@article{Chavas:174327,
      recid = {174327},
      author = {Chavas, Jean-Paul and Cox, Thomas L. and Jesse, Edward},
      title = {Spatial allocation and the shadow pricing of product  characteristics},
      journal = {Agricultural Economics: The Journal of the International  Association of Agricultural Economists},
      address = {1998-01},
      number = {968-2016-75512},
      pages = {20},
      year = {1998},
      abstract = {The paper considers an industry transforming primary  commodities (farm products) into processed commodities  (food products). It
focuses on the allocation of embedded  characteristics (carbohydrate, protein, etc.) both across  space and among commodities. The approach
generates a  spatial competitive market equilibrium of production,  consumption, transformation, and trade for both primary and  processed
commodities, along with the spatial distribution  of shadow prices for the product characteristics. The model  provides a basis for analyzing
the allocation and pricing  of agricultural products, food products, and  characteristics in spatial markets. The empirical  usefulness of the
model is illustrated in the context of  regional resource allocation in the U.S. dairy sector.},
      url = {http://ageconsearch.umn.edu/record/174327},
      doi = {https://doi.org/10.22004/ag.econ.174327},
}