Naïve and adaptive schemes have been used as proxies for price expectations in previous studies of supply response. Those studies contain mixed formulas of futures, support, and lagged prices as alternative formulations for price expectations. This study uses a conditional expected price which...

The consequences of frequently used price expectation models are analyzed by comparing the responsiveness of U.S. corn and soybean acreages to six alternative formulations. The trade-off between bias and variance associated with these forecasts is investigated. The results of this study have...

This study develops and analyzes a conceptual model of inter-industry economic flows for state economies with attention focused on the role of producing and processing of agricultural products in the overall economy. Three types of multipliers-impact, interim, and total multipliers-are...