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A Bayesian Analysis of Vegetable Production in Japan

Author

Listed:
  • Akira Hibiki

    (Tohoku University)

  • Koji Miyawaki

    (Tohoku University
    Kwansei Gakuin University)

Abstract

Microeconomic theory often assumes that a producer maximizes its profit. As a consequence, under perfect competition, the optimal production amount is either zero or positive, where the latter satisfies the condition that the price is equal to the cost for the additional production amount (the marginal cost). This paper proposes two statistical models directly derived from this relationship and develops a Bayesian estimation method for the parameters included in this relationship. The models are applied to analyze vegetable production in Japan.

Suggested Citation

  • Akira Hibiki & Koji Miyawaki, 2025. "A Bayesian Analysis of Vegetable Production in Japan," Journal of Agricultural, Biological and Environmental Statistics, Springer;The International Biometric Society;American Statistical Association, vol. 30(4), pages 1039-1067, December.
    • Handle: RePEc:spr:jagbes:v:30:y:2025:i:4:d:10.1007_s13253-024-00633-x
    DOI: 10.1007/s13253-024-00633-x
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