Alternative Estimates of Fed Beef Supply Response to Risk

Frances A. Antonovitz and Richard D. Green

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: Supply response models for fed beef incorporating risk by including both the mean and variance of output price are developed, estimated, and compared. Six different estimates of the mean and variance are obtained from futures prices; ARIMA processes; and naive, adaptive, and rational expectations models. Empirical estimates are compared using nonnested testing procedures and indicate that the choice of the expectations model significantly influences elasticity estimates and whether supply response is positive or negative. Empirical evidence does not support any one model in particular, suggesting that expectations are heterogenous rather than homogenous.

Date: 1992-01-01
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Published in American Journal of Agricultural Economics, January 1992,, pp. 475-487

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:599

Access Statistics for this paper

More papers in Staff General Research Papers Archive from Iowa State University, Department of Economics Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070. Contact information at EDIRC.
Bibliographic data for series maintained by Curtis Balmer ().