文章基本信息

标题：ACREAGE RESPONSE, EXPECTED PRICE FUNCTIONS, AND ENDOGENOUS PRICE EXPECTATIONS
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作者：Choi, Jung-Sup ; Helmberger, Peter G.
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：1993
出版社：Food Distribution Research Society
摘要：Taking the price of futures as a proxy for expected price, this article treats acreage planted to soybean, the price of futures, and other variables as jointly dependent. A futures price equation is embedded in a simultaneous equations model along with the consumption demand and acreage response. The model is estimated using both ordinary and three-stage least squares. Estimated price elasticities for consumption demand, demand for stocks, and acreage response equal, respectively, -.5, -1.8, and +.2 (short run) and +.59 (long run).