On the Economic Rationality of Market Participants: The Case of Expectations in the U.S. Pork Market
This study investigates the nature of price expectations in a competitive market. The approach is illustrated in an application to the U.S. pork market, which exhibits cyclical patterns and biological production lags. Pork price equations are estimated under different expectation regimes. The empiri...
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| Format: | Article |
| Language: | English |
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Western Agricultural Economics Association
1999-07-01
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| Series: | Journal of Agricultural and Resource Economics |
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| Online Access: | https://ageconsearch.umn.edu/record/30882 |