Name: Market Interrelationships and Applied Demand Analysis: Bridging the Gap Between Theory and Empirics in Commodities Markets
Brand: Macmillan
SKU: 9783030731434
Price: 4561.0 INR
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Market Interrelationships and Applied Demand Analysis: Bridging the Gap Between Theory and Empirics in Commodities Markets

by Wohlgenant , Michael K.

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ISBN13: 9783030731434
Binding: Paperback
Subject: Business Management
Publisher: Macmillan
Publisher Imprint: Palgr Mac
Publication Date: January 1, 2021
Pages: 230
Original Price: EUR 64.99
Language: English
Edition: N/A
Item Weight: 354 grams
BISAC Subject(s): Industries / Agribusiness, Industrial Management, and Economics / Theory

About The Book

From the Back Cover
This textbook addresses the core issues facing economists concerning price determination in commodity markets, especially food and agricultural commodities. This book hones in on the conceptual basis of the various relationships, with special emphasis on market interrelationships, both horizontally and vertically. This book covers key concepts such as consumer demand theory; quality, heterogeneous goods, and cross section demand; derived demand, marketing margins, and relationship between output and raw material prices; retail-to-farm demand linkages, imperfect competition, and short-run price determination; dynamic consumer demand; and dynamic models of the firm.
What makes this textbook of particular use to students is its focus on bridging the gap between theory and empirical analysis. Going from theory to empirics requires that we have data--time series or cross section--that match the theoretical constructs. Often the data match is not perfect, either by definition or how the data are computed. In addition to problems of matching data with theoretical constructs, students and researchers need to know how to specify, estimate, and interpret results within the context of imperfect and often incomplete data. This textbook uses several data sets to illustrate how one might address problems in real-world settings. Furthermore, with exercises at the end of each chapter, students are able to test themselves on their ability to bring theory to life.
Michael K. Wohlgenant is the William Neals Reynolds Distinguished Professor Emeritus at North Carolina State University, USA.

About The Author

Michael K. Wohlgenant is the William Neals Reynolds Distinguished Professor Emeritus at North Carolina State University, USA.

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