Open Access. Powered by Scholars. Published by Universities.®

Other Economics Commons

Open Access. Powered by Scholars. Published by Universities.®

Articles 1 - 6 of 6

Full-Text Articles in Other Economics

Value Of Beef Steak Branding: Hedonic Analysis Of Retail Scanner Data, Lee L. Schulz, Ted C. Schroeder, Katharine L. White Jan 2012

Value Of Beef Steak Branding: Hedonic Analysis Of Retail Scanner Data, Lee L. Schulz, Ted C. Schroeder, Katharine L. White

Economics Publications

Consumers rely on experience and credence attributes when purchasing beef from retailers. It is essential for all beef industry sectors to recognize the complexity of consumer buying behavior. A hedonic model is estimated to determine if there are incentives to brand beef steaks, the types of brands that entertain price premiums, and the level of existing premiums. Most branded steaks garnered premiums along with organic claims, religious processing claims, and premium cuts. Factors influencing brand value were new brands targeting emerging consumer trends, brands with regional prominence, and brands positioned as special label, program/breed specific production, and store labels.


Testing For Cointegration In The Presence Of Moving Average Errors, Mindy Mallory, Sergio H. Lence Jan 2012

Testing For Cointegration In The Presence Of Moving Average Errors, Mindy Mallory, Sergio H. Lence

Economics Publications

This study explores performance of the Johansen cointegration statistics on data containing negative moving average (NMA) errors. Monte Carlo experiments demonstrate that the asymptotic distributions of the statistics are sensitive to NMA parameters, and that using the standard 5% asymptotic critical values results in severe underestimation of the actual test sizes. We demonstrate that problems associated with NMA errors do not decrease as sample size increases; instead, they become more severe. Further we examine evidence that many U.S. commodity prices are characterized by NMA errors. Pretesting data is recommended before using standard asymptotic critical values for Johansen’s cointegration ...


Readdressing The Fertilizer Problem, Nicholas D. Paulson, Bruce A. Babcock Jan 2010

Readdressing The Fertilizer Problem, Nicholas D. Paulson, Bruce A. Babcock

Economics Publications

The production literature has shown that inputs such as fertilizer can be defined as riskincreasing. However, farmers also consistently overapply nitrogen. A model of optimal input use under uncertainty is used to address this paradox. Using experimental data, a stochastic production relationship between yield and soil nitrate is estimated. Numerical results show that input uncertainty may cause farmers to overapply nitrogen. Survey data suggest that farmers are risk averse, but prefer small chances of high yields compared to small chances of crop failures when expected yields are equivalent. Furthermore, yield risk and yield variability are not equivalent.


Structural Change In Cigarette Demand: Cusum Tests Using Panel Data, John R. Schroeter, Aju J. Fenn Jan 2005

Structural Change In Cigarette Demand: Cusum Tests Using Panel Data, John R. Schroeter, Aju J. Fenn

Economics Publications

We conduct custom tests of structural change in a rational addiction model of cigarette demand estimated using a panel of annual time series of state−level data. In contrast to the one previous application of custom tests to the question of cigarette demand stability, our results provide strong evidence of downward shifts in demand during the modern era of health warnings and anti−smoking campaigns.


International Trade, Factor-Market Distortions, And The Optimal Dynamic Subsidy: Reply, Harvey E. Lapan Dec 1978

International Trade, Factor-Market Distortions, And The Optimal Dynamic Subsidy: Reply, Harvey E. Lapan

Economics Publications

James Cassing and Jack Ochs' comment is, I believe, a very interesting extension of the analysis of my paper. Their two basic results are: (i) that congestion will occur in the search for jobs; and (ii) that given costly labor mobility, private decisions regarding voluntary quits will yield a socially optimal adjustment path if individuals have perfect foresight and if there is no congestion (externality) in the search process. Thus, they argue that even if factor prices are not rigid, the presence of congestion in the search process implies private decisions will not be socially optimal, and therefore that a ...


The Rising Price Of Physicians' Services: A Clarification, Douglas Brown, Martin Feldstein, Harvey Lapan Aug 1974

The Rising Price Of Physicians' Services: A Clarification, Douglas Brown, Martin Feldstein, Harvey Lapan

Economics Publications

Several years ago, one of us presented a model of the market for physicians' services (Feldstein, 1970). In a subsequent comment, Brown and Lapan ( 1972) raised several questions about the model and the conclusions. Unfortunately, this comment and the reply by Feldstein ( 1972) left a number of issues unsettled. Some of the disagreement was based on misunderstanding and on drawing infer­ ences from different theoretical models. After the publication of the comment and reply, we continued to pursue the basis of our disagreements. The cur­ rent note is an attempt to clarify the issues that were raised but not resolved ...