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An Automated Econometric Approach For Estimating And Reporting Daily Cotton Market Prices

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Author Info

  • Brown, Jeff E.
  • Ethridge, Don E.
  • Hudson, Darren
  • Engels, Carlos

Abstract

An automated price reporting system developed through computer technology and hedonic price theory is used to estimate daily cotton market prices, premiums, and discounts. This objective approach for reporting cotton market prices was developed to complement the objective measures of high volume instrument grading of cotton. The computerized, econometric system is limited to the Texas and Oklahoma marketing regions where sales are readily available from electronic markets. The econometric based system has shown all the characteristics of an efficient price reporting system; it is accurate, reliable, consistent, and repeatable in its working process and price estimates.

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Bibliographic Info

Article provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.

Volume (Year): 27 (1995)
Issue (Month): 02 (December)
Pages:

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Handle: RePEc:ags:joaaec:15264

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Web page: http://www.saea.org/jaae/jaae.htm
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Related research

Keywords: Computer automation; Cotton marketing; Econometrics; Hedonic price analysis; Price reporting; Crop Production/Industries; Marketing;

References

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  1. Brown, Jeff E. & Ethridge, Don E., 1995. "Functional Form Model Specification: An Application To Hedonic Pricing," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 24(2), October.
  2. Michael T. Belongia, 1988. "Are economic forecasts by government agencies biased? Accurate?," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 15-23.
  3. Darren Hudson & Don Ethridge & Jeff Brown, 1996. "Producer prices in cotton markets: Evaluation of reported price information accuracy," Agribusiness, John Wiley & Sons, Ltd., vol. 12(4), pages 353-362.
  4. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
  5. Holden, K & Peel, D A, 1990. "On Testing for Unbiasedness and Efficiency of Forecasts," The Manchester School of Economic & Social Studies, University of Manchester, vol. 58(2), pages 120-27, June.
  6. Ethridge, Don E., 1978. "A Computerized Remote-Access Commodity Market: Telcot," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 10(02), December.
  7. Ethridge, Don E. & Neeper, Jarral T., 1987. "Producer Returns From Cotton Strength And Uniformity: An Hedonic Price Approach," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 19(01), July.
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Citations

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Cited by:
  1. Ethridge, Don E. & Misra, Sukant K. & Fadiga, Mohamadou L., 2004. "Texas-Oklahoma Producer Cotton Market Summary: 2003/2004," Cotton Economics Research Institute CER Series 31246, Texas Tech University, Department of Agricultural and Applied Economics.
  2. Ward, Jason & Nelson, Jeannie & Misra, Sukant K. & Ethridge, Don E., 2001. "Texas-Oklahoma Producer Cotton Market Summary: 2000/2001," Cotton Economics Research Institute CER Series 31249, Texas Tech University, Department of Agricultural and Applied Economics.
  3. Sanders, Dane & Misra, Sukant K. & Ethridge, Don E., 2002. "Texas - Oklahoma Producer Cotton Market Summary: 2001/2002," Cotton Economics Research Institute CER Series 31245, Texas Tech University, Department of Agricultural and Applied Economics.
  4. Hoelscher, Kevin & Ethridge, Don E. & Misra, Sukant K., 1998. "Texas-Oklahoma Producer Cotton Market Summary: 1997/98," Cotton Economics Research Institute CER Series 31250, Texas Tech University, Department of Agricultural and Applied Economics.
  5. Smed, Sinne & Hansen, Lars Garn, 2012. "Consumer valuation of health attributes in food," 2012 AAEA/EAAE Food Environment Symposium, May 30-31, Boston, MA 122730, Agricultural and Applied Economics Association.
  6. Hudson, Darren & Jones, Tom, 2001. "Willingness To Plant Identity Preserved Crops: The Case Of Mississippi Soybeans," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 33(03), December.
  7. Darren Hudson & Emmett Elam & Don Ethridge & Jeff Brown, 1996. "Price information in Producer markets: An evaluation of futures and spot cotton price relationships in the southwest region using cointegration," Agribusiness, John Wiley & Sons, Ltd., vol. 12(4), pages 363-369.
  8. Sanders, Dane & Wankhede, Pallavi & Misra, Sukant K. & Ethridge, Don E., 2003. "Texas-Oklahoma Producer Cotton Market Summary: 2002/2003," Cotton Economics Research Institute CER Series 31248, Texas Tech University, Department of Agricultural and Applied Economics.
  9. Kleijnen, Jack P.C. & van Schaik, Frans D.J., 2011. "Sealed-bid auction of Netherlands mussels: Statistical analysis," International Journal of Production Economics, Elsevier, vol. 132(1), pages 154-161, July.
  10. Nelson, Jeannie & Hoelscher, Kevin & Misra, Sukant K. & Ethridge, Don E., 2000. "Texas-Oklahoma Producer Cotton Market Summary: 1999/2000," Cotton Economics Research Institute CER Series 31242, Texas Tech University, Department of Agricultural and Applied Economics.
  11. Larson, James A. & Roberts, Roland K. & Gwathmey, C. Owen, 2006. "Effects of Herbicide-Resistant Technology Fees on the Plant Population Decision for Cotton Production," 2006 Annual meeting, July 23-26, Long Beach, CA 21208, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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