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Demand And Quality Uncertainty In Pecan Purchasing Decisions

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  • Timothy PARK
  • Wojciech J. FLORKOWSKI

Abstract

Fixed search costs associated with locating and purchasing pecans invalidate the Tobit model. Factors such as perceived quality, ease of purchase, and familiarity with marketing outlets influence the fixed costs of pecan purchases. These factors have differing impacts on the probability of purchasing and the amount purchased based on the Heckman model. Failure to apply self-selectivity corrections produces misleading assessments of key variables influencing pecan purchases.

Suggested Citation

  • Timothy PARK & Wojciech J. FLORKOWSKI, 1996. "Demand And Quality Uncertainty In Pecan Purchasing Decisions," Faculty Series 96-22, University of Georgia, Department of Agricultural and Applied Economics.
    • Handle: RePEc:wop:geaafs:9622
    Note: Missing tables 1,2,3
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    References listed on IDEAS

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    1. Okunade, Albert A. & Cochran, Mark J., 1991. "Functional Forms and Farm-Level Demand for Pecans by Variety," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 23(2), pages 95-102, December.
    2. Cragg, John G, 1971. "Some Statistical Models for Limited Dependent Variables with Application to the Demand for Durable Goods," Econometrica, Econometric Society, vol. 39(5), pages 829-844, September.
    3. McDonald, John F & Moffitt, Robert A, 1980. "The Uses of Tobit Analysis," The Review of Economics and Statistics, MIT Press, vol. 62(2), pages 318-321, May.
    4. Moffitt, Robert, 1983. "An Economic Model of Welfare Stigma," American Economic Review, American Economic Association, vol. 73(5), pages 1023-1035, December.
    5. Scott, Frank & Garen, John, 1994. "Probability of purchase, amount of purchase, and the demographic incidence of the lottery tax," Journal of Public Economics, Elsevier, vol. 54(1), pages 121-143, May.
    6. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 31(3), pages 129-137.
    7. Williams, Floyd W. & Laplante, M.G. & Heaton, E.K., 1972. "The Consumer Market For Pecans And Competing Nuts," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 4(1), pages 1-6, July.
    8. Williams, F. W. & LaPlante, M. G. & Heaton, E. K., 1972. "The Consumer Market for Pecans and Competing Nuts," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 4(1), pages 101-106, July.
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    Cited by:

    1. Davis, Todd D. & Patrick, George F. & Coble, Keith H. & Knight, Thomas O. & Baquet, Alan E., 2005. "Forward Pricing Behavior of Corn and Soybean Producers," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 37(1), pages 145-160, April.
    2. Moore, Eli D. & Williams, Gary W., 2008. "Is the Texas Pecan Checkoff Program Working?," Reports 90497, Texas A&M University, Agribusiness, Food, and Consumer Economics Research Center.
    3. Lohr, Luanne, 1998. "Welfare Effects Of Eco-Label Proliferation: Too Much Of A Good Thing?," Faculty Series 16642, University of Georgia, Department of Agricultural and Applied Economics.

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