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| Okunade, Albert Ade.; Cochran, Mark J.. |
| Recent developments in the U.S. pecan industry appear to limit the utility of past research. The importance of pecan variety has emerged as an issue which could alter past results. The linear and double-log models previously fitted to all pecans (averaged) data may be too restrictive and hence, are less useful for variety-specific analysis. Past research also analyzed price turning points using nominal data. This study investigated functional form and data-averaging problems by fitting separate flexible Box-Cox price-dependent models for all-pecans and each variety of pecans (1970/71 -1988/89 deflated data). Results indicate: other nuts substitute for different pecan varieties, estimated all-pecans price flexibility is biased and clouds variety-specific... |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1991 |
URL: http://purl.umn.edu/30051 |
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| McLean-Meyinsse, Patricia E.; Okunade, Albert Ade.. |
| A Diewert-flexible (dual) cost function was used to derive a system of conditional factor demand equations for Louisiana rice producers. Generalized Leontief cost and factor share equations were fitted for the 1955-87 period using Zellner's SURE system estimation procedure. The Aitken parameter estimates reveal that: (1) the optimal input mix of rice farmers varies with production scale, (2) the factor-augmenting technical change is labor and chemical saving but seed using, (3) pairwise input substitutions are limited, and (4) factor demands are own-price inelastic. An implication is that Louisiana rice farmers will not appreciably alter their factor utilizations when relative input prices change. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1988 |
URL: http://purl.umn.edu/29255 |
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