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A Hedonic Price Model for Rough Rice Bid/Acceptance Markets

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  • B. Wade Brorsen
  • Warren R. Grant
  • M. Edward Rister

Abstract

Several quality factors are important in valuing rough rice. This paper first evaluates the ability of federal grades to explain these factors. Second, the discounts associated with various quality factors are estimated. Finally, the factors affecting acceptance of a bid are investigated. The results indicate grades are useful but inadequate in explaining observed quality differentials. The major quality factor in determining price was head yield. Stinkbug damage was the most important quality factor of those that producers could control. The probability of acceptance increased with higher than expected bids, smaller lot sizes, more bidders, and as the marketing season progressed.

Suggested Citation

  • B. Wade Brorsen & Warren R. Grant & M. Edward Rister, 1984. "A Hedonic Price Model for Rough Rice Bid/Acceptance Markets," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(2), pages 156-163.
  • Handle: RePEc:oup:ajagec:v:66:y:1984:i:2:p:156-163.
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    File URL: http://hdl.handle.net/10.2307/1241032
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