Testing the rational expectations hypothesis using survey data from vegetable growers in the USA
Abstract
Survey data on expected and actual prices received by individual vegetable growers in Florida, Michigan and Texas in 1990 are used to test the rational expectations hypothesis. The use of individual grower data overcomes many of the issues that have limited previous tests of this hypothesis in agriculture. Overall, finds that price expectations of vegetable growers are inconsistent with the rational expectations hypothesis for the majority of vegetable/state combinations studied.
Keywords
Citation
Beach, E.D., Fernandez‐Cornej, J. and Uri, N.D. (1995), "Testing the rational expectations hypothesis using survey data from vegetable growers in the USA", Journal of Economic Studies, Vol. 22 No. 6, pp. 46-59. https://doi.org/10.1108/01443589510099048
Publisher
:MCB UP Ltd
Copyright © 1995, MCB UP Limited