Tim Richards’ research focuses on applied econometrics with respect to food markets and food policy issues, particularly quantitative marketing, data analytics, retailing strategy, agricultural labor and food policy. Richards is the Morrison Chair in Agribusiness in the W. P. Carey School of Business and teaches managerial economics, strategic pricing for retailers, and risk management and insurance. He also does extensive consulting work in the food retailing and manufacturing industries for clients that include Walmart, Kroger, SuperValu, Hormel, Sara Lee, JBS Swift, Foster Farms, and a number of others.
U.S. consumers pay for the lion's share of the tariff impact because the demand for tomatoes in the U.S. is relatively inelastic, meaning that consumers do not change how much they purchase in response to higher prices.
- Tomatoes from Mexico could soon get a lot more expensive in U.S.