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An Automated Econometric Approach for Estimating and Reporting Daily Cotton Market Prices

Published online by Cambridge University Press:  28 April 2015

Jeff E. Brown ,
Don E. Ethridge ,
Darren Hudson  and
Carlos Engels
Jeff E. Brown
Affiliation:
Department of Agricultural Economics, Texas Tech University
Don E. Ethridge
Affiliation:
Department of Agricultural Economics, Texas Tech University
Darren Hudson
Affiliation:
Department of Agricultural Economics, Texas Tech University
Carlos Engels
Affiliation:
Department of Agricultural Economics, Texas Tech University
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Abstract

An automated price reporting system developed through computer technology and hedonic price theory is used to estimate daily cotton market prices, premiums, and discounts. This objective approach for reporting cotton market prices was developed to complement the objective measures of high volume instrument grading of cotton. The computerized, econometric system is limited to the Texas and Oklahoma marketing regions where sales are readily available from electronic markets. The econometric based system has shown all the characteristics of an efficient price reporting system; it is accurate, reliable, consistent, and repeatable in its working process and price estimates.

Keywords

computer automationcotton marketingeconometricshedonic price analysisprice reporting
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 27 , Issue 2 , December 1995 , pp. 409 - 422
Copyright
Copyright © Southern Agricultural Economics Association 1995

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