Beef Supply Response under Uncertainty: An Autoregressive Distributed Lag Model

Journal of Agricultural and Resource Economics

关键词: autoregressive distributed lag model;    beef supply response;    dynamics;    uncertainty;   

DOI  :  10.22004/ag.econ.31068

来源: DOAJ

【 摘 要 】

This is the first econometric study of dynamic beef supply response to incorporate risk aversion or, more specifically, price variance. Autoregressive distributed lag (ADL) models are estimated for cow-calf and feedlot operations using aggregate data for Alberta. In all cases, output price variance has a negative impact on output supply and investment. Moreover, the impacts of expected price on supply response are greater in magnitude and significance than in risk-neutral models.

【 授权许可】

Unknown