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A Note on the Valuation of Ecosystem Services in Production AgEcon
Simpson, R. David.
There has been considerable recent interest in the valuation of ecosystem services. We focus here on the value of such services in the production of market goods. Although the conceptual basis for conducting such exercises is straightforward, the data with which to implement them empirically is generally not available. An upper bound on the value of ecosystem services arises when the production technology exhibits constant returns to scale in ecosystem services and market inputs jointly. There are compelling reasons to suppose that the existence of fixed factors of production would imply that production technologies exhibit decreasing return to scale. Under these circumstances, no general conclusions can be drawn. We show in an illustrative example that a...
Tipo: Working or Discussion Paper Palavras-chave: Ecosystem services; Returns to scale; Elasticity of substitution; Resource /Energy Economics and Policy; Q29.
Ano: 2001 URL: http://purl.umn.edu/10832
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Diferenciação por origem e substituição nas exportações de soja em grão do Brasil, dos EUA e da Argentina AgEcon
Figueiredo, Adelson Martins; Santos, Maurinho Luiz dos; Lirio, Viviani Silva.
The objective of this work was to estimate and to analyze the elasticity of substitution between Brazil, the USA and Argentina in the soybeans exports in the selected importers markets. This fact is important, considering that, it increases the integration of the world economies, placing in prominence of the adaptability to the world demand, as a fundamental factor for the exports expansion. Like this, given the economical relevance of the Brazilian exports of soybeans it was looked for, specifically, to verify the substitution possibility between the soybeans exports of Brazil, the USA and Argentina. After accomplishment of Dickey-Fuller expanded tests (ADF) for unit root, and Trace test and Max-eingevalue test for co-integration, the Error Correction...
Tipo: Journal Article Palavras-chave: Elasticity of substitution; Exports; Soybeans; Brazil; International Relations/Trade.
Ano: 2004 URL: http://purl.umn.edu/56769
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Discriminação da função de produção e elasticidades de substituição de fatores na agropecuária do estado de Minas Gerais AgEcon
Baptista, Antonio Jose Medina dos Santos; Castro, Eduardo Rodrigues de; Teixeira, Erly Cardoso.
The objective of this study was to analyze the aggregate agriculture production function for the state of Minas Gerais. The analysis was accomplished in two phases. First, we separate the municipalities in terms of the productive efficiency, using the non-parametric approach of data envelopment analysis. In a second phase, a translog production function was adjusted for the efficient groups and for the inefficient ones, whose parameters were obtained by the ordinary least square method. This article indicates an analytic procedure that can subsidize the estimate of production functions more coherent with the reality, in the sense that relaxes the neoclassical assumptions that the firms are efficient. The results were coherent, once it was possible to...
Tipo: Journal Article Palavras-chave: Production Economics; Aggregate production function; Technical efficiency; Elasticity of substitution; Minas Gerais..
Ano: 2004 URL: http://purl.umn.edu/56794
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Input Substitution in the Spanish Food Industry AgEcon
Alarcón, Silverio.
Firm panel data sets over the period 1993 to 2002 are used to estimate translog production functions with labour, capital and material inputs for 9 Spanish food industries. To tackle the endogeneity of the regressors, the generalized method of moments estimations is employed. The specification tests reject the instrument variables only for 1 out of 9 estimates. The remaining 8 industries show evidence of homogeneity and constant returns to scale. Only one industry exhibits complete separability of all pairs of factors and thus translog is preferred to Cobb-Douglas specification for 7 industries. Substitutability and complementarity between production factors in response to price changes are studied through Morishima and Shadow elasticities....
Tipo: Conference Paper or Presentation Palavras-chave: Translog; Elasticity of substitution; Generalized method of moments; Returns to scale; Agribusiness; C23; D24; L66.
Ano: 2005 URL: http://purl.umn.edu/24487
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REGIONAL FACTOR DEMAND IN U.S. WHEAT PRODUCTION AgEcon
Mao, Weining; Koo, Won W..
This study applies a translog cost function to analyze factor demands in four U.S. wheat production regions. The results show that factor demands are inelastic across all regions. The interdependent relationships among inputs and the effects of price changes on the relative cost shares are substantially
Tipo: Working or Discussion Paper Palavras-chave: Wheat production; Factor demand; Elasticity of substitution; Regional comparisons; Translog models; Curvature condition; Demand and Price Analysis; Production Economics.
Ano: 1997 URL: http://purl.umn.edu/23091
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The Impact of Labeling Practices on Perceived Quality of GM Food Products: A Revealed Preferences Approach AgEcon
Scatasta, Sara; Wesseler, Justus; Hobbs, Jill E..
This article contributes to the ongoing discussion about the impact of different labeling practices on the quality of genetically modified (GM) food products as perceived by the consumer. Thus far, many studies have adopted a stated preferences approach, finding that consumers have different willingness to pay for GM and non-GM products. This article offers an empirically tractable theoretical model that can be used easily to investigate the impact of GM labeling practices on the perceived quality of GM food products, making use of market data.
Tipo: Conference Paper or Presentation Palavras-chave: Consumer preferences; Genetically modified food products; Labeling; Quality; Variety; Elasticity of substitution; Consumer/Household Economics; Q11; Q18; D12.
Ano: 2005 URL: http://purl.umn.edu/24599
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