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Farm Level Demand For Pecans Reconsidered

Author

Listed:
  • Wells, Gary J.
  • Miller, Stephen E.
  • Thompson, C. Stassen

Abstract

Previous studies have consistently indicated the anomalous result of a price inflexible demand for pecans. However, these efforts did not have an adequate measure of pecan stocks available and, as a result, stocks were either excluded from consideration or a proxy variable was introduced. A time series of pecan stocks is now available. Use of this time series in a price dependent demand function results in a flexible farm level demand for pecans. This points out the danger of excluding an appropriate variable or using a so-called "reasonable" proxy variable.

Suggested Citation

  • Wells, Gary J. & Miller, Stephen E. & Thompson, C. Stassen, 1986. "Farm Level Demand For Pecans Reconsidered," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 18(1), pages 1-4, July.
    • Handle: RePEc:ags:sojoae:29447
    DOI: 10.22004/ag.econ.29447
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    References listed on IDEAS

    as
    1. Stephen E. Miller & Oral Capps & Gary J. Wells, 1984. "Confidence Intervals for Elasticities and Flexibilities from Linear Equations," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(3), pages 392-396.
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    Cited by:

    1. Cheng, Guo & Dharmasena, Senarath & Capps, Oral, Jr., 2017. "The Taste for Variety: Demand Analysis for Nut Products in the United States," Reports 285248, Texas A&M University, Agribusiness, Food, and Consumer Economics Research Center.
    2. Okunade, Albert A. & Cochran, Mark J., 1991. "Functional Forms and Farm-Level Demand for Pecans by Variety," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 23(2), pages 95-102, December.
    3. Jee W. Hwang & Okmyung Bin, 2019. "Effects Of Changes In Climatic Conditions On New Mexico Pecan Production, Price, And Cash Receipts," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 10(02), pages 1-11, May.

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    Keywords

    Crop Production/Industries;

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