Alfalfa seed demand analysis using panel data from seven Western states
Price responsiveness of alfalfa seed demand is estimated using a panel data set of seven Western states, covering the period 1950 to 1992. The demand function is derived from a generalized Leontief variable cost function with a time trend. Tests are performed and corrections are made for heteroskedasticity and serial autocorrelation. Estimated own-price elasticities of demand are highly inelastic, but over time become price sensitive. The estimated cross-price elasticities indicate that machinery price has the highest impact on alfalfa seed demand. An estimate of technological change indicates that the industry has been taking advantage of the improved seed genetics. © 1998 John Wiley & Sons, Inc.
Year of publication: |
1998
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Authors: | Myer, Gordon L. ; Bhattacharyya, Arunava ; Liu, Jianjian |
Published in: |
Agribusiness. - John Wiley & Sons, Ltd., ISSN 0742-4477. - Vol. 14.1998, 2, p. 139-146
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Publisher: |
John Wiley & Sons, Ltd. |
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