Article
Crop yield responses to prices: a Bayesian approach to blend experimental and market data
European Review of Agricultural Economics
Document Type
Article
Disciplines
Publication Version
Accepted Manuscript
Publication Date
10-3-2018
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.
Copyright Owner
Oxford University Press and Foundation for the European Review of Agricultural Economics
Copyright Date
2018
Language
en
File Format
application/pdf
Citation Information
Francisco Rosas, 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) Available at: http://works.bepress.com/dermot_hayes/198/
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.