Disaggregated estimates of output supply and input demand elasticities
DOI:
https://doi.org/10.24201/ee.v10i1.270Keywords:
Texas, United States, agricultureAbstract
Designed for consistency with competitive theory, non-rejected simplifying assumptions and multi-stage choice, aggregate dual models are specified of Texas agricultural production. Disaggregated own- and cross-price elasticities are derived for 25 commodity supplies and six input demands. Estimated supplies and demands are largely inelastic. Outputs are mainly economic substitutes and inputs are economic complements.