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PRICE EXPECTATIONS AND SUPPLY RESPONSE IN THE THOROUGHBRED YEARLING MARKET AgEcon
Neibergs, J. Shannon; Thalheimer, Richard.
Limited information is available concerning price determination in the thoroughbred yearling market. A recursive model incorporating price expectations and biological constraints is used to estimate supply and demand functions for thoroughbred horses. Empirical results characterize a market with inelastic supply and elastic demand that converges to equilibrium under static conditions. Purses were identified as the most influential variable impacting price. Comparative statics illustrate the effectiveness of purses as a policy instrument for the thoroughbred industry. Federal tax policy also was found to have a significant impact on the decisions to breed or invest in thoroughbred yearlings.
Tipo: Journal Article Palavras-chave: Elasticity; Parimutual horse racing; Price determination; Price flexibility; Purses; Thoroughbred; Yearling; Demand and Price Analysis; Livestock Production/Industries.
Ano: 1997 URL: http://purl.umn.edu/15061
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Price Determination for Corn and Wheat: The Role of Market Factors and Government Programs AgEcon
Westcott, Paul C.; Hoffman, Linwood A..
Annual models for U.S. farm prices for corn and wheat are developed based on market factors as well as government agricultural commodity programs. The pricing relationships utilize a stocks-to-use modeling framework to capture the effects of market supply and demand factors on price determination. This formulation is augmented by factors that represent the changing role of agricultural policies, particularly government price support and stockholding programs. For wheat, international market effects as well as wheat feed use and related crosscommodity pricing considerations also are included. Model properties and model performance measures are presented. Additionally, recent price-forecasting applications of the models are discussed. The relatively simple...
Tipo: Report Palavras-chave: Corn; Wheat; Farm price; Price determination; Stocks-to-use ratio; Price supports; Commodity programs; Forecasts; Crop Production/Industries; Demand and Price Analysis.
Ano: 1999 URL: http://purl.umn.edu/33581
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FACTORS THAT INFLUENCE PRICES PRODUCERS RECEIVE FOR HOGS: STATISTICAL ANALYSIS OF KILLSHEET AND SURVEY DATA AgEcon
Lawrence, John D..
This paper evaluates the results of a survey of Iowa pork producers, examining potential price discrimination by packers. Prices varied greatly across producers, and the examined variables explain just over half of the variation. Factors under the producer's control were the most significant variables and accounted for the vast majority of the explainable difference in price among producers. Packer buying systems also accounted for some difference in producer prices. Finally, variables related to operation size, while statistically significant, increased the explanatory values of the equation very little.
Tipo: Working or Discussion Paper Palavras-chave: Market access; Carcass merit; Hog marketing; Price determination; Price discrimination; Demand and Price Analysis; Livestock Production/Industries.
Ano: 1996 URL: http://purl.umn.edu/18276
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