Missing agricultural price data: an application of mixed estimation

This article shows the convenience of combining the Country-Product- Dummy (CPD) model and the Theil-Goldberger (TG) mixed estimator to obtain better estimates of missing prices than those obtained by marginal mean imputation. We use the TG estimator to combine aggregate price data for regions of Ecuador with producer-level data (the sample data) to fill-in the missing price observations. Our results show better price estimates for predicting missing data than estimates obtained from using the CPD model on the sample data only. Through this approach, missing data can be replaced with economically meaningful data.