There are a number of estimation methods available to the econometrician. They range in complexity from least squares, which takes only a few minutes with pencil and paper for a simple problem, to full information maximum likelihood, which requires a large-capacity electronic computer for...

A set of price-dependent demand equations explains the Interdependent nature of monthly demand relationships for 10 meat commodities The analysis uses a model with a mixed structural-time series approach. the model's forecasting capability is significantly better than that of the traditional...

Optimal hedging level, minimum-risk hedging level, and hedging effectiveness are defined in a manner consistent with portfolio theory and used to analyze hedging potential in cattle feeding. Estimated upper limits on optimal hedging levels ranged from 0.56 to 0.88 unit of short futures per unit...

Technological progress in animal production in the last 30 years has been substantial in some ways, negligible in others. On the one hand, livestock production per animal unit of breeding stock has shown gains of the same order as those in crop production per acre of land. But on the other hand,...

A particular numerical analytical technique for solving systems of simultaneous equations which offers several advantages to the user over other numerical techniques is discussed. The Gauss-Seidel algorithm is simply an iterative technique which requires no derivatives, matrix inversion,...

Continuous reorganization of markcll;:s implied by tlH~ process of economic grow til, wherein spcrialization, enlargement of sealc, and applications of technology keep marching onward. Under a regime of privatI.: propcrty, there are continual adaptations of differcllt means for mohili1.ing...

Competition is usually assumed as the general case in applications of classical and neoclassical economic theory Monopoly is treated as a special case Several leading economists during the thirties sought to develop a general theory of monopoly within which competition might be treated as a...

Opinions differ among economists as to how effective statistical analyses using time series data can be in identifying factors affecting demand and in measuring their influences. Although this presentation may not materially modify these opinions, it should at least succeed in making even the...

Costs of seven methods of handling beef by retail firms are explored, considering number and size of stores per firm and distance from the packer. The least costly method is centralized cutting into retail cuts by retail firms. Larger store size reduced per unit costs significantly for all...