The first chapter shows how physical, morphological, genetic, and market factors affect the price of purebred Nellore sold at auctions in Brazil. We perform a hedonic analysis under a hierarchical model to document that visual scores and EPDs explain variations in prices. A morphological index bears higher premiums than a genetic index, while auction type and reputation explain variations in prices. The second chapter quantifies the possible effects of a European Union-Mercosur Free Trade Agreement on agricultural markets. We develop a gravity model of international trade in a general equilibrium framework to investigate the effects of the FTA on selected agricultural products: chicken, cattle, pig, cotton, soybean, wheat, and maize. The results show Mercosur countries (Argentina, Brazil, Paraguay, and Uruguay) increasing their agricultural exports, especially to Europe, but with relatively small welfare gains. The European countries may reduce their exports to their fellow countries, but with more considerable welfare gains, especially in the meat sector. The third chapter investigates the economic feasibility of the Brazilian crop-livestock integration system. Under this system, the Brazilian farmer can produce soybean, corn, and cattle in the same land during one crop-year. We contrasted the stochastic net present value of traditional farming with the integrated system under four different scenarios. The results suggest more significant economic gains for crop-livestock integration scenarios.
