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IDENTIFICATION AND ESTIMATION OF UNDERLYING MARKET SUPPLY FUNCTION PARAMETERS FOR A COMMODITY WITH MANDATORY OUTPUT CONTROLS

Barry Goodwin (), Daniel Sumner and D. Arthur Sparrow

No 270139, 1987 Annual Meeting, August 2-5, East Lansing, Michigan from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Data on lease rates for transferable output quotas allow implicit, measurements of marginal costs. Regression of these costs on quantities of quota allows identification and estimation of parameters of the marginal cost function. Econometric analysis of sixty tobacco counties for eight recent years yields implied supply elasticities of about 3.3.

Keywords: Agricultural and Food Policy; Marketing; Research Methods/ Statistical Methods (search for similar items in EconPapers)
Pages: 15
Date: 1987-08-02
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea87:270139

DOI: 10.22004/ag.econ.270139

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