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This paper investigates the conditions under which expected equivalent variation provides a correct ranking of stabilized and uncertain price situations. Expected equivalent variation can be recovered from ordinal preferences whereas ex ante equivalent variation requires additional information...

Abstract Currently Unavailable.

Abstract Currently Unavailable.

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The costs of shortages/rationing are not captured by standard consumer price indices. Thus the change in real GDP per capita is an over estimate of welfare losses in transition economies. In this study virtual prices are used to calculate new cost of living indices, making it possible to...

Abstract Currently Unavailable.

Investigates the split application of nitrogen for rainfed corn in the Midwest using two-stage decision model. Ex post analysis of late nitrogen application; Ex ante analysis of preplant nitrogen application: Use of information from the Erosion Productivity Impact Calculator (EPIC); Implications...

This paper applies the likelihood dominance criterion (LDC), a new method of model selection developed by Pollak and Wales (1991), to four popular demand equation systems, using a set of seasonally adjusted quarterly Canadian data series. the results indicate that the almost ideal demand system...

The rapid growth in China's per hectare chemical fertilizer application, from less than 10 kg in 1960 to 331 kg in 1993, has contributed significantly to the growth in grain production, but has also caused many environment problems such as groundwater pollution. With one-fifth of the world's...