Evaluation of Federal Marketing Orders for Fruits And Vegetables Using Time Varying Parameters
Evaluation of Federal Marketing Orders for Fruits And Vegetables Using Time Varying Parameters
Smith, Ernest Binford
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The five following categories, plus a closing overview section, provide the organizational structure for this chapter: (1) Oranges and Grapefruit, (2) Lemons and Limes, (3) Potatoes, (4) Marketing Order Vegetables, and (5) Non-Marketing Order Vegetables. Variables considered and methods of incorporating order committee and Crop Reporting Board differences vary between categories and in some cases within categories. Thus, in each category variables and methods are described, estimated OLS and TV...P parameters are presented, and commentary provided. The pretest bias resulting from the minimum mean squared error selection criterion is recognized and, although t-values are presented, parameter estimates are not evaluated with respect to significance levels. In the categorical discussions with respect to flexibilities, the random parameter estimates, i.e., those where gamma is zero, are not explicitly considered. Although differences exist between the random parameter estimates and the constant parameter estimates, the inferred flexibilities change only in degree and not in type, i.e., flexible versus inflexible.
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