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| Bishop, Phillip M.; Pratt, James E.; Novakovic, Andrew M.. |
| Mathematical programming models, as typically formulated for international trade applications, may contain certain implied restrictions limiting price responsiveness, intermediate product flows, and arbitrage possibilities. These restrictions are especially important in the case of dairy, and may lead to results which are technically infeasible, or if feasible, not consistent with market equilibrating behavior. The difficulties encountered when modeling dairy trade are described, and an alternative formulation of a spatial model is presented. This formulation allows joint-inputs, multi-products, intermediate markets, and pure transshipment and product substitution forms of arbitrage. |
| Tipo: Working Paper |
Palavras-chave: International Relations/Trade; Livestock Production/Industries. |
| Ano: 1993 |
URL: http://purl.umn.edu/121341 |
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| Bishop, Phillip M.; Novakovic, Andrew M.. |
| The Uruguay Round Agreements Act (1995) directed the USDA to study the potential implications of the new General Agreement on Tariffs and Trade for Federal Milk Marketing Orders. This research was conducted to comply with that requirement. The analysis described in this publication incorporates revisions to the model used in the original analysis, reflecting extensions and updates developed in conjunction with another study (ct. Pratt et al., "A Description of the Methods and Data Employed in the U.S. Dairy Sector Simulator, Version 97.3," R.B. 97-09, Department of Agricultural, Resource, and Managerial Economics, Cornell University, 1997). Of primary relevance here are changes in transportation costs which result in broader implications for North American... |
| Tipo: Working Paper |
Palavras-chave: International Relations/Trade; Livestock Production/Industries. |
| Ano: 1997 |
URL: http://purl.umn.edu/122703 |
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| Pratt, James E.; Bishop, Phillip M.; Erba, Eric M.; Novakovic, Andrew M.; Stephenson, Mark W.. |
| Economists have long considered issues of spatial economic activity, trade, and location values. Among all the various theories presented over the past century, it is safe to say that not one predicts that goods, services, or factors of production must attain the same value at different locations in geographic space. Only under the most extreme conditions, such as zero transportation costs, would it be even conceivable that the same commodity or factor of production be expected to command the same price in two geographically separated markets. With costly transportation, it is possible that two separate markets have nearly the same, or even identical, prices, but there are no theoretically justified reasons to expect such an outcome, a priori. When the... |
| Tipo: Working Paper |
Palavras-chave: Livestock Production/Industries; Marketing. |
| Ano: 1998 |
URL: http://purl.umn.edu/122691 |
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