FARM LEVEL DEMAND FOR PECANS RECONSIDERED

Gary J. Wells, Stephen E. Miller and C. Stassen Thompson

Southern Journal of Agricultural Economics, 1986, vol. 18, issue 01, 4

Abstract: 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.

Keywords: Crop; Production/Industries (search for similar items in EconPapers)
Date: 1986
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:sojoae:29447

DOI: 10.22004/ag.econ.29447

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