Campus Units

Economics

Document Type

Article

Publication Version

Accepted Manuscript

Publication Date

10-3-2018

Journal or Book Title

European Review of Agricultural Economics

DOI

10.1093/erae/jby032

Abstract

We estimate yield-price elasticities by blending information from market-based datasets with experimental production data using a Bayesian procedure. Yield-price elasticities are dictated by features of the underlying production technology; therefore, data on crop response to relevant inputs provide extra information about parameters of interest. Bayesian econometrics allows for the joint and simultaneous estimation of all model parameters. The procedure is advocated in situations where field trail or experimental data are available to provide additional information helping recovering production technology parameters with higher precision.

JEL Classification

C11, D22, Q12

Comments

This is a manuscript of an article published as Rosas, Francisco, Sergio H. Lence, and Dermot J. Hayes. "Crop yield responses to prices: a Bayesian approach to blend experimental and market data." European Review of Agricultural Economics (2018). doi: 10.1093/erae/jby032. Posted with permission.

Copyright Owner

Oxford University Press and Foundation for the European Review of Agricultural Economics

Language

en

File Format

application/pdf

Available for download on Saturday, October 03, 2020

Published Version

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