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Registros recuperados: 4
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Alternative Theories and Empirical Approaches to Price Discovery: An Application to Fed Cattle AgEcon
Carlberg, Jared G.; Ward, Clement E..
Price discovery is a frequent topic of research, but many times is not clearly defined and thus purported to cover a myriad of topics. This article provides two alternative theories as the basis for one line of price discovery research. Empirical models consistent with the two theories are estimated using a common data set. Empirical results differ as expected. This article evidences why the theoretical basis for an empirical model depends on clearly defining the objective(s) of the research.
Tipo: Journal Article Palavras-chave: Derived demand; Fed cattle; Partial adjustment model; Price discovery; Q13; Q11; Q12; C51; C22.
Ano: 2003 URL: http://purl.umn.edu/43201
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Derived Demand for Cattle Feeding Inputs AgEcon
Mathews, Kenneth H., Jr.; Arnade, Carlos Anthony; Jones, Keithly G..
Derived demand relationships among four weight categories of feeder cattle entering Texas feedlots and their feed consumed are examined using a generalized McFadden dual cost function. Results demonstrate systematic differences in demand relationships among different weight categories. Positive cross-price elasticities among the three heaviest weight categories are consistent with input substitution among weight categories and consistent with objective functions associated with optimal placement weight. Anomalies in the form of negative cross-price elasticities between weight categories provide evidence for an alternative objective function associated with longer term feeding of light-weight feeder cattle. Results also demonstrate seasonality differences...
Tipo: Journal Article Palavras-chave: Cattle feeding; Derived demand; Elasticity; Feeder cattle; Generalized McFadden cost function; Agribusiness; Demand and Price Analysis; Livestock Production/Industries.
Ano: 2008 URL: http://purl.umn.edu/90552
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Factors Affecting Hay Supply and Demand in Tennessee AgEcon
Bazen, Ernest F.; Roberts, Roland K.; Travis, John; Larson, James A..
Understanding the interactions between supply and demand for hay is important because of hay’s significance to the agricultural sector and economy, and because hay is an important crop on highly erodible soils. As an example, Tennessee has the most erodible cultivated cropland in the United States (Denton, 2000), nearly half of the state’s current CRP acreage contracts are set to expire in 2007 (U.S. Department of Agriculture, 2006), and hay is one of the most economically important crops produced in the state (U.S. Department of Agriculture, 2004). Cross (1999) attributed the upward trend in Tennessee hay acreage since 1980 to an increasing number of farmers who were searching for alternative production activities, such as hay, pasture and livestock, to...
Tipo: Conference Paper or Presentation Palavras-chave: Acreage response; Derived demand; Elasticities; Hay; Inverse demand function; Price flexibilities; Yield response; Crop Production/Industries; Demand and Price Analysis; D.
Ano: 2008 URL: http://purl.umn.edu/6889
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What Price for the Right to Go a-Droving? A Derived Demand Approach AgEcon
Marshall, Graham R.; Cacho, Oscar J.; John, Fatmata.
Travelling stock reserves (TSRs) were established in Australia as a way of allowing the passage of livestock through settled lands to facilitate stocking of new lands. Subsequently, they remained important as a way of moving livestock from property to property or from property to market. Today, the area of land dedicated to TSRs in NSW is estimated at 2.3 million hectares, which are used more as a source of feed than as a livestock thoroughfare. The value of TSRs as a source of feed is particularly important during drought periods, and pricing of access for walking stock has become a subject of contention within the Rural Land Protection Boards (RLPB). The price of TSR permits for walking stock is considerably lower than for agistment, thereby compromising...
Tipo: Working or Discussion Paper Palavras-chave: Travelling stock reserves; Derived demand; Grazing; Linear programming; Demand and Price Analysis; Livestock Production/Industries.
Ano: 2000 URL: http://purl.umn.edu/12917
Registros recuperados: 4
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