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Registros recuperados: 29
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Consumer Surplus Estimates and the Source of Regression Error 31
Beatty, Timothy K.M.; Brozovic, Nicholas; Ward, Michael B..
Contrary to widely held belief, we show that the source of regression error does not matter when calculating Marshallian surplus. A misspecified demand curve, not the assumed source of regression error, leads to differences in estimates of consumer surplus.
Tipo: Conference Paper or Presentation Palavras-chave: Regression Error; Marshallian Surplus; Welfare Analysis; Consumer/Household Economics; D60; C24; Q51.
Ano: 2005 URL: http://purl.umn.edu/19477
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Measuring the Determinants of School Completion in Pakistan: Analysis of Censoring and Selection Bias 31
Holmes, Jessica.
This paper explores the demand for child schooling in Pakistan, using the Pakistan Integrated Household Survey (1991). There have been few such studies for Pakistan, a country with relatively low enrollment rates and education levels, high illiteracy, and large disparity between male and female education. Additionally, this study focuses on two potential sources of bias in the estimation of the demand for schooling. First, studies which do not distinguish between currently enrolled children and those who have completed their schooling subject their estimates to a form of censoring bias. Second, studies which exclude children who have left the household from their samples may introduce sample selection bias if the decisions to leave home and to attend...
Tipo: Working or Discussion Paper Palavras-chave: Labor and Human Capital; I2; C24.
Ano: 1999 URL: http://purl.umn.edu/28530
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EU policy reform simulation based on panel data estimation of on- and off-farm labour supply equations for Dutch dairy farmers 31
Ooms, Daan L.; Hall, Alastair R..
This research focuses on the estimation of labour supply equations for Dutch dairy farmers that are suitable for policy simulations. Data availability leads to the fact that we can not estimate structural labour supply equations. We show how to derive reduced form equations suitable for policy simulations. In this research we use the panel data sample selection estimation approach of Kyriazidou (1997) and Wooldridge (1995) to estimate the off-farm labour supply equation. The two lead to different estimation results and different simulation results based on these.
Tipo: Conference Paper or Presentation Palavras-chave: Econometrics; Panel Data; Sample Selection; Labour Supply; CAP Reform; Labor and Human Capital; C23; C24; C51; C53; D13; J22; Q12; Q18.
Ano: 2005 URL: http://purl.umn.edu/19434
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Estimating Farm Efficiency in the Presence of Double Heteroscedasticity Using Panel Data 31
Hadri, Kaddour; Guermat, Cherif; Whittaker, Julie.
The accuracy of technical efficiency measures is important given the interest in such measures in policy discussions. In recent years the use of stochastic frontiers has become popular for estimating technical inefficiency, but estimated inefficiencies are sensitive to specification errors. One source of such errors is heteroscedasticity. This paper addresses this issue by extending the Hadri (1999) correction for heteroscedasticity to stochastic production frontiers and to panel data. It is argued that heteroscedasticity within an estimation can have a significant effect on results, and that correcting for heteroscedasticity yields more accurate measures of technical inefficiency. Using panel data on cereal farms, it is found that the usual technical...
Tipo: Journal Article Palavras-chave: Stochastic frontier production; Heteroscedasticity; Technical efficiency; Panel data; Farm Management; Research Methods/ Statistical Methods; C23; C24; D24; Q12.
Ano: 2003 URL: http://purl.umn.edu/43994
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Consumer Interest in Environmentally Beneficial Chicken Feeds: Comparing High Available Phosphorus Corn and Other Varieties 31
Pesek, John D., Jr.; Bernard, John C.; Gupta, Meeta.
One source of phosphorous pollution in areas of high chicken production is runoff from fields using fertilizer from these operations. A potential solution is to feed chicken high available phosphorus (HAP) corn, reducing phosphorus in manure. This study examined consumer purchase likelihood of chickens fed HAP, created traditionally or through genetic modification, and other genetically modified (GM) corn including Bt and Roundup-ready. Survey results from the Delmarva Peninsula found considerable interest in non-GM HAP corn, although GM HAP corn was not typically viewed as more acceptable than other GM varieties. Overall, the marketplace appears open to products geared toward environmental benefits.
Tipo: Journal Article Palavras-chave: Chicken; Conjoint analysis; Corn; Genetically modified; Heteroscedastic; Phosphorus pollution; Tobit; Environmental Economics and Policy; Q13; D12; C24.
Ano: 2011 URL: http://purl.umn.edu/117945
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To What Surprises Do Hog Futures Markets Respond? 31
Frank, Julieta; Garcia, Philip; Irwin, Scott H..
