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Intraseasonal Demand for Fall Potatoes under Rational Expectations

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  • Mario J. Miranda
  • Joseph W. Glauber

Abstract

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.

Suggested Citation

  • Mario J. Miranda & Joseph W. Glauber, 1993. "Intraseasonal Demand for Fall Potatoes under Rational Expectations," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(1), pages 104-112.
    • Handle: RePEc:oup:ajagec:v:75:y:1993:i:1:p:104-112.
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    File URL: http://hdl.handle.net/10.2307/1242958
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    Cited by:

    1. Christophe Gouel, 2012. "Agricultural Price Instability: A Survey Of Competing Explanations And Remedies," Journal of Economic Surveys, Wiley Blackwell, vol. 26(1), pages 129-156, February.
    2. Anna Kormilitsina, 2013. "Solving Rational Expectations Models with Informational Subperiods: A Perturbation Approach," Computational Economics, Springer;Society for Computational Economics, vol. 41(4), pages 525-555, April.
    3. Byung Min Soon & Jarrett Whistance, 2019. "Seasonal Soybean Price Transmission between the U.S. and Brazil Using the Seasonal Regime-Dependent Vector Error Correction Model," Sustainability, MDPI, vol. 11(19), pages 1-9, September.
    4. Ekman, Sone & Andersson, Hans, 1998. "The economics of on-farm processing: model development and an empirical analysis," Agricultural Economics, Blackwell, vol. 18(2), pages 177-189, March.
    5. Chaudhry, Muhammad Imran & Katchova, Ani & Miranda, Mario Javier, 2016. "Examining pricing mechanics in the poultry value chain - empirical evidence from Pakistan," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235953, Agricultural and Applied Economics Association.
    6. Richards, Timothy J. & Kagan, Albert & Gao, Xiaoming, 1997. "Factors Influencing Changes In Potato And Potato Substitute Demand," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 26(1), pages 1-15, April.
    7. Goodwin, W. & Guenthner, J. & McIntosh, Christopher R. & Johnson, A. & Watson, P. & Thornton, M., 2012. "Economic Impacts of Increasing the Minimum Size for Idaho Fresh Potatoes," Journal of Food Distribution Research, Food Distribution Research Society, vol. 43(3), November.

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