The lead-lag relationships present in the regional price discovery process are important indicators of market performance. Differences across markets in the speed of adjustment to evolving information may have implications for pricing efficiency within these markets. This study estimates...

The study uses primary data collected from a survey conducted in Georgia to analyze consumer preferences for testing and certification of fresh produce and consumers' willingness to pay for fresh produce that is certified as free of pesticide residues (FPR). An ordered probit model was estimated...

A dynamic system of cost-share equations for agricultural inputs is used to test for the presence of input disequilibrium. This dynamic system incorporates a disequilibrium adjustment process into input-share equations derived from a translog cost function. The disequilibrium process is...

This paper examines the economic impact of the 1979 labor strike against lettuce producer-shippers in the Imperial Valley of California. The theory presented suggests that formidable problems are encountered by agricultural labor unions in obtaining higher wages for farm workers. During the 1979...

Three methods of calculating the derived elasticity of demand for Choice slaughter beef are used: (a) a traditional marketing margin approach, (b) a modified marketing margin approach, and (c) an econometric, inverse demand model approach. The first method is more restrictive than the second but...

Aggregate U.S. agricultural supply response is modeled through a modified partial adjustment model, where the effects of weather and other temporal stochastic effects are structured to be purely static, while the effects of price and technology, or trend, are dynamic. The model is applied to a...

Several contemporary models of consumer demand comprise complete sets on nonlinear demand functions. Estimation methods should take into account parameter nonlinearity, cross-equation correlation, variance-covariance singularity of the disturbance terms, and various parameter restrictions. This...

Conceptual problems in model specification of beef supply response studies are investigated and a simultaneous equation model is formulated to estimate annual U.S. carcass supply, demand, and inventories of beef. Three basic issues are addressed: (a) disaggregation, (b) simultaneity, and (c)...

The dynamic relationship between daily cash and futures prices is investigated using time series analysis. The procedure involves causality tests between the two price series. The results show that futures price movements lead cash prices, implying that prices are discovered in the futures market.

A model of hedonic prices – implicit prices of embodied quality attributes – was developed for cotton lint and the relative importance of various quality attributes were estimated with regression analysis from sample data on observed sales of cotton. Results indicated that producer...