Premium
Aggregation of Price Risk over Commodities: An Economic Index Number Approach
Author(s) -
Coyle Barry T.
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.1467-8276.2007.01023.x
Subject(s) - superlative , index (typography) , economics , aggregate (composite) , price index , econometrics , price risk , industrial production index , production (economics) , microeconomics , financial economics , computer science , philosophy , linguistics , materials science , world wide web , composite material , futures contract
This article extends the economic theory of index numbers to the aggregation of price risk over commodities in production. Superlative indexes of aggregate price risk are related to Tornqvist and Fisher—type output quantity indexes. An application to major crops in Manitoba illustrates the empirical importance of the analysis.