Price expectations are an integral part of agricultural decision making. Despite recognition of this fact, few changes have been made during the past two decades in the way price expectations appear in agricultural models. For example, the majority of existing supply response studies has assumed...

This study uses an error correction model (ECM) to investigate dynamics in farm-retail price relationships. The ECM is a more general method of incorporating dynamics and the long-run, steady-state relationships between farm and retail prices than has been used to data. Monthly data for beef and...

Price expectations are an integral part of agricultural decision making. Despite recognition of this fact, few changes have been made during the past two decades in the way price expectations appear in agricultural models. For example, the majority of existing supply response studies has assumed...

Abstract not available

Abstract not available