FARM LEVEL DEMAND FOR PECANS RECONSIDERED

Previous studies have consistently indicated the anomalous result of a price inflexible demand for pecans. However, these efforts did not have an adequate measure of pecan stocks available and, as a result, stocks were either excluded from consideration or a proxy variable was introduced. A time series of pecan stocks is now available. Use of this time series in a price dependent demand function results in a flexible farm level demand for pecans. This points out the danger of excluding an appropriate variable or using a so-called "reasonable" proxy variable.


Issue Date:
1986-07
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/29447
Published in:
Southern Journal of Agricultural Economics, Volume 18, Number 1
Page range:
157-160
Total Pages:
4




 Record created 2017-04-01, last modified 2017-04-04

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