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Western Journal of Agricultural Economics >
Volume 02, December 1977 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/32335
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| Title: | SUPPLY RESPONSE TO RISK: THE CASE OF U.S. PINTO BEANS |
| Authors: | Ryan, Timothy J. |
| Issue Date: | 1977-12 |
| Abstract: | A standard model of behavior under uncertainty is used to suggest price risk variables for use in a positive supply study. The suggested variables are intuitively appealing and empirically tested on Pinto bean data. Linearity is assumed and O.L.S. used. The empirical results show that the risk variables greatly improve the statistical fit of the supply equation, are quantitatively important and that a substantial bias occurs if they are neglected. Policy initiatives to reduce Pinto bean price fluctuations need to consider the risk reducing effects on the supply response. |
| URI: | http://purl.umn.edu/32335 |
| Institution/Association: | Western Journal of Agricultural Economics>Volume 02, December 1977 |
| Total Pages: | 10 |
| Language: | English |
| From Page: | 35 |
| To Page: | 44 |
| Collections: | Volume 02, December 1977
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| 02010035.pdf | 524Kb | PDF | View/Open |
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