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Probability Distributions Of Crop Prices, Yields, And Gross Revenue

Author

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  • Tew, Bernard V.
  • Reid, Donald W.

Abstract

This study shows that the price-yield correlation is a major influence in determining the skewness of revenue. Therefore, normality for revenue may not be rejected even if the price and/or yield distributions are significantly skewed. Analysis of cotton revenue for Mississippi shows that this can be the case empirically when the correlation between price and yield is moderately negative and the relative variability of yield and price is not too high. Hence, for crops produced in their major production regions where negative correlations between prices and yields are the greatest, revenue distributions may have a greater tendency toward normal.

Suggested Citation

  • Tew, Bernard V. & Reid, Donald W., 1988. "Probability Distributions Of Crop Prices, Yields, And Gross Revenue," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 17(2), October.
  • Handle: RePEc:ags:nejare:28827
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    File URL: http://purl.umn.edu/28827
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    References listed on IDEAS

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    1. Robert N. Collender & David Zilberman, 1985. "Land Allocation under Uncertainty for Alternative Specifications of Return Distributions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(4), pages 779-786.
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    Cited by:

    1. Hammida, Mustapha & Eidman, Vernon R., 1991. "Livestock And Poultry Production Risk In The United States," Staff Papers 14016, University of Minnesota, Department of Applied Economics.

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    Keywords

    Crop Production/Industries;

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