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Optimal Grade Definitions For Multiple Quality Characteristics

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  • Lyford, Conrad P.
  • Starbird, S. Andrew

Abstract

The growing importance of quality in agricultural markets makes effective segregation and grading essential to efficient marketing strategy. In this paper, we develop an economic model, potentially applicable to many products, to determine optimal segregation strategies based on multiple stochastic quality measures. The model is applied to Oklahoma wheat quality data.

Suggested Citation

  • Lyford, Conrad P. & Starbird, S. Andrew, 2000. "Optimal Grade Definitions For Multiple Quality Characteristics," 2000 Annual meeting, July 30-August 2, Tampa, FL 21728, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea00:21728
    DOI: 10.22004/ag.econ.21728
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    References listed on IDEAS

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    1. David A. Hennessy & Thomas I. Wahl, 1997. "Discount Schedules and Grower Incentives in Grain Marketing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(3), pages 888-901.
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    Keywords

    Marketing;

    Statistics

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