A misspecification testing strategy designed to ensure that the statistical assumptions underlying a system of equations are appropriate is outlined. The system tests take into account information in, and interactions between, all equations in the system and can be used in a wide variety of...

Information has been proven to have significant impacts on consumers' behavior and willingness to pay (WTP). In this study, information on GM soybean oil is given in the form of real-life cases involving GM food. These cases recorded from actual media reports. Using a hybrid of the...

We present an inverse demand that can be estimated in a linear form. The model is derived from a specification of the distance function which is parametrically similar to the cost function underlying the Almost Ideal Demand System. Simulation results suggest that this linear inverse demand...

This study uses an error correction model (ECM) to investigate dynamics in farm-retail price relationships. The ECM is a more general method of incorporating dynamics and the long-run, steady-state relationships between farm and retail prices than has been used to data. Monthly data for beef and...

The price premium associated with organic babyfood is estimated by applying a hedonic model to price and characteristic data for babyfood products collected in two cities: Raleigh, North Carolina, and San Jose, California. The price per ounce of babyfood is modeled as a function of a number of...

In this paper, some aspects of the application of optimal-control techniques to wool industry price stabilisation are considered. It is not intended to provide a blueprint for the immediate adoption of optimal-control techniques in the management of wool price stablisation. Rather, the...

The elasticity of substitution between textile fibres is investigated within a CES production function in which the fibres are grouped according to degree of substitutability. Disaggregated data for U.S. textile usage in the post-war period are examined and the elasticities estimated are...

One country's exports of a particular commodity are usually imperfect substitutes for similar exports from other countries. Consequently, the price elasticity of export demand involves unknown cross elasticities between sub-groups of the commodity. However, there are constraints on the relative...

A model of the Australian orange growing industry to explain changes in plantings, removals, the number and age composition of trees and orange production is developed and estimated. Most of the variation in plantings is explained by the expected profitability of growing oranges, the current...