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The objective of this study is to propose a system of input demand functions consistent with the theory of the firm where promotion is treated as an information input in the production function. The empirical model is applied to the European Union (EU) input demand for shelled peanuts. The...
Persistent link: https://www.econbiz.de/10005804645
The hedonic pricing model is widely accepted as a method for estimating the marginal willingness to pay for spatially delineated amenities. Empirical applications typically rely on one of three functional forms—linear, semi-log, and double-log—and rarely involve rigorous specification...
Persistent link: https://www.econbiz.de/10005039314
The generalized composite commodity theorem (Lewbel 1996) is used to test for consistent aggregation of U.S. and … aggregated into as few as five categories. The aggregation of all outputs into a single output cannot be supported in either …
Persistent link: https://www.econbiz.de/10005338787
Consistent aggregation of production data across commodities and states was tested using Lewbel's generalized composite … commodity theorem (GCCT). This was the first empirical GCCT test for consistent geographic aggregation and was applied to two … groups of states. Consistent commodity aggregation was tested in all states for two output groups and three input groups and …
Persistent link: https://www.econbiz.de/10005805929
separability conditions for aggregation have been rejected is reconsidered to determine if aggregation can be based on the GCCT … of formulating aggregates prior to conducting tests for aggregation is addressed. …
Persistent link: https://www.econbiz.de/10005503209
-agriculture. Standard aggregation procedures ignore the variability within sectors, and underweight the importance of highly protected … that using optimal aggregation procedures increases the measured importance of agricultural trade reform relative to non …
Persistent link: https://www.econbiz.de/10009021173
Replaced with revised version of paper 06/15/11.
Persistent link: https://www.econbiz.de/10009021529
Economists often use aggregate time series data to estimate consumer demand functions. Some of the popular applied demand systems have a PIGLOG form. In the most general PIGLOG cases the “average” demand for a good is a function of the representative consumer expenditure not the average...
Persistent link: https://www.econbiz.de/10011070020
management strategy for several levels of risk aversion. Research Methods Hard red winter wheat grain yield data were produced in … included the per acre cost of chemical as well as the per acre rental rate for ground application. Risk analysis was conducted … treatment cost that would entice wheat producers to use fungicide for several levels of risk aversion. Potential for Generating …
Persistent link: https://www.econbiz.de/10010880866
availability. Hence stochastic rainfall poses considerable production risk in the region and developing strategies to maximize the … optimal decisions were not sensitive to variations in price of cotton lint and farmer’s attitude towards risk. …
Persistent link: https://www.econbiz.de/10010880911