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image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao American Journal of ...arrow_drop_down
image/svg+xml Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao Closed Access logo, derived from PLoS Open Access logo. This version with transparent background. http://commons.wikimedia.org/wiki/File:Closed_Access_logo_transparent.svg Jakob Voss, based on art designer at PLoS, modified by Wikipedia users Nina and Beao
American Journal of Agricultural Economics
Article . 1977 . Peer-reviewed
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Prices and Demands for Input Characteristics: Reply

Authors: George W. Ladd;

Prices and Demands for Input Characteristics: Reply

Abstract

This reply covers four topics: (a) a brief comparison of the Westgren and Schrader (WS) and the Ladd and Martin (LM) formulations of blending processes in multiproduct plants, (b) a brief comparison of objective functions in the two models, (c) derivation of shadow prices of characteristics from the WS model, and (d) reevaluation of evidence on sign-optimality of the present corn-grading system. The statement of blending processes in the WS formulation of the second blending problem is clearly superior to the formulation in the LM paper. However, the LM model maximizes net revenue. WS maximize gross revenue. For reasons presented later, I believe that maximization of net revenue is more appropriate. The rest of this reply deals with a WS model in which the objective function has been changed to net revenue and which is referred to as the "revised WS model." The shadow prices for corn yielded by the revised WS model can be used to determine if a

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
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popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
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