The U.S. Congress and courts have directed federal natural resource agencies to use better information for management decisions than they have used in the past. It is also important for these agencies to improve the efficiency of resource use where possible. This information economics study...

This paper uses the Pagano-Hartley procedure to estimate the lag length and polynomial degree for the case of a quarterly hog supply equation. The results show that the nicely humped shapes which materialize when using the Almon lag may be caused by the failure in accounting for autocorrelation...

Functional form selection is a sometimes neglected aspect of applied research in production analysis. To provide an improved and uniform basis for form selection, a number of traditional and popular functional forms are catalogued with respect to intrinsic properties. Guidelines for the conduct...

This article applies recent developments in time-series modeling to analyze the retail prices of beef, pork, and chicken. Specifically, generalized autoregressive conditional heteroscedasticity (GARCH) models were fitted to these data to determine if, unlike more traditional time-series models,...

The problem of determining whether quadratic programming models possess either unique or multiple optimal solutions is important for empirical analyses which use a mathematical programming framework. Policy recommendations which disregard multiple optimal solutions (where they exist) are...

Recently, several problems with elicited utility functions have emerged. This paper concerns a fundamental problem in risk preference classification with elicited data. For the sample in this research, different functional forms resulted in reversals in preference classifications. This paper...

Statistical procedures are developed for reducing the number of autonomous state variables in stochastic dynamic optimization models when these variables follow a stationary process over time. These methods essentially delete part of the information upon which decisions are based while...

Choice between alternative flexible functional forms has received little explicit treatment in many empirical agricultural studies. Theoretical criteria and empirical techniques for choosing between flexible functional forms are reviewed. Theoretical topics include definitions of flexibility,...