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The Market for Winter Tomatoes: A Rational Expectations Interpretation

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  • Shonkwiler, J. Scott
  • Emerson, Robert D.

Abstract

A model of the Florida tomato industry is formulated under the hypothesis that growers make production decisions as rational economic agents. This assumption implies that anticipated Mexican tomato imports as well as other economic variables are taken into account when the planting decision is made. Maximum likelihood estimation methods are used to solve the simultaneous equations model, and the implications of the model's reduced form are analyzed.

Suggested Citation

  • Shonkwiler, J. Scott & Emerson, Robert D., 1981. "The Market for Winter Tomatoes: A Rational Expectations Interpretation," 1981 Annual Meeting, July 26-29, Clemson, South Carolina 279305, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea81:279305
    DOI: 10.22004/ag.econ.279305
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    References listed on IDEAS

    as
    1. Richard E. Just, 1974. "An Investigation of the Importance of Risk in Farmers' Decisions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(1), pages 14-25.
    2. repec:ags:agsaem:288652 is not listed on IDEAS
    3. William J. Baumol, 1963. "An Expected Gain-Confidence Limit Criterion for Portfolio Selection," Management Science, INFORMS, vol. 10(1), pages 174-182, October.
    4. Joyce T. Chen & C. B. Baker, 1974. "Marginal Risk Constraint Linear Program for Activity Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(3), pages 622-627.
    5. Wayne Thomas & Leroy Blakeslee & LeRoy Rogers & Norman Whittlesey, 1972. "Separable Programming for Considering Risk in Farm Planning," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(2), pages 260-266.
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