Raw product prices for many processed fruits and vegetables are determined in part as an outcome of negotiations between processors and farmer bargaining associations. In such cases, unique market equilibrium solutions may not exist. This study develops a framework for price prediction under...

Two different methods of incorporating advertising effects into Almost Ideal Demand Systems (AIDS) are presented. Both advertising schemes are designed to allow theoretical restrictions to hold globally rather than at particular sample points. The models are estimated for California figs,...

The notion of price efficiency is discussed in the context of an optimal information market. Approaches for assessing price or market efficiency are examined, including temporal, spatial, and form-transformation paradigms. The interdependent nature of these paradigms is stressed. Finally, a...

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.

The separability hypothesis and expenditure as an exogenous variable in a system of conditional demands are analyzed. Expenditure cannot be weakly exogenous in a system of conditional demands specified as functions of the prices of the separable goods and total expenditure on those goods....

Comparative analysis of food demand expansion of a cash program, as compared to the food stamp program, is important for measuring trade-offs between goals of raising farm income and increasing food expenditures of the poor. A theoretical basis for assessing food demand impacts under each...

Beef-cow inventory demand is considered in a disequilibrium model of the U.S. live non-fed cattle market. Statistical results indicated the possible presence of disequilibrium prices. However, post-model evaluation indicated that the market for non-fed cattle has not been characterized by...