Crop production is subject to supply shocks, and both expected and realized outputs as well as output prices are unknown when inputs are chosen. The process by which producers form expectations is difficult to model, especially when working with aggregate data. We present a necessary and...

This article reviews the major contributions of agricultural and resource economists in the area of econometrics over the past 100 years. Early on, a number of agricultural economists were in on the ground floor in terms of developing new econometric methods. Over time as the economics...