A Hedonic Price Model for Rough Rice Bid/Acceptance Markets
评估了联邦等级在解释糙米质量差异中的作用，估算了各质量因素的折价，并研究了影响竞价接受的因素。结果表明等级有用但不足，主要价格决定因素是出米率，臭虫损害是生产者可控的最重要质量因素。
Abstract Several quality factors are important in valuing rough rice. This paper first evaluates the ability of federal grades to explain these factors. Second, the discounts associated with various quality factors are estimated. Finally, the factors affecting acceptance of a bid are investigated. The results indicate grades are useful but inadequate in explaining observed quality differentials. The major quality factor in determining price was head yield. Stinkbug damage was the most important quality factor of those that producers could control. The probability of acceptance increased with higher than expected bids, smaller lot sizes, more bidders, and as the marketing season progressed.