Author:
Duffy Patricia A.,Shalishali Kasazi,Kinnucan Henry W.
Abstract
AbstractAn expected utility model that includes output price and yield uncertainty was used to estimate cotton, com, and soybean acreage response equations for the Southeast. The model appeared to fit the soybean and corn data well, resulting in own-price elasticity estimates of 0.317 for com and 0.727 for soybeans. When applied to cotton acreage, however, the model did not yield satisfactory results. When elasticity was allowed to change over time, however, statistical results for the cotton equation improved, yielding an own-price elasticity of 0.915 at data means.
Publisher
Cambridge University Press (CUP)
Subject
Economics and Econometrics,Agricultural and Biological Sciences (miscellaneous)
Reference23 articles.
1. On the Estimation of Structural Change: A Generalization of the Random Coefficients Regression Model
2. The U.S. Supply of Soybeans: Regional Acreage Functions.;Houck;Agr. Econ. Research.,1969
3. Effects of Alternative Acreage Restriction Provisions on Alabama Cotton Farms.;Mims;S. J. of Agr. Econ.,1989
4. Constrained Choices Under Risk.;Chavas;S. Econ. J.,1987
5. Regression Diagnostics
Cited by
10 articles.
订阅此论文施引文献
订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献