A MARKOV CHAIN ANALYSIS OF STRUCTURAL CHANGES IN THE TEXAS HIGH PLAINS COTTON GINNING INDUSTRY

Markov chain analysis of changes in the number and size of cotton gin firms in West Texas was conducted assuming stationary and non-stationary transition probabilities. Projections of industry structure were made to 1999 with stationary probability assumptions and six sets of assumed conditions for labor and energy costs and technological change in the non-stationary transition model. Results indicate a continued decline in number of firms, but labor, energy, and technology conditions alter the configuration of the structural changes.


Issue Date:
1985-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/29968
Published in:
Southern Journal of Agricultural Economics, Volume 17, Number 2
Page range:
11-20
Total Pages:
10




 Record created 2017-04-01, last modified 2017-11-21

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