Premium
An Empirical Analysis of Economic Performance under the Marketing Order for Raisins
Author(s) -
French Ben C.,
Nuckton Carole Frank
Publication year - 1991
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 - 10.2307/1242811
Subject(s) - order (exchange) , control (management) , economics , production (economics) , econometric model , relation (database) , welfare , marketing , econometrics , business , microeconomics , computer science , finance , management , market economy , database
This study utilizes a dynamic econometric model of the California raisin industry to compare predictions of prices, production, profits, and related measures under the volume control program with predictions under several no‐control scenarios. The outcomes are evaluated in relation to performance criteria proposed by a USDA study team. The twenty‐two‐year comparisons suggest that the public interest may have been well served by the raisin volume control program, or at worst there was no significant welfare loss.