FUNCTIONAL FORMS AND FARM-LEVEL DEMAND FOR PECANS BY VARIETY

Albert Okunade and Mark J. Cochran

Southern Journal of Agricultural Economics, 1991, vol. 23, issue 2, 7

Abstract: Recent developments in the U.S. pecan industry appear to limit the utility of past research. The importance of pecan variety has emerged as an issue which could alter past results. The linear and double-log models previously fitted to all pecans (averaged) data may be too restrictive and hence, are less useful for variety-specific analysis. Past research also analyzed price turning points using nominal data. This study investigated functional form and data-averaging problems by fitting separate flexible Box-Cox price-dependent models for all-pecans and each variety of pecans (1970/71 -1988/89 deflated data). Results indicate: other nuts substitute for different pecan varieties, estimated all-pecans price flexibility is biased and clouds variety-specific flexibilities, and restrictive functional forms are inappropriate.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Date: 1991
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
https://ageconsearch.umn.edu/record/30051/files/23020095.pdf (application/pdf)

Related works:
Journal Article: Functional Forms and Farm-Level Demand for Pecans by Variety (1991)
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:ags:sojoae:30051

DOI: 10.22004/ag.econ.30051

Access Statistics for this article

More articles in Southern Journal of Agricultural Economics from Southern Agricultural Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().