A normalized quadratic input distance system is applied to estimate inverse demand relationships for wheat by class. Semi-nonparametric and Bayesian estimators are used to impose curvature on inputs and outputs. Price flexibilities are estimated for hard red winter, hard red spring, soft red wheat, soft white winter, and durum wheat. Durum wheat is found to be the most price flexible. Economically and statistically important differences in price formation across classes of wheat are found and are supportive of government programs differentiating wheat by class.
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2003 Annual meeting, July 27-30, Montreal, Canada with number
22001.
Length: Date of creation: 2003 Date of revision: Handle: RePEc:ags:aaea03:22001
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