Beef Supply Response Under Uncertainty

An Autoregressive Distributed Lag Model

Msafiri Mbaga, Barry T. Coyle

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

This is the first econometric study of dynamic beef supply response to incorporate risk aversion or, more specifically, price variance. Autoregressive distributed lag (ADL) models are estimated for cow-calf and feedlot operations using aggregate data for Alberta. In all cases, output price variance has a negative impact on output supply and investment. Moreover, the impacts of expected price on supply response are greater in magnitude and significance than in risk-neutral models.

Original languageEnglish
Pages (from-to)519-539
Number of pages21
JournalJournal of Agricultural and Resource Economics
Volume28
Issue number3
Publication statusPublished - Dec 2003

Fingerprint

beef
uncertainty
econometrics
feedlots
Alberta
calves
cows
Uncertainty
Beef
Supply response
Autoregressive distributed lag model
Risk aversion
Calves
Aggregate data
Econometrics

Keywords

  • Autoregressive distributed lag model
  • Beef supply response
  • Dynamics
  • Uncertainty

ASJC Scopus subject areas

  • Animal Science and Zoology
  • Agronomy and Crop Science
  • Economics and Econometrics

Cite this

Beef Supply Response Under Uncertainty : An Autoregressive Distributed Lag Model. / Mbaga, Msafiri; Coyle, Barry T.

In: Journal of Agricultural and Resource Economics, Vol. 28, No. 3, 12.2003, p. 519-539.

Research output: Contribution to journalArticle

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