PROGRAM AND NONPROGRAM WHEAT ACREAGE RESPONSES TO PRICES AND RISK

Mark A. Krause, Jung-Hee Lee and Won W. Koo

Journal of Agricultural and Resource Economics, 1995, vol. 20, issue 01, 12

Abstract: Wheat acreage responses to expected wheat price and price risk are reversed for program and nonprogram-planted acreage in the northern plains, central plains, southern plains, and U.S. Expected wheat price has a strong negative effect on program-complying wheat acreage. Government support prices have a positive effect on program-complying and program-planted acreage. Price risk has a positive effect on program-complying wheat acreage and a negative effect on nonprogram-planted acreage. Estimated price elasticities are higher than in studies where risk was ignored.

Keywords: Demand and Price Analysis; Risk and Uncertainty (search for similar items in EconPapers)
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jlaare:30930

DOI: 10.22004/ag.econ.30930

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