U.S. Milk Markets Under Alternative Federal Order Pricing Policies

The paper considers an industry transforming primary commodities (furm products) into processed cornmodities (food products), Il focuses on the allocation of ernbedded churacteristics (carbohydratc, protein, ctc.) both across space and among commodities. The approach generates a spatial competitive market equilibrium of production. consumption, transformation, and trade for both primary and processed comrnodities, along with the spatial distribution of shadow priees for the product characteristics, The model provides a basis for analyzing the allocation and pricing of agricultural products, food products, and charucteristics in spatial markets. The empirical usefulness of the model is illustrated in the contcxt of regional resource allocation in the V.S. dairy scctor, lô 1998 Elsevier Science B.v.0169-5150/98/$17.00 © 1998 Elsevier Science fi V. Ali rights rcscrved, l'II SO 169-5150(97 )00030-3 .1.

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Spatial allocation and the shadow pricing of product characteristics

Chavas

Cox

Jesse

1998

Agricultural Economics

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U.S. Milk Markets Under Alternative Federal Order Pricing Policies

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Spatial allocation and the shadow pricing of product characteristics

Spatial allocation and the shadow pricing of product characteristics

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