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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," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 18(1), pages 157-160, July.
    • Handle: RePEc:cup:jagaec:v:18:y:1986:i:01:p:157-160_00
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    Cited by:

    1. Jee W. Hwang & Okmyung Bin, 2019. "Effects Of Changes In Climatic Conditions On New Mexico Pecan Production, Price, And Cash Receipts," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 10(02), pages 1-11, May.
    2. 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.
    3. Okunade, Albert A. & Cochran, Mark J., 1991. "Functional Forms and Farm-Level Demand for Pecans by Variety," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 23(2), pages 95-102, December.

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