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Farm Level Demand For Pecans Reconsidered

Author

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  • Wells, Gary J.
  • Miller, Stephen E.
  • Thompson, C. Stassen

Abstract

Previous studies have consistently indicated the anomalous result of a price inflexible demand for pecans. However, these efforts did not have an adequate measure of pecan stocks available and, as a result, stocks were either excluded from consideration or a proxy variable was introduced. A time series of pecan stocks is now available. Use of this time series in a price dependent demand function results in a flexible farm level demand for pecans. This points out the danger of excluding an appropriate variable or using a so-called "reasonable" proxy variable.

Suggested Citation

  • Wells, Gary J. & Miller, Stephen E. & Thompson, C. Stassen, 1986. "Farm Level Demand For Pecans Reconsidered," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 18(01), July.
  • Handle: RePEc:ags:sojoae:29447
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    File URL: http://purl.umn.edu/29447
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    Cited by:

    1. Cheng, Guo & Dharmasena, Senarath & Capps, Oral Jr, 2017. "The Taste for Variety: Demand Analysis for Nut Products in the United States," 2017 Annual Meeting, February 4-7, 2017, Mobile, Alabama 252719, Southern Agricultural Economics Association.

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    Keywords

    Crop Production/Industries;

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