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Hedonic Price Estimation For Commodities: An Application To Cotton

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  • Ethridge, Don E.
  • Davis, Bob

Abstract

A model of hedonic prices - implicit prices of embodied quality attributes - was developed for cotton lint and the relative importance of various quality attributes were estimated with regression analysis from sample data on observed sales of cotton. Results indicated that producer prices were sensitive to variations in fiber length, micronaire, and trash content. Results also revealed differences in relative importance and sensitivity between years.

Suggested Citation

  • Ethridge, Don E. & Davis, Bob, 1982. "Hedonic Price Estimation For Commodities: An Application To Cotton," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(2), pages 1-8, December.
    • Handle: RePEc:ags:wjagec:32258
    DOI: 10.22004/ag.econ.32258
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    References listed on IDEAS

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    1. Richard K. Perrin, 1980. "The Impact of Component Pricing of Soybeans and Milk," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(3), pages 445-455.
    2. 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..
    3. Lawrence H. Officer, 1974. "Demand Conditions under Multidimensional Pricing," Palgrave Macmillan Books, in: Willy Sellekaerts (ed.), Econometrics and Economic Theory, chapter 13, pages 261-284, Palgrave Macmillan.
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    Cited by:

    1. Suleyman Karaman & Bahattin Cetin & Ayse Oguzlar & Koksal Yagdi, 2009. "Hedonic price estimation for the Turkish bread wheat characteristics," Quality & Quantity: International Journal of Methodology, Springer, vol. 43(6), pages 895-902, November.
    2. Samikwa, Duncan D. & Brorsen, B. Wade & Sanders, Larry D., 1998. "Hedonic Prices Of Malawi Burley Tobacco," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 1(1), pages 1-11.
    3. Mahdieh Yazdani, 2021. "House Price Determinants and Market Segmentation in Boulder, Colorado: A Hedonic Price Approach," Papers 2108.02442, arXiv.org.
    4. Hudson, Darren & Jones, Tom, 2001. "Willingness to Plant Identity Preserved Crops: The Case of Mississippi Soybeans," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 33(3), pages 475-485, December.
    5. MacDonald, Stephen & Naik, Gopal & Landes, Rip, 2010. "Markets, Institutions, and the Quality of Agricultural Products: Cotton Quality in India," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61854, Agricultural and Applied Economics Association.
    6. Jordan, Jeffrey L. & Shewfelt, R.L. & Hurst, W.C. & Prussia, Stanley E., 1985. "Pricing Quality Attributes At The Wholesale Level," Journal of Food Distribution Research, Food Distribution Research Society, vol. 16(2), pages 1-5, September.
    7. Brorsen, B. Wade & Grant, Warren R. & Rister, M. Edward, 1988. "Some Effects of Rice Quality on Rough Rice Prices," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 20(1), pages 131-140, July.
    8. Richards, Timothy J. & Jeffrey, Scott R., 1995. "Hedonic Pricing of Dairy Bulls - An Alternative Index of Genetic Merit," Project Report Series 24035, University of Alberta, Department of Resource Economics and Environmental Sociology.
    9. Constantine, John H & Alston, Julian M & Smith, Vincent H, 1994. "Economic Impacts of the California One-Variety Cotton Law," Journal of Political Economy, University of Chicago Press, vol. 102(5), pages 951-974, October.
    10. Larkin, Sherry L. & Sylvia, Gilbert, 1998. "Firm-Level Hedonic Analyses Of U.S. Produced Surimi: Implications For Processors And Resource Managers," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20916, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    11. Ahmadi-Esfahani, Fredoun Z. & Stanmore, Roland G., 1997. "Export demand for attributes of Australian wheat in Asia and the Middle East," Food Policy, Elsevier, vol. 22(2), pages 145-154, April.
    12. Chenhall, Daranee & Fraser, Rob W., 1990. "Beef Quality Preferences in Western Australia," 1990 Conference (34th), February 13-15, 1990, Brisbane, Australia 144924, Australian Agricultural and Resource Economics Society.
    13. Anwar, Dr. Mumtaz & Shabbir, Dr. Ghulam & Shahid, M. Hassam & Samreen, Wajiha, 2015. "Determinants of Potato Prices and its Forecasting: A Case Study of Punjab, Pakistan," MPRA Paper 66678, University Library of Munich, Germany.
    14. Estes, Edmund A. & Smith, V. Kerry, 1996. "Price, Quality, And Pesticide Related Health Risk Considerations In Fruit And Vegetable Purchases: An Hedonic Analysis Of Tucson, Arizona Supermarkets," Journal of Food Distribution Research, Food Distribution Research Society, vol. 27(3), pages 1-18, October.
    15. Jordan, Jeffery L. & Shewfelt, R.L. & Prussia, S.E. & Hurst, W.C., 1985. "Estimating Implicit Marginal Prices of Tomatoes Using A Flexible Functional Form," 1985 Annual Meeting, August 4-7, Ames, Iowa 278650, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    16. Ekanem, Enefiok P. & Sundquist, W. Burt, 1993. "Estimating Marginal Implicit Prices For Selected Quality Attributes Of Hybrid Seed Corn," Staff Papers 13473, University of Minnesota, Department of Applied Economics.
    17. 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(1), pages 1-7, July.
    18. Ethridge, Don & Neeper, Jarral, 1985. "Estimated Losses From Bark in Cotton Lint, Texas High Plains," Archive 259789, Texas Tech University, Department of Agricultural and Applied Economics.
    19. Nolan, Elizabeth & Farrell, Terence & Ryan, Madeleine & Gibbon, Candice & Ahmadi-Esfahani, Fredoun Z., 2014. "Valuing quality attributes of Australian merino wool," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 58(3), July.
    20. Estes, Edmund A., 1986. "Estimation Of Implicit Prices For Green Pepper Quality Attributes Using An Hedonic Framework," Journal of Food Distribution Research, Food Distribution Research Society, vol. 17(2), pages 1-11, September.
    21. Chen, Changping & Ethridge, Don E. & Fletcher, Stanley M., 1997. "Textile Manufacturers' Market Valuation Of Cotton Fiber Attributes," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 29(1), pages 1-11, July.

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