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Some Old Truths Revisited

  • Piggott, Roley R.
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    The primary objective in this paper is to 'promote' the use of equilibrium displacement modeling, or comparative static analysis of general function models, as a research tool in agricultural price and policy analyses. This is by no means a new tool, but it does seem to be used much less in Australia than it is in the US where it has been the basis of several important journal papers in recent times, The paper includes applications to: (a) reproduce important results obtained by Euse (1958) regarding total elasticities; and (b) examine the price premium argument that has been advanced in favour of single-desk selling arrangements. The latter is the secondary objective in the paper. Whilst equilibrium displacement modelling has its shortcomings, it is a research tool that can provide useful results with few assumptions. It can be a substitute for econometric modelling when resource and time constraints are binding. The application to the price-premium argument re-confirms the doubts that many analysts have expressed about single-desk selling.

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    File URL: http://purl.umn.edu/22504
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    Article provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural Economics.

    Volume (Year): 36 (1992)
    Issue (Month): 02 (August)
    Pages:

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    Handle: RePEc:ags:ajaeau:22504
    Contact details of provider: Postal: AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200
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    1. Freebairn, John W. & Gruen, Fred H.G., 1977. "Marketing Australian Beef And Export Diversification Schemes," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 21(01), April.
    2. Grant M. Scobie & John D. Mullen & Julian M. Alston, 1991. "The Returns To Investment In Research On Australian Wool Production," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 35(2), pages 179-195, 08.
    3. Smith, Ben, 1977. "Bilateral Monopoly and Export Price Bargaining in the Resource Goods Trade," The Economic Record, The Economic Society of Australia, vol. 53(141), pages 30-50, March.
    4. Thomas W. Hertel, 1991. "Factor Market Incidence Of Agricultural Trade Liberalization: Some Additional Results," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 35(1), pages 91-107, 04.
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