This paper investigates whether deregulation of the Australian wheat export market induced a structural change in the price data generation process. We examine the unit root properties of Western Australian wheat prices by testing for the possibility of single and double structural breaks in the...

Data from a western Kansas feedlot were analyzed to estimate the quantitative impacts of price and performance variables on profits per head from finishing cattle. Sale prices, feeder prices, and corn prices had the most impact on profit variability over time. Differences in sale prices, feeder...

This study investigates non-parametrically the optimizing behavior of a sample of 289 Kansas farms under profit-maximization and cost-minimization hypotheses. The study uses both deterministic and stochastic non-parametric tests. The deterministic results do not support strict adherence to...

Previous research has ignored the influence of inputs on output risk when assessing the effects of decoupled income-support payments on production decisions. This paper studies the impacts of agricultural policy decoupling on output variability and mean by explicitly considering the influence of...

Abstract: We estimate a semi-nonparametric demand system based on a multivariate version of the Muntz-Szatz series expansion which is called the Asymptotically Ideal Model (AIM). The model is applied to consumer demand for dried fruits, raisins, and dried plums. Results from the first and second...

A normalized quadratic input distance system is applied to estimate inverse demand relationships for wheat by class. Semi-nonparametric and Bayesian estimators are used to impose curvature on inputs and outputs. Price flexibilities are estimated for hard red winter, hard red spring, soft red...

This research examines the empirical properties of duality theory. A comparison of the Hessian matrices calculated from the normalized unrestricted and restricted profit, and production functions indicate that duality is highly sensitive to measurement error and relative price variability....