
Downloads 0 (700,513)
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covariance structure model, measurement error, segments, futures usage, Q120, Q140

34.

Understanding Producers’ Motives for Adopting Sustainable Practices: The Role of Expected Rewards, Risk Perception, and Risk Tolerance

European Review of Agricultural Economics, Jan 2016
Posted: 19 Jul 2016
Andrés Trujillo-Barrera, Joost M. E. Pennings and Dianne Hofenk
Wageningen UR, Maastricht University and Independent

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Motives, Adoption of Sustainable Practices, Expected Rewards, Risk Perception, Risk Tolerance

35.

The Impact of Market Advisory Service Recommendations on Producers' Marketing Decisions

Journal of Agricultural and Resource Economics, Forthcoming
Posted: 23 Jun 2004
Maastricht University, Virginia Polytechnic Institute and State University, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics

Abstract:

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Market advisory services, ordered probit model, producers' marketing decisions

36.

A Behavioral Decision-Making Modeling Approach Towards Hedging Services

Journal of Behavioral Finance, Vol. 4, No. 2, September 2003
Posted: 17 Nov 2003
Joost M. E. Pennings, Math J. J. M. Candel and Thorsten M. Egelkraut
Maastricht University, Maastricht University - Department of Statistics and Oregon State University - Department of Applied Economics

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Choice Process, Cognitive Decision Models, Futures, Multivariate Statistics, Structural Equation Models

37.

Hedging Behavior in Small and Medium-Sized Enterprises: The Role of Unobserved Heterogeneity

Journal of Banking & Finance, Forthcoming
Posted: 24 May 2003
Joost M. E. Pennings and Philip Garcia
Maastricht University and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics

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Derivatives Usage, Hedging Behavior, Unobserved Heterogeneity

38.

Introducing New Futures Contracts: Reinforcement Versus Cannibalism

Journal of International Money & Finance, Vol. 20, 2001
Posted: 15 Jan 2003
Joost M. E. Pennings and Raymond M. Leuthold
Maastricht University and University of Illinois @ Urbana-Champaign

Abstract:

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39.

Pulling the Trigger or Not: Factors Affecting Behavior of Initiating a Position in Derivatives Markets

Journal of Economic Psychology, No. 23, 2002
Posted: 12 Dec 2002
Joost M. E. Pennings
Maastricht University

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40.

Surveying Farmers: A Case Study

Review of Agricultural Economics, Vol. 24, pp. 266-277, 2002
Posted: 23 Nov 2002
Joost M. E. Pennings, Scott H. Irwin and Darrel L. Good
Maastricht University, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics

Abstract:

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41.

The Role of Farmer's Behavioral Attitudes and Heterogeneity in Futures Contracts Usage

American Journal of Agricultural Economics, Vol. 82, No. 4, November 2000
Posted: 01 Oct 2001
Joost M. E. Pennings and Raymond M. Leuthold
Maastricht University and University of Illinois @ Urbana-Champaign

Abstract:

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42.

Environmental Rights on the Futures Markets: An Application to the Dutch Manure Market

ENVIRONMENTAL AND RESOURCE ECONOMICS,1995
Posted: 26 Oct 1999
Joost M. E. Pennings, Matthew T.G. Meulenberg and Willem J.M. Heijman
Maastricht University, Wageningen UR and Wageningen Agricultural University

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43.

Futures Markets, Price Stabilization and Efficient Exploitation of Exhaustible Resources

ENVIRONMENTAL AND RESOURCE ECONOMICS
Posted: 20 Dec 1998
Erwin H. Bulte, Joost M. E. Pennings and Willem J.M. Heijman
Tilburg University - Department of Economics, Maastricht University and Wageningen Agricultural University

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44.

Managing Resource Price Risk: Futures Markets, Sustainability and Efficiency

Posted: 10 Oct 1998
Erwin H. Bulte, Joost M. E. Pennings and Willem J.M. Heijman
Tilburg University - Department of Economics, Maastricht University and Wageningen Agricultural University

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45.

The Information Dissemination Process of Futures Exchange Innovations: A Note

Journal of Business Research, 1998
Posted: 10 Sep 1998
Joost M. E. Pennings
Maastricht University

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46.

The Dimensions of Rights: A Classification of Environmental Rights and Production Rights

European Journal of Law and Economics, Vol. 4, No. 1, 1997.
Posted: 28 May 1998
Joost M. E. Pennings, Willem J.M. Heijman and Matthew T.G. Meulenberg
Maastricht University, Wageningen Agricultural University and Wageningen UR

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47.

New Futures Markets in Agricultural Production Rights: Possibilities and Constraints for the British and Dutch Milk Quota Markets

Journal of Agricultural Economics
Posted: 20 Feb 1998
Joost M. E. Pennings and Matthew T.G. Meulenberg
Maastricht University and Wageningen UR

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48.

Environmental and Production Rights Futures: A New Booming Market?

Derivatives Quarterly
Posted: 14 Oct 1997
Joost M. E. Pennings and Matthew T.G. Meulenberg
Maastricht University and Wageningen UR

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49.

A Note on Overfishing, Fishing Rights and Futures Markets

EUROPEAN J. OF LAW AND ECONOMICS
Posted: 19 Jun 1997
Erwin H. Bulte and Joost M. E. Pennings
Tilburg University - Department of Economics and Maastricht University

Abstract:

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50.

The Price Path Due to Order Imbalances: Evidence from the Amsterdam Agricultural Futures Exchange

European Financial Management
Posted: 08 May 1997
Maastricht University, Wageningen UR, Carnegie Mellon University - David A. Tepper School of Business and Wageningen UR

Abstract:

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