The statistical properties of daily closing futures prices for nine commodities are studied. Two hypotheses are examined: Price changes are normally distributed, and prices follow a random walk process. Normality is tested by estimating kurtosis, the R/S statistic, and characteristic exponents....

This report explores the effects on consumers and producers of terminating methods of supply management presently permitted through the use of Federal marketing orders for fruits, vegetables, and specialty crops. Changes in net social welfare are outlined both during the season controls are...

Consumer demand for food is an important component of the structure within which various agricultural policies have been formulated. To provide a model for food consumption forecasts and analyses of food program effects, a complete set of food demand relationships consisting of direct-and...

Various estimates of quantity-and price-dependent demand equations for total food demand are made. The regression coefficients are used to derive estimates of price and income elasticities and flexibilities. The results indicate that response of food demand to price and income changes is low...