A SYSTEM APPROACH TO MODELLING SUPPLY EQUATIONS IN AGRICULTURE

Ronald Bewley · Trevor Young · David R. Colman

37 citations0/0 files storedJournal of Agricultural Economics

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Agricultural economics and policies Economics of Agriculture and Food Markets Agricultural Economics and Policy

Abstract

A multinomial logit model is a useful approach in the study of the allocation of a fixed resource between alternative uses. Here a geometric mean form of the system is presented and a number of theoretical and empirical issues are explored. In particular, its performance is compared with the use of double logarithmic equations estimated separately. As an illustration of the methodology, an allocation model of UK cereals area is specified and estimated in both static and dynamic forms.

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References

1980An Almost Ideal Demand System 1992The Information Approach to Demand Analysis 1965The Information Approach to Demand Analysis 1964Consumer Demand Functions under Conditions of Almost Additive Preferences 1992A Multinomial Extension of the Linear Logit Model 1969A Multinomial Extension of the Linear Logit Model 1970Discount House Portfolio and Debt Selection 2022Allocation models : specification, estimation and applications

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2012The impacts of crop yield and price volatility on producers’ cropping patterns: A dynamic optimal crop rotation model 2001Dynamic Area Allocation and Economies of Scale and Scope 1988RESEARCH PRIORITIES IN AGRICULTURE

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