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Abstract

Econometric models designed to show how national policies affect state agricultural sectors often use national prices as proxies for state prices. Consequently, they ignore the influence of freight rates on state production. An application to the Hawaii beef industry demonstrates that both freight rates and national beef prices have important impacts on Hawaii beef prices and production. By using state prices rather than national prices, error from changes in freight rates might be reduced, and the model's capacity for policy analysis might be broadened.

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