Modeling The Farm-Retail Price Spread For Beef
AbstractA new model for the farm-retail price spread, which accounts for both farm supply and retail demand changes, is introduced. This model is applied to beef, and its empirical performance relative to the markup pricing formulation is evaluated using nonnested testing procedures. The results are consistent with theory and indicate the markup pricing model is misspecified.
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Bibliographic InfoArticle provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.
Volume (Year): 12 (1987)
Issue (Month): 02 (December)
Demand and Price Analysis; Livestock Production/Industries;
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