Evaluating alternative price expectation models for multiproduct supply analysis

dc.contributor.author	McIntosh, CS	en
dc.contributor.author	Shumway, CR	en
dc.date.accessioned	2014-06-06T06:42:33Z
dc.date.available	2014-06-06T06:42:33Z
dc.date.issued	1994	en
dc.identifier.issn	01695150	en
dc.identifier.uri	http://62.217.125.90/xmlui/handle/123456789/683
dc.relation.uri	http://www.scopus.com/inward/record.url?eid=2-s2.0-0027942826&partnerID=40&md5=3115d3c39d3b09cad1683929b1c5c935	en
dc.subject.other	agricultural product	en
dc.subject.other	integrated approach	en
dc.subject.other	modelling approach	en
dc.subject.other	multi-product supply	en
dc.subject.other	price expectation	en
dc.subject.other	supply analysis	en
dc.subject.other	theoretical studies	en
dc.subject.other	USA, Iowa	en
dc.title	Evaluating alternative price expectation models for multiproduct supply analysis	en
heal.type	journalArticle	en
heal.publicationDate	1994	en
heal.abstract	Neoclassical economic theory provides an important conceptual framework for the analysis of agricultural production. Theory provides little guidance, however, in the actual specification of empirical models. This paper applies an integrated approach for choosing between price expectation mechanisms in a multiple-equation model when the alternatives are non-nested. Nine alternative specifications of market price and policy information are developed. Price forecasting accuracy, non-nested tests of hypotheses, and out-of-sample predictive accuracy are examined for agricultural production in Iowa. The results call into question the reliability of using forecasting accuracy as the sole guide to selecting a price expectation proxy. © 1994.	en
heal.journalName	Agricultural Economics	en
dc.identifier.issue	1	en
dc.identifier.volume	10	en
dc.identifier.spage	1	en
dc.identifier.epage	11	en