Competitive pricing and storage under uncertainty with an application to the U.S. soybean market
Relative to a no-storage regime, competitive storage of soybeans greatly reduces the variance of both annual prices and annual consumption. Variance of production is increased. Expected values of price, consumption, and production are not affected. The government could reduce price variance by about...
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| Veröffentlicht in: | American journal of agricultural economics 1984-05, Vol.66 (2), p.119-130 |
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| container_end_page | 130 |
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| container_title | American journal of agricultural economics |
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| creator | Helmberger, P.G Akinyosoye, V |
| description | Relative to a no-storage regime, competitive storage of soybeans greatly reduces the variance of both annual prices and annual consumption. Variance of production is increased. Expected values of price, consumption, and production are not affected. The government could reduce price variance by about 70 percent of its competitive level through subsidizing storage activity. The research procedure is based on a model of competitive storage under conditions of uncertainty and assuming rational expectations. Farm-level demand and supply functions are estimated. Simulation is used to generate large random samples of values for soybean prices, consumption, production, and year-end stocks. |
| doi_str_mv | 10.2307/1241029 |
| format | Article |
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Variance of production is increased. Expected values of price, consumption, and production are not affected. The government could reduce price variance by about 70 percent of its competitive level through subsidizing storage activity. The research procedure is based on a model of competitive storage under conditions of uncertainty and assuming rational expectations. Farm-level demand and supply functions are estimated. Simulation is used to generate large random samples of values for soybean prices, consumption, production, and year-end stocks.</description><subject>competitive storage</subject><subject>Consumer economics</subject><subject>Consumer prices</subject><subject>Consumer surplus</subject><subject>Cost efficiency</subject><subject>Expected values</subject><subject>Producer surplus</subject><subject>Skewed distribution</subject><subject>Soybeans</subject><subject>stabilization</subject><subject>Supply</subject><subject>Supply and demand</subject><issn>0002-9092</issn><issn>1467-8276</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>1984</creationdate><recordtype>article</recordtype><sourceid>K30</sourceid><recordid>eNp1kM1rGzEQxUVpoW5aei89CHroaV19rFbS0Zh8lUADicH0omq1s45cZ7WV5CT-76uwITkFxAjxfm9G8xD6TMmccSJ_UFZTwvQbNKN1IyvFZPMWzQghrNJEs_foQ0rb8iRUqxn6swy3I2Sf_R3gMXrnhw22Q4dTDtFuAO-HDmKpDmK2fsgHfO_zTUGwHceddzb7MOAccL4BvJpfzXEKhxaKfmvjX8gf0bve7hJ8erqP0Ork-Hp5Vl38Oj1fLi4qx6nSFW84EEp7QoSgIJxse8bbmmjleN07pwQo2wrZ9y10umms47xRUnSia7RzwI_Qt6nvGMO_PaRstmEfhzLSUKYbIWU5hfo-US6GlCL0puxcPnowlJjH-MxTfIUkE3nvd3B4DTOLn4vjF8vXybJ9DO_F8ixXk-xThodnuaRkGsmlMGfr32at6pNLcr02qvBfJr63wdhN9MmsrpRghDHK_wO7m5A6</recordid><startdate>198405</startdate><enddate>198405</enddate><creator>Helmberger, P.G</creator><creator>Akinyosoye, V</creator><general>Oxford University Press</general><general>American Agricultural Economics Association</general><general>American Farm Economic Association</general><scope>FBQ</scope><scope>BSCLL</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>FIXVA</scope><scope>GHEHK</scope><scope>IBDFT</scope><scope>K30</scope><scope>PAAUG</scope><scope>PAWHS</scope><scope>PAWZZ</scope><scope>PAXOH</scope><scope>PBHAV</scope><scope>PBQSW</scope><scope>PBYQZ</scope><scope>PCIWU</scope><scope>PCMID</scope><scope>PCZJX</scope><scope>PDGRG</scope><scope>PDWWI</scope><scope>PETMR</scope><scope>PFVGT</scope><scope>PGXDX</scope><scope>PIHIL</scope><scope>PISVA</scope><scope>PJCTQ</scope><scope>PJTMS</scope><scope>PLCHJ</scope><scope>PMHAD</scope><scope>PNQDJ</scope><scope>POUND</scope><scope>PPLAD</scope><scope>PQAPC</scope><scope>PQCAN</scope><scope>PQCMW</scope><scope>PQEME</scope><scope>PQHKH</scope><scope>PQMID</scope><scope>PQNCT</scope><scope>PQNET</scope><scope>PQSCT</scope><scope>PQSET</scope><scope>PSVJG</scope><scope>PVMQY</scope><scope>PZGFC</scope></search><sort><creationdate>198405</creationdate><title>Competitive pricing and storage under uncertainty with an application to the U.S. soybean market</title><author>Helmberger, P.G ; 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| fulltext | fulltext |
| identifier | ISSN: 0002-9092 |
| ispartof | American journal of agricultural economics, 1984-05, Vol.66 (2), p.119-130 |
| issn | 0002-9092 1467-8276 |
| language | eng |
| recordid | cdi_proquest_journals_1296577577 |
| source | EZB Free E-Journals; Business Source Complete; Periodicals Index Online; Oxford Journals A-Z Collection; JSTOR |
| subjects | competitive storage Consumer economics Consumer prices Consumer surplus Cost efficiency Expected values Producer surplus Skewed distribution Soybeans stabilization Supply Supply and demand |
| title | Competitive pricing and storage under uncertainty with an application to the U.S. soybean market |
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