"IRRATIONAL" PLANTING BEHAVIOR AS RATIONAL EXPECTATIONS OF GOVERNMENT SUPPORT

Dmitry Vedenov

No 35237, 2003 Annual Meeting, February 1-5, 2003, Mobile, Alabama from Southern Agricultural Economics Association

Abstract: The paper outlines an approach to estimation of rational expectations acreage response model for US soybeans that explicitly takes into account government payments. Numerical methods are used to recompute the model equilibrium at each iteration of the log-likelihood optimization routine. Estimation results allow one to measure market distortion introduced by the government support programs.

Keywords: Production; Economics (search for similar items in EconPapers)
Pages: 12
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:ags:saeatm:35237

DOI: 10.22004/ag.econ.35237

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