Modelling Sorghum Supply and Pricing: Choosing An Appropriate Modelling Mechanism

Abstract

An attempt was made in this study to estimate the partial adjustment-adaptive expectation complex when the model is applied to sorghum supply and pricing in Nigeria. It was found that there was no any globalisation in the application of the final equation. It was also found that while there seems to be a comfortable margin to globalise expected price, the planned acreage showed a lot of sensitivity with the transformation of the adjustment coefficients. Therefore, a choice has to be made each time on the most appropriate model that estimates the variable under study.

Publication
Nigerian Journal of Rural Economy and Society 2(1):1-6
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Job Nmadu
Professor of Agricultural Economics and Dean, School of Agriculture and Agricultural Technology

Research interests are economic efficiencies of small scale farming and welfare effects of agricultural interventions.

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