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Recovering the Shadow Value of Nutrients
Author(s) -
Beatty Timothy K.M.
Publication year - 2007
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.1111/j.1467-8276.2007.00962.x
Subject(s) - shadow (psychology) , shadow price , nutrient , value (mathematics) , economics , econometrics , entropy (arrow of time) , environmental science , unit (ring theory) , mathematics , statistics , ecology , thermodynamics , mathematical optimization , physics , biology , psychology , mathematics education , psychotherapist
This article investigates the shadow values of twenty‐eight different nutrients. It links the unit price of foods to the shadow values of nutrients by building on a utility theoretic model first proposed by Gorman. Maximum entropy principles are then used to reason consistently about the values of the parameters of interest. The resulting estimates are discussed and analyzed.