Choi, Jung-Sup; Helmberger, Peter G. - In: Journal of Agricultural and Applied Economics 25 (1993) 01
A two-stage approach is used to estimate sensitivity of corn, wheat, and soybean yields to changes in prices and land idled. Estimated elasticity of demand for fertilizer per acre with respect to expected output price equals 0.47, 0.10, and 0.82 for corn, wheat, and soybeans. Upper estimates of...