000173882 001__ 173882
000173882 005__ 20250206162715.0
000173882 0247_ $$2doi$$a10.22004/ag.econ.173882
000173882 037__ $$a968-2016-75176
000173882 037__ $$a968-2016-76329
000173882 041__ $$aeng
000173882 245__ $$aExpectations, supply response, and marketing boards: An example from Kenya
000173882 260__ $$c1996-04
000173882 269__ $$a1996-04
000173882 300__ $$a12
000173882 336__ $$aJournal Article
000173882 520__ $$aWhether farmers form price expectations adaptively or in a forward-looking manner has implications for supply response analysis and
for the implementation of agricultural policy reform. This paper examines the formation of price expectations by Kenyan export-crop
farmers who market their produce through a monopsonistic parastatal. The analysis allows for relaxation of the small-country assumption
within a rational expectations framework. Production behavior is consistent with expectations of future prices based on indicators of
aggregate supply and of the marketing board's purchasing capacity. The finding that price forecasts may be formed using information other
than previous price levels implies that marketing reforms that raise prices may not raise the relevant price expectations. To elicit a positive
supply response, market reforms should be sensitive to farmers' interpretation of institutional signals as well as previous prices.
000173882 546__ $$aEnglish
000173882 650__ $$aAgribusiness
000173882 650__ $$aMarketing
000173882 700__ $$aWinter-Nelson, Alex
000173882 773__ $$q21$$o31$$tAgricultural Economics: The Journal of the International Association of Agricultural Economists$$j14$$k01$$dApril 1996
000173882 8564_ $$948214dbb-198c-4983-a098-9a216c7c4ab9$$s1190019$$uhttps://ageconsearch.umn.edu/record/173882/files/agec1996v014i001a003.pdf
000173882 887__ $$ahttp://purl.umn.edu/173882
000173882 909CO $$ooai:ageconsearch.umn.edu:173882$$pGLOBAL_SET
000173882 912__ $$nSubmitted by Jennifer Nelson (nels7877@umn.edu) on 2014-06-23T17:01:58Z
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  Previous issue date: 1996-04
000173882 913__ $$aLicense granted by Jennifer Nelson (nels7877@umn.edu) on 2014-06-23T16:57:41Z (GMT):

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000173882 980__ $$a968
000173882 982__ $$gAgricultural Economics: The Journal of the International Association of Agricultural Economists>Volume 14, Issue 1, April 1996