We reassess the effect of new information in the Hogs and Pigs Reports (HPR) focusing on announcements’ rationality and alternative surprises. HPR announcements are irrational estimates of final estimates, and market expectations are irrational estimates of HPR numbers. Using the market’s best forecast and incorporating final estimates, we modify conventional information measures. Despite differences as large as 33 cents/cwt in price response, findings suggest there is little to differentiate among surprise measures. Regardless, the message that HPR provides new information to the market is strongly supported. On balance, marketing (breeding) information has a larger effect on short-term (long-term) price changes.
Tipo: Journal Article Palavras-chave: HPR; New information; Rationality; Two-limit tobit; USDA announcements; Agribusiness; Agricultural Finance; C24; Q13.
Ano: 2008 URL: http://purl.umn.edu/45046
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Impacts of Sample Size and Quality-Adjusted Imputed Prices on Own-Price Elasticities Estimated Using Cross-Sectional Data 31
Stockton, Matthew C..
Cross-sectional data sets containing expenditure and quantity information are typically used to calculate quality-adjusted imputed prices. Do sample size and quality adjustment of price statistically alter estimates for own-price elasticities? This paper employs a data set pertaining to three food categories-pork, cheese, and food away from home-with four sample sizes for each food category. Twelve sample sizes were used for both adjusted and unadjusted prices to derive elasticities. No statistical differences were found between own-price elasticities among sample sizes. However, elasticities that were based on adjusted price imputations were significantly different from those that were based on unadjusted prices.
Tipo: Journal Article Palavras-chave: Cross-sectional data; Imputed prices; Quality-adjusted prices; B41; D12; C21; C24.
Ano: 2003 URL: http://purl.umn.edu/43216
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Technical, Allocative, and Economic Efficiency in Swedish Dairy Farms: The Data Envelopment Analysis Versus the Stochastic Frontier Approach 31
Johansson, Helena.
Technical, allocative, and economic input efficiency scores were estimated for an unbalanced panel of Swedish dairy farms, using data envelopment analysis (DEA) and the stochastic frontier approach (SFA). By comparing the results it was concluded that when the entire dairy farm is studied the DEA is more appropriate to use since it does not require any particular parametric form to be chosen. The average DEA technical, allocative and economic efficiency indices were eventually found to be 0.77, 0.57, and 0.43 respectively. The influence of size on the efficiency scores was analyzed and significant evidence indicating a positive relationship between size and efficiency was found. Finally it was concluded that the main challenge facing the Swedish dairy...
Tipo: Conference Paper or Presentation Palavras-chave: Technical efficiency; Allocative efficiency; Economic efficiency; Data envelopment analysis; Stochastic frontier approach; Livestock Production/Industries; C14; C23; C24.
Ano: 2005 URL: http://purl.umn.edu/24478
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Commercialization of Smallholders: Is Market Participation Enough? 31
Gebremedhin, Berhanu; Jaleta, Moti.
The literature on commercial transformation of smallholders makes little distinction between market orientation (production decision based on market signals) and market participation (sale of output). However, policy implications to enhance commercial transformation of subsistence agriculture drawn from the analysis of the determinants of household market participation alone could be inadequate, if in fact, the determinants of market orientation and market participation are not the same or not consistent with each other. This paper analyzes the determinants of market orientation and market participation in Ethiopia separately and examines if market orientation translates into market participation. Empirical results show that the determinants of market...
Tipo: Journal Article Palavras-chave: Commercialization; Smallholders; Market orientation; Market participation; Marketing; C21; C24; Q12; Q13.
Ano: 2010 URL: http://purl.umn.edu/96159
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COST EFFICIENCY OF CATFISH FARMS IN CHICOT COUNTY, ARKANSAS: THE IMPACT OF EXTENSION SERVICES 31
Engle, Carole R.; Kaliba, Aloyce R..
Cost efficiency measures of a sample of catfish farms in Chicot County, Arkansas are estimated using a data envelopment analysis technique. A measure of overall efficiency is used to determine operator's characteristics, farm practices, and institutional support services that are likely to lead to higher farm level cost efficiency. Results indicate that live catfish production could increase by 55% using the same level of inputs if all farms were operating at the minimum average cost curve. Higher feeding rate and availability of extension services were associated with increased cost efficiency. Higher stocking density affected overall efficiency negatively. The marginal value of extension contacts in Chicot County was estimated to be $2988. This study...
Tipo: Conference Paper or Presentation Palavras-chave: Catfish; Cost efficiency; Data envelopment analysis; And extension services; Resource /Energy Economics and Policy; C14; C24; D61.
Ano: 2004 URL: http://purl.umn.edu/34740
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Precaution and Protectionism: GM Food and the WTO 31
Rigby, Dan; Burton, Michael P.; Young, Trevor.
