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Acreage stability and resource allocation before and after the implementation of a marketing order
Author(s) -
Kilmer Richard L.,
Taylor Timothy G.
Publication year - 1992
Publication title -
agribusiness
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.57
H-Index - 43
eISSN - 1520-6297
pISSN - 0742-4477
DOI - 10.1002/1520-6297(199211)8:6<507::aid-agr2720080603>3.0.co;2-k
Subject(s) - order (exchange) , resource allocation , economics , resource (disambiguation) , stability (learning theory) , marketing , agricultural economics , business , computer science , market economy , computer network , finance , machine learning
Acreage stability and resource allocation are evaluated in the Florida celery market before and after the installment of a marketing order. Prior to the marketing order, producers placed emphasis on the lagged ratio of the fresh vegetable price index and the Florida celery price, lagged California quantity, and lagged Florida celery acreage to determine acreage planted. With the marketing order, the price ratio had less impact. Marketing orders may modify and possibly eliminate the cobweb cycle. Thus, a marketing order may improve the acreage stability and allocation of resources in a market. © 1992 John Wiley & Sons, Inc.