Intraseasonal demand for fall potatoes under rational expectations

An iterative numerical strategy combining maximum likelihood methods and stochastic-dynamic programming is used to estimate a dynamic nonlinear rational expectations model of the U.S. fall potato market. The model captures the essential processes governing the intraseasonal dynamics of potato consum...

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Bibliographic Details
Published in:American journal of agricultural economics 1993-02, Vol.75 (1), p.104-112
Main Authors: Miranda, Mario J., Glauber, Joseph W.
Format: Article
Language:English
Subjects:
Agricultural economics
ALMACENAMIENTO
AUTOMNE
commodity storage
Demand
DEMANDA
DEMANDE
Economic expectations
Economic models
ESTACIONES DEL ANO
ESTADOS UNIDOS DE AMERICA
Estimation methods
ETATS UNIS
fall potatoes
Food processing
Market demand
Market prices
Marketing
Maximum likelihood estimation
MODELE DYNAMIQUE
MODELE MATHEMATIQUE
MODELOS DINAMICOS
MODELOS MATEMATICOS
nonlinear rational expectations models
OTONO
PAPA
PERIODICIDAD
PERIODICITE
POMME DE TERRE
Potatoes
PRECIOS DE MERCADO
Price elasticity
PRIX DE MARCHE
Q110
Rational expectations
Rational expectations theory
SAISON
STOCKAGE
Supply & demand
TEORIAS ECONOMICAS
THEORIE ECONOMIQUE
U.S.A
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Description
Summary:An iterative numerical strategy combining maximum likelihood methods and stochastic-dynamic programming is used to estimate a dynamic nonlinear rational expectations model of the U.S. fall potato market. The model captures the essential processes governing the intraseasonal dynamics of potato consumption and storage, including the impact of price expectations on stockholding decisions. The model is used to analyze the temporal pattern of demand for fall potatoes.
ISSN:0002-9092
1467-8276
DOI:10.2307/1242958