The dispute between the US and EU over GM foods at the WTO is examined in terms of the issues it raises about protectionism and environmental protection and precaution. The issue of whether GM, GM Derived and Non-GM foods are equivalent to each other is examined using data from a national choice modelling study in the UK. These categories of food are critical since they underpin the EU's new food labelling regime which it hoped would defuse the WTO dispute. The results are analysed using a Bayesian mixed logit model which allows greater flexibility in the modelling of preference distributions. This is particularly crucial where, as in this case, bi-modal distributions are identified with some indifferent or mildly averse to GM foodtypes while others are...
Tipo: Conference Paper or Presentation Palavras-chave: GM food; Mixed logit; WTP; Bayesian; WTO; International Relations/Trade; C11; C24; C25; D12; Q18.
Ano: 2005 URL: http://purl.umn.edu/24447
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Estimating the Link Function in Multinomial Response Models under Endogeneity and Quadratic Loss 31
Judge, George G.; Mittelhammer, Ronald C..
This paper considers estimation and inference for the multinomial response model in the case where endogenous variables are arguments of the unknown link function. Semiparametric estimators are proposed that avoid the parametric assumptions underlying the likelihood approach as well as the loss of precision when using nonparametric estimation. A data based shrinkage estimator that seeks an optimal combination of estimators and results in superior risk performance under quadratic loss is also developed.
Tipo: Working or Discussion Paper Palavras-chave: Multinomial Process; Endogeneity; Empirical likelihood procedures; Quadratic loss; Semiparametric estimation and inference; Data dependent shrinkage; Asymptotic and finite sample risk; Research Methods/ Statistical Methods; C10; C24.
Ano: 2004 URL: http://purl.umn.edu/25095
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Spanish Demand for Food Away From Home: A Panel Data Approach 31
Angulo, Ana Maria; Gil, Jose Maria; Mur, Jesus.
In this paper, the Spanish demand for food away from home is analysed. A panel data set is built and appropriate techniques for estimating limited dependent variable models have been applied. Results indicate that where there are zero expenditures, these are largely due to infrequency of purchase rather than to abstention or to economic reasons. Furthermore, important differences appear among households. On the one hand, those households whose head is a highly-educated person, male, young and living on a salary in a large town are more likely to purchase food away from home. On the other hand, increases in income only provokes more than proportional increases in expenditure for those households headed by an unschooled person, a female or a person older...
Tipo: Conference Paper or Presentation Palavras-chave: Demand for food away from home; Household production theory; Panel data.; Consumer/Household Economics; C23; C24; D12.
Ano: 2002 URL: http://purl.umn.edu/24977
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The Role of On-Site Time in Recreational Demand for Wilderness 31
Acharya, Ram N.; Hatch, L. Upton; Clonts, Howard A..
Treatment of time in travel cost models has been a source of contention among economists. The debate persists because welfare estimates, which are the principal objectives of these studies, are highly sensitive to the treatment of time. The present study examines the dual role of on-site time using evidence from two wilderness areas in Alabama. The empirical results comply with the theoretical expectation that on-site time is both a source of utility and cost. The exclusion of on-site time from demand functions results in biased parameter estimates. In particular, it yields smaller own-price coefficients and higher welfare estimates.
Tipo: Journal Article Palavras-chave: Full income; On-site time; Recreation demand; Travel cost model; C24; D60; J20; Q26.
Ano: 2003 URL: http://purl.umn.edu/37857
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Testing for Consistency in Tourists' Willingness to Pay for New Nature Reserves in the Gulf of Morbihan (France) 31
Voltaire, Louinord; Nassiri, Abdelhak; Bailly, Denis; Boncoeur, Jean.
In this paper, we develop an empirical test of consistency in contingent willingness to pay (WTP) responses, which is based on the following a priori expectation. In economics, when an individual considers paying for public goods, his decision to pay, and his WTP are based on utility-maximising behaviour. Accordingly, supposing other factors are identical, if individual A expresses greater interest in paying for public goods in general than individual B, that is because A receives more benefits from the use and/or the non-use of these goods than B. Continuing with this logic, if both individuals are asked about their WTP for a precise public good, A should logically be more likely to pay and should be willing to pay more than B. Thus, the test consists in...
Tipo: Conference Paper or Presentation Palavras-chave: Contingent valuation; Consistency; Endogeneity; Consumer/Household Economics; Resource /Energy Economics and Policy; C24; D12; Q26.
Ano: 2011 URL: http://purl.umn.edu/114378
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A Semi-Parametric Basis for Combining Estimation Problems Under Quadratic Loss 31
Judge, George G.; Mittelhammer, Ronald C..
When there is uncertainty concerning the appropriate statistical model to use in representing the data sampling process and corresponding estimators, we consider a basis for optimally combining estimation problems. In the context of the multivariate linear statistical model, we consider a semi-parametric Stein-like (SPSL) estimator, ...that shrinks to a random data-dependent vector and, under quadratic loss, has superior performance relative to the conventional least squares estimator. The relationship of the SPSL estimator to the family of Stein estimators is noted and risk dominance extensions between correlated estimators are demonstrated. As an application we consider the problem of a possibly ill-conditioned design matrix and devise...
