INVERSE DEMAND RELATIONSHIPS FOR WHEAT FOOD USE BY CLASS

Thomas L. Marsh and Allen Featherstone ()

No 22001, 2003 Annual meeting, July 27-30, Montreal, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: A normalized quadratic input distance system is applied to estimate inverse demand relationships for wheat by class. Semi-nonparametric and Bayesian estimators are used to impose curvature on inputs and outputs. Price flexibilities are estimated for hard red winter, hard red spring, soft red wheat, soft white winter, and durum wheat. Durum wheat is found to be the most price flexible. Economically and statistically important differences in price formation across classes of wheat are found and are supportive of government programs differentiating wheat by class.

Keywords: Demand and Price Analysis (search for similar items in EconPapers)
Date: 2003
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