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Asymmetric price response behavior of Red Delicious apples

Author

Listed:
  • Lois Schertz Willett

    (Warren Hall, Cornell University, Ithaca, NY 14853-7801)

  • Michelle R. Hansmire

    (The Quaker Oats Company)

  • John C. Bernard

    (Department of Agricultural, Resource and Managerial Economics, Cornell University, Ithaca, New York)

Abstract

A three-step econometric modeling process incorporating lag lengths, causality, and asymmetric relationships was employed to evaluate the Red Delicious apple market. Results suggest that price responses in the Western, North Central, and Northeastern regions are asymmetric, do not occur immediately, and are not centered at the wholesale market level. Shipping point prices are symmetric in response to changes in wholesale and retail market prices. However, wholesale prices in each region react asymmetrically to changes in the shipping point price and|or the region's retail price. North Central consumers see retail prices change more in response to increases in shipping point prices than decreases. © 1997 John Wiley & Sons, Inc.

Suggested Citation

  • Lois Schertz Willett & Michelle R. Hansmire & John C. Bernard, 1997. "Asymmetric price response behavior of Red Delicious apples," Agribusiness, John Wiley & Sons, Ltd., vol. 13(6), pages 649-658.
  • Handle: RePEc:wly:agribz:v:13:y:1997:i:6:p:649-658 DOI: 10.1002/(SICI)1520-6297(199711/12)13:6<649::AID-AGR9>3.0.CO;2-3
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    References listed on IDEAS

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    1. Bailey, DeeVon & Brorsen, B. Wade, 1989. "Price Asymmetry In Spatial Fed Cattle Markets," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 14(02), December.
    2. Daniel H. Pick & Jeffrey Karrenbrock & Hoy F. Carman, 1990. "Price asymmetry and marketing margin behavior: An example for California-Arizona citrus," Agribusiness, John Wiley & Sons, Ltd., vol. 6(1), pages 75-84.
    3. Bernard, John C. & Willett, Lois Schertz, 1996. "Asymmetric Price Relationships In The U.S. Broiler Industry," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 28(02), December.
    4. Bernard, John C. & Willett, Lois Schertz, 1996. "Asymmetric Price Relationships in the U.S. Broiler Industry," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 28(02), pages 279-289, December.
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    Cited by:

    1. von Cramon-Taubadel, Stephan & Loy, Jens-Peter & Meyer, Jochen, 2003. "The Impact Of Data Aggregation On The Measurement Of Vertical Price Transmission: Evidence From German Food Prices," 2003 Annual meeting, July 27-30, Montreal, Canada 21987, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Girapunthong, Napaporn & VanSickle, John J. & Renwick, Alan W., 2003. "Price Asymmetry In The United States Fresh Tomato Market," Journal of Food Distribution Research, Food Distribution Research Society, vol. 34(03), November.
    3. Oral Capps & Pablo Sherwell, 2007. "Alternative approaches in detecting asymmetry in farm-retail price transmission of fluid milk," Agribusiness, John Wiley & Sons, Ltd., vol. 23(3), pages 313-331.
    4. Digal, Larry N. & Ahmadi-Esfahani, Fredoun Z., 2002. "Market power analysis in the retail food industry: a survey of methods," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 46(4), December.
    5. von Cramon-Taubadel, Stephan & Goetz, Linde, 2007. "Asymmetric Price Transmission in the Israeli Citrus Export Sector in the Aftermath of Liberalization," 103rd Seminar, April 23-25, 2007, Barcelona, Spain 9385, European Association of Agricultural Economists.
    6. Stephan von Cramon-Taubadel & Jens-Peter Loy & Jochen Meyer, 2006. "The impact of cross-sectional data aggregation on the measurement of vertical price transmission: An experiment with German food prices," Agribusiness, John Wiley & Sons, Ltd., vol. 22(4), pages 505-522.
    7. Santeramo, Fabio Gaetano & von Cramon-Taubadel, Stephan, 2016. "On Perishability and Vertical Price Transmission: empirical evidences from Italy," MPRA Paper 72735, University Library of Munich, Germany.
    8. Mkhabela, Thulasizwe S. & Nyhodo, Bonani, 2011. "Farm and Retail Prices in the South African Poultry Industry: Do the Twain Meet?," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IFAMA), vol. 14(3).
    9. Götz, Linde & von Cramon-Taubadel, Stephan & Kachel, Yael, 0. "Vertical Price Transmission in the International Fresh Fruit and Vegetable Supply Chain: Israeli Grapefruit Exports to the EU after Export Liberalisation," Quarterly Journal of International Agriculture, Humboldt-Universität zu Berlin, vol. 53.

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