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PRICE EXPECTATIONS FORMATION AND REVISION IN THE NERLOVIAN FRAMEWORK WITH APPLICATION TO NIGERIAN FARMERS
Author(s) -
Phillip Dayo O. A.,
Abalu George O. I.
Publication year - 1987
Publication title -
journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.157
H-Index - 61
eISSN - 1477-9552
pISSN - 0021-857X
DOI - 10.1111/j.1477-9552.1987.tb01068.x
Subject(s) - extension (predicate logic) , economics , econometrics , price setting , adaptive expectations , mathematical economics , mathematics , microeconomics , computer science , rational expectations , programming language
This paper examines the possibility of endogenising the adaptive price expectations coefficient. The basic structural model, tested with data on area planted to Groundnuts in Nigeria from 1956 to 1987, is formulated and estimated as an extension of the variational parameter hypothesis.