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Brown, Jeff E.; Ethridge, Don E.. |
A combination of conceptual analysis and empirical analysis-partial regression and residuals analysis-was used to derive an appropriate functional form hedonic price model. These procedures are illustrated in the derivation of a functional form hedonic model for an automated, econometric daily cotton price reporting system for the Texas-Oklahoma cotton market. Following conceptualization to deduce the general shapes of relationships, the appropriate specific functional form was found by testing particular attribute transformations identified from partial regression analysis. Minimizing structural errors across attribute levels and estimation accuracy were used in determining when an appropriate functional form for both implicit and explicit prices was... |
Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
Ano: 1995 |
URL: http://purl.umn.edu/31596 |
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Brown, Jeff E.; Ethridge, Don E.; Hudson, Darren; Engels, Carlos. |
An automated price reporting system developed through computer technology and hedonic price theory is used to estimate daily cotton market prices, premiums, and discounts. This objective approach for reporting cotton market prices was developed to complement the objective measures of high volume instrument grading of cotton. The computerized, econometric system is limited to the Texas and Oklahoma marketing regions where sales are readily available from electronic markets. The econometric based system has shown all the characteristics of an efficient price reporting system; it is accurate, reliable, consistent, and repeatable in its working process and price estimates. |
Tipo: Journal Article |
Palavras-chave: Computer automation; Cotton marketing; Econometrics; Hedonic price analysis; Price reporting; Crop Production/Industries; Marketing. |
Ano: 1995 |
URL: http://purl.umn.edu/15264 |
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