This article develops a dynamic econometric model of the national dairy industry to simulate the Impacts of generic advertising on the demand for milk and dairy products, farm and consumer prices, and producer welfare Two advertising scenarios are analyzed (1) a historic scenario, and (2) a...

Demand and supply are often asymmetric, that is, cross-price effects are not equal over all commodities Because of asymmetry, conventional surplus maximization formulations cannot be employed to compute a competitive market equilibrium Thid article compares alternative formulations under a...