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Performance of Alternative Component Pricing Systems for Pork

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  • Brorsen, B. Wade
  • Akridge, Jay T.
  • Boland, Michael A.
  • Mauney, Sean
  • Forrest, John C.

Abstract

One method of implementing value-based marketing is a component pricing system. This research develops and evaluates alternative component pricing systems for pork. Two electronic technologies for estimating carcass components (optical probe and electromagnetic scanner) were evaluated on two sets of data representing different populations. Model accuracy increased as additional components were added.

Suggested Citation

  • Brorsen, B. Wade & Akridge, Jay T. & Boland, Michael A. & Mauney, Sean & Forrest, John C., 1998. "Performance of Alternative Component Pricing Systems for Pork," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 30(2), pages 313-324, December.
    • Handle: RePEc:cup:jagaec:v:30:y:1998:i:02:p:313-324_00
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    References listed on IDEAS

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    1. Lawrence, John D., 1996. "Factors That Influence Prices Producers Receive for Hogs: Statistical Analysis of Killsheet and Survey Data," ISU General Staff Papers 199603010800001278, Iowa State University, Department of Economics.
    2. M. A. Boland & K. A. Foster & J. T. Akridge, 1995. "Packer sorting strategies for fresh pork," Agribusiness, John Wiley & Sons, Ltd., vol. 11(5), pages 423-430.
    3. Ashley, R & Granger, C W J & Schmalensee, R, 1980. "Advertising and Aggregate Consumption: An Analysis of Causality," Econometrica, Econometric Society, vol. 48(5), pages 1149-1167, July.
    4. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    5. Marvin L. Hayenga & Barbara S. Grisdale & Robert G. Kauffman & H. Russell Cross & Lauren L. Christian, 1985. "A Carcass Merit Pricing System for the Pork Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(2), pages 315-319.
    6. Hayenga, Marvin L. & Grisdale, Barbara & Kauffman, Robert G. & Cross, H. R. & Christian, Lauren L., 1985. "Carcass Merit Pricing Systems in the Pork Industry," Staff General Research Papers Archive 11308, Iowa State University, Department of Economics.
    7. William H. Lesser, 1982. "The Impact of Component Pricing of Soybeans and Milk: Comment," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 64(1), pages 161-163.
    8. John D. LAWRENCE, 1996. "Factors That Influence Prices Producers Receive For Hogs: Statistical Analysis Of Killsheet And Survey Data," Staff Papers 279, Iowa State University Department of Economics.
    9. Mark D. Jekanowski & Jay T. Akridge & B. Wade Brorsen & Sean Mauney & Allan Schinckel, 1996. "Measuring the Effects of PST on Swine Carcass Value," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 18(1), pages 21-30.
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    1. Li, Ning & Preckel, Paul V. & Foster, Kenneth A. & Schinckel, Allan P., 2003. "Analysis of Economically Optimal Nutrition and Marketing Strategies for Paylean® Usage in Hog Production," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 28(2), pages 1-15, August.
    2. Chavas, Jean-Paul & Kim, Kwansoo, 2001. "Hedonic Pricing of Components and Cointegration Relationships: A Dynamic Analysis of Dairy Product Prices," Working Papers 201572, University of Wisconsin-Madison, Department of Agricultural and Applied Economics, Food System Research Group.

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