Characteristic Supplies and Demands in a Hedonic Framework: U.S. Market for Cotton Fiber Attributes
通过两阶段享乐价格模型，估计了美国棉花纤维属性的价值，并分析了特征供给与需求如何随区域和时间变化，对农业经济学家和商品市场研究者有参考价值。
Abstract Hedonic price analysis has frequently been used to determine agricultural commodity characteristics' values. While hedonic price theory consists of a two‐stage process, second‐stage commodity characteristics' equations have not been successfully estimated until now. The estimated system consisted of 11 first‐stage equations to determine cotton characteristics' values. The second stage consisted of 24 characteristic demand and 20 characteristic supply equations to model the underlying characteristic market structure. Cotton characteristic values were shown to vary across regions and over time as characteristic supplies and demands varied.