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Washington Biofuel Feedstock Crop Supply Analysis

Author

Listed:
  • Qiujie Zheng
  • C. Richard Shumway

    () (School of Economic Sciences, Washington State University)

Abstract

Biofuels, as alternative transportation fuels, are now being used globally. Taking advantage of in-state feedstock supply is an efficient way to stimulate in-state biofuel industries and the local economy. This paper uses several models to estimate supply equations for major biofuel feedstock crops in Washington. We estimate expected utility maximization models, expected profit maximization models, and several pragmatic models. We examine the comparative statics results of the models, and use the results to draw important implications for Washington policy makers and for farmers who are considering production of biofuel feedstocks.

Suggested Citation

  • Qiujie Zheng & C. Richard Shumway, 2008. "Washington Biofuel Feedstock Crop Supply Analysis," Working Papers 2008-24, School of Economic Sciences, Washington State University.
  • Handle: RePEc:wsu:wpaper:shumway-9
    as

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    File URL: http://faculty.ses.wsu.edu/WorkingPapers/Shumway/biofuels_supply_altern-082608_WP2008-24.pdf
    File Function: First version, 2008
    Download Restriction: no

    References listed on IDEAS

    as
    1. Atanu Saha & C. Richard Shumway & Hovav Talpaz, 1994. "Joint Estimation of Risk Preference Structure and Technology Using Expo-Power Utility," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(2), pages 173-184.
    2. Westhoff, Patrick C., 2006. "FAPRI Ethanol Briefing Materials for Congressman Peterson," FAPRI-MU Report Series 44878, Food and Agricultural Policy Research Institute at University of Missouri.
    3. Shon P. Williams & C. Richard Shumway, 2000. "Trade Liberalization and Agricultural Chemical Use: United States and Mexico," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(1), pages 183-199.
    4. Subal C. Kumbhakar, 2002. "Specification and Estimation of Production Risk, Risk Preferences and Technical Efficiency," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(1), pages 8-22.
    5. Chavas, Jean-Paul & Holt, Matthew T, 1996. "Economic Behavior under Uncertainty: A Joint Analysis of Risk Preferences and Technology," The Review of Economics and Statistics, MIT Press, vol. 78(2), pages 329-335, May.
    6. Atanu Saha & C. Richard Shumway, 1998. "Refutable implications of the firm model under risk," Applied Economics, Taylor & Francis Journals, vol. 30(4), pages 441-448.
    7. Lim, Hongil & Shumway, C Richard, 1992. "Profit Maximization, Returns to Scale, and Measurement Error," The Review of Economics and Statistics, MIT Press, vol. 74(3), pages 430-438, August.
    8. V. Eldon Ball & Charles Hallahan & Richard Nehring, 2004. "Convergence of Productivity: An Analysis of the Catch-up Hypothesis within a Panel of States," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(5), pages 1315-1321.
    9. C. Richard Shumway, 1983. "Supply, Demand, and Technology in a Multiproduct Industry: Texas Field Crops," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(4), pages 748-760.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    biofuel feedstock; output uncertainty; price uncertainty; profit maximization; supply;

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