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Aggregate Versus Disaggregate Analysis: Corn and Soybean Acreage Response in Illinois

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  • Wayne I. Park
  • Philip Garcia

Abstract

Tradeoffs between aggregation and specification errors and their implications for forecasting and policy analysis make it difficult to determine the most appropriate level of aggregation for econometric analysis. Aggregation introduces bias in parameter estimates, but may reduce the effect of specification errors in the micro-level relationships. Here, tests and procedures for assessing the tradeoffs are applied to corn and soybean acreage response equations in Illinois. The results indicate that modeling acreage response in Illinois at the state level, rather than at the crop reporting district level, leads to little loss in predictive accuracy and provides parameter estimates more consistent with expectations.

Suggested Citation

  • Wayne I. Park & Philip Garcia, 1994. "Aggregate Versus Disaggregate Analysis: Corn and Soybean Acreage Response in Illinois," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 16(1), pages 17-26.
    • Handle: RePEc:oup:revage:v:16:y:1994:i:1:p:17-26.
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    File URL: http://hdl.handle.net/10.2307/1349517
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    Cited by:

    1. Shumway, C. Richard & Davis, George C., 2001. "Does consistent aggregation really matter?," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 45(2), pages 1-34.
    2. Jones, Rodney & Purcell, Wayne & Driscoll, Paul & Peterson, Everett, 1996. "Issues and Cautions in Employing Behavioral Modeling Approaches to Test for Market Power," Staff Papers 232517, Virginia Polytechnic Institute and State University, Department of Agricultural and Applied Economics.
    3. David S. Bullock & Philip Garcia & Kie‐Yup Shin, 2005. "Measuring producer welfare under output price uncertainty and risk non‐neutrality," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(1), pages 1-21, March.
    4. repec:ags:vtaesp:232464 is not listed on IDEAS

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