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Short- and long-run Hicksian and Marshallian elasticities are estimated, along with Morishima elasticities of substitution, using a restricted profit function and a series of decomposition equations. Convexity in prices and concavity in quasi-fixed factors of the restricted profit function are...
Persistent link: https://www.econbiz.de/10005500250
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This paper examines the forces that affected the Northeastern fresh tomato supply in the post-WWII period. A simultaneous equation model is developed which incorporates a composite price expectation model, supply response, and factors affecting regional price. Findings reveal that data are...
Persistent link: https://www.econbiz.de/10005500255
HFCS producers. Furthermore, the welfare impact of U.S. sugar policy options on domestic consumers and food processors will …
Persistent link: https://www.econbiz.de/10005500258
In this paper we estimate the price and income elasticities for five sweet spreads using a two-stage budgeting procedure. The first stage modeled the consumer's budget decision as a Tobit model, where total sweet spread expenditures are based on income and demographic variables. The second...
Persistent link: https://www.econbiz.de/10005500259
A new interpretation of commodity futures price theory is evaluated because, currently, many products exhibit price behavior which cannot be explained with existing theory. A method for classifying products according to the particular price theory relevant to them is provided. The classification...
Persistent link: https://www.econbiz.de/10005500289
examine whether or not this is an important factor for forecast accuracy and public policy. …
Persistent link: https://www.econbiz.de/10005500319
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Milk supply response by dairy farmers in Delaware was analyzed employing d1stnbuted lag price structures for number of milk cows and milk production per cow. A polynominal distributed lag model is fitted to quarterly data with deflated prices for the period 1966 to 1978. The variations in the...
Persistent link: https://www.econbiz.de/10011199733