On the effects of technology improvements in multi-market models: Theory and evidence

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On the effects of technology improvements in multi-market models: Theory and evidence

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Dimitrios Dadakas () (Department of Economics, University of Macedonia)
Stelios D Katranidis () (Department of Economics, University of Macedonia)
David S. Bullock () (Department of Agricultural and Consumer Economics, University of Illinois)

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Abstract

The purpose of this paper is to develop the methodology that allows the inclusion of a technology variable in multi-market welfare models. We compare the price induced welfare effects obtained from a multimarket technology-inclusive model, a multimarket technology-exclusive model and a single-market model. An application to the Greek cotton market shows that the omission of the effects of technology biases the estimated welfare effects. Moreover, welfare estimates from the multi-market approach carry superior statistical properties than estimates obtained from the single-market approach.

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Paper provided by Department of Economics, University of Macedonia in its series Discussion Paper Series with number 2009_04.

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Date of creation: Mar 2009
Date of revision: Mar 2009
Handle: RePEc:mcd:mcddps:2009_04

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Find related papers by JEL classification:
D6 - Microeconomics - - Welfare Economics
F1 - International Economics - - Trade
C0 - Mathematical and Quantitative Methods - - General

This paper has been announced in the following NEP Reports:

NEP-AGR-2009-03-22 (Agricultural Economics)
NEP-ALL-2009-03-22 (All new papers)

References listed on IDEAS
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Stelios D. Katranidis & Elisavet I. Nitsi & David S. Bullock, 2005. "The effects of EU corn, cotton, and sugar beet policies on Greek producers: a multimarket analysis," Agricultural Economics, International Association of Agricultural Economists, vol. 33(s3), pages 423-430, November. [Downloadable!] (restricted)
Stelios Katranidis & Gregory Kordas & Kostas Velentzas, 2003. "Welfare analysis and bootstrapping," Applied Economics Letters, Taylor and Francis Journals, vol. 10(6), pages 335-338, April. [Downloadable!] (restricted)
Jeong, Kyeong-Soo & Garcia, Philip & Bullock, David S., 2003. "A statistical method of multi-market welfare analysis applied to Japanese beef policy liberalization," Journal of Policy Modeling, Elsevier, vol. 25(3), pages 237-256, April. [Downloadable!] (restricted)
Dimitrios Dadakas & Stelios Katranidis, 2008. "Single Versus Multi-market Approach: An Application to the Greek Cotton Market," Atlantic Economic Journal, International Atlantic Economic Society, vol. 36(4), pages 469-481, December. [Downloadable!] (restricted)

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