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Supply Response in the Northeastern Fresh Tomato Market

Published online by Cambridge University Press:  10 May 2017

Rigoberto A. Lopez
Affiliation:
Department of Agricultural Economics and Marketing, Cook College, Rutgers University, New Brunswick, New Jersey 08903
Arnold O. Munoz
Affiliation:
Department of Agricultural Economics and Marketing, Cook College, Rutgers University, New Brunswick, New Jersey 08903
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Abstract

This paper examines the forces that affected the Northeastern fresh tomato supply in the post-WWII period. A simultaneous equation model is developed which incorporates a composite price expectation model, supply response, and factors affecting regional price. Findings reveal that data are consistent with the Rational Expectation Hypothesis. Urban pressure played a major role in shifting supply response while shipments from competing areas had a modest impact on regional production or price. The positive elasticity of producers' revenue with respect to local production highlights the aggregate benefits of increasing yields.

Type
Research Article
Copyright
Copyright © 1987 Northeastern Agricultural and Resource Economics Association 

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