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Rationality, Price Risk, And Response

  • Seale, James L., Jr.
  • Shonkwiler, John Scott

Risk has long been recognized as potentially important in determining agricultural supply. However, supply response models have either incorporated risk in an ad hoc manner or not at all. A rational expectations supply response model incorporating price risk is developed, an estimation procedure suggested, and an empirical example presented.

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File URL: http://purl.umn.edu/29317
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Article provided by Southern Agricultural Economics Association in its journal Southern Journal of Agricultural Economics.

Volume (Year): 19 (1987)
Issue (Month): 01 (July)
Pages:

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Handle: RePEc:ags:sojoae:29317
Contact details of provider: Web page: http://www.saea.org/jaae/jaae.htm

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  1. repec:cup:cbooks:9780521474009 is not listed on IDEAS
  2. Wallis, Kenneth F, 1980. "Econometric Implications of the Rational Expectations Hypothesis," Econometrica, Econometric Society, vol. 48(1), pages 49-73, January.
  3. Eckstein, Zvi, 1984. "A Rational Expectations Model of Agricultural Supply," Journal of Political Economy, University of Chicago Press, vol. 92(1), pages 1-19, February.
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