RISK IN SUPPLY: THE CASE OF U.S. PINTO BEANS

Timothy J. Ryan

No 283671, 1977 AAEA-WAEA Joint Meeting, July 31-August 3, San Diego, California from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: A standard model of behaviour under uncertainty is used to suggest price interaction (risk) terms for use in a positive supply study. Linearity is assumed and O.L.S. used. The risk terms greatly improve the statistical fit of the Pinto bean supply response, are quantitatively important and a substantial bias occurs if they are neglected.

Keywords: Risk; and; Uncertainty (search for similar items in EconPapers)
Pages: 19
Date: 1977-07
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea77:283671

DOI: 10.22004/ag.econ.283671

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