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Beef Supply Response Under Uncertainty: An Autoregressive Distributed Lag Model

  • Mbaga, Msafiri Daudi
  • Coyle, Barry T.
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    This is the first econometric study of dynamic beef supply response to incorporate risk aversion or, more specifically, price variance. Autoregressive distributed lag (ADL) models are estimated for cow-calf and feedlot operations using aggregate data for Alberta. In all cases, output price variance has a negative impact on output supply and investment. Moreover, the impacts of expected price on supply response are greater in magnitude and significance than in risk-neutral models.

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    File URL: http://purl.umn.edu/31068
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    Article provided by Western Agricultural Economics Association in its journal Journal of Agricultural and Resource Economics.

    Volume (Year): 28 (2003)
    Issue (Month): 03 (December)
    Pages:

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    Handle: RePEc:ags:jlaare:31068
    Contact details of provider: Web page: http://waeaonline.org/

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