Tipo: Working or Discussion Paper Palavras-chave: Stein-like shrinkage; Quadratic loss; Ill-conditioned design; Semiparametric estimation and inference; Data dependent shrinkage vector; Asymptotic and finite sample risk.; Research Methods/ Statistical Methods; Cl0; C24.
Ano: 2003 URL: http://purl.umn.edu/25103
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Empirical Evidence Concerning the Finite Sample Performance of EL-Type Structural Equation Estimation and Inference Methods 31
Mittelhammer, Ronald C.; Judge, George G.; Schoenberg, Ron.
This paper presents empirical evidence concerning the finite sample performance of conventional and generalized empirical likelihood-type estimators that utilize instruments in the context of linear structural models characterized by endogenous explanatory variables. There are suggestions in the literature that traditional and non-traditional asymptotically efficient estimators based on moment equations may, for the relatively small sample sizes usually encountered in econometric practice, have relatively large biases and/or variances and provide an inadequate basis for estimation and inference. Given this uncertainty we use a range of data sampling processes and Monte Carlo sampling procedures to accumulate finite sample empirical evidence concerning...
Tipo: Working or Discussion Paper Palavras-chave: Unbiased moment based estimation and inference; Empirical likelihood; Empirical exponential likelihood; Semiparametric models; Conditional estimating equations; Finite sample bias and precision; Squared error loss; Instrumental conditioning variables; Research Methods/ Statistical Methods; C10; C24.
Ano: 2003 URL: http://purl.umn.edu/25090
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Measurement and Political Economy of Disputed Technical Regulations 31
Thornsbury, Suzanne; Roberts, Donna; Orden, David.
Technical regulations are increasingly visible in agricultural trade, yet their idiosyncratic nature has limited prior aggregate analysis. This article draws on a unique data source for systematic enumeration of the technical regulations questioned by one exporter among all of its trading partners in mid-1996. Political economy analysis indicates that barriers decrease when the relative contribution of agriculture to an economy increases, when the anticipated future level of protection through other forms of government intervention increases, and when economies are more open. Despite increased scrutiny and discipline by the World Trade Organization, technical barriers remain a significant impediment in world agricultural markets.
Tipo: Journal Article Palavras-chave: Limited dependent variable; Sanitary; And phytosanitary; WTO; F13; F14; C21; C24.
Ano: 2004 URL: http://purl.umn.edu/43448
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DETERMINANTS OF THE DEMAND FOR ORGANIC AND CONVENTIONAL FRESH MILK IN GERMANY– AN ECONOMETRIC ANALYSIS 31
Schrock, Rebecca.
An increasing number of studies deals with consumer decisions regarding organic food, but only a few provide quantitative estimates of price and income elasticities. This paper contributes to the existing literature by providing own-price elasticity estimates as well as an analysis of the sociodemographic determinants of demand for organic milk. The analysis is based on the GfK Consumer Scan Scanner panel dataset on food purchases of German households covering a sample period of four years from 2004 to 2007. A two-step estimation procedure is applied. First, a probit regression examines which household characteristics affect the probability to buy organic milk. Second, a fixed-effects panel regression determines factors that have an impact on the quantity...
Tipo: Conference Paper or Presentation Palavras-chave: Organic milk; Household Panel; Probit Analysis; Fixed-Effects-Panel Analysis; Price elasticity; Private-labels; Germany; Agricultural and Food Policy; Consumer/Household Economics; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Food Security and Poverty; Health Economics and Policy; C23; C24; C25; D12; M31; Q11.
Ano: 2010 URL: http://purl.umn.edu/116387
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Consumer Likelihood to Purchase Chickens with Novel Production Attributes 31
Bernard, John C.; Pesek, John D., Jr.; Pan, Xiqian.
Typical supermarket chickens are produced with novel or controversial attributes. This continues despite contrasting growth in consumer interest in organic and natural foods. This study surveyed Delaware consumers’ likelihood to purchase chicken given different attributes: free range, given antibiotics, irradiated, fed genetically modified (GM) fee, GM chicken, and price. Examining conjoint analysis data with a heteroskedastic two-limit tobit model, GM chicken and other novel attributes were found to lower purchase likelihood significantly. Understanding these results should help the industry meet consumer preferences while aiding its continued expansion to benefit workers and growers across the South.
Tipo: Journal Article Palavras-chave: Antibiotics; Chicken; Conjoint analysis; Genetically modified; Heteroskedastic; Irradiated; Tobit; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Q13; D12; C24.
Ano: 2007 URL: http://purl.umn.edu/6058
Registros recuperados: 29
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