A Duality Approach to Testing the Economic Behaviour of Dairy-Marketing Co-operatives: The Case of Ireland



Table 2: Coefficient Estimates of Virtual Profit Maximising Behaviour

Variable

Coefficient

Standard
Error

Coefficient

Standard Error

System 15(a)-15(d)

System 15(a)-15(d), 16

Intercept_____________

4.5733

0.6624

6.3249

1.5093

Jh_____________

1.5721

0.2437

1.1230

0.3526

_________________

-0.1541

0.0351

-0.0917

0.0389

_t_______________________

0.1811

0.0530

0.0446

0.1063

m___________

1.3493

0.1376

8.5428

2.2910

к________________

-0.8096

0.6020

-2.6511

0.8896

Pv* Pv_________________

-0.0614

0.1076

-0.0051

0.1170

Wι*wt______________

-0.0905

0.0128

-0.0861

0.0113

t*t______________________

-0.0071

0.0022

-0.0019

0.0040

m*m___________

0.2188

0.1084

7.1624

2.2455

k*k______________

-0.1777

0.3558

-0.6801

0.4810

Pv*wt_______________

0.1773

0.0099

0.1768

0.0086

Pv*t___________________

0.0055

0.0111

0.0240

0.0150

Pv*m______________

-0.3594

0.0661

-0.7384

0.2947

Pv*k________________

0.2913

0.1250

0.2885

0.1318

w1*t________________

0.0013

0.0014

-0.0013

0.0016

wt*m____________

0.1264

0.0144

0.1713

0.0295

w1*k______________

-0.0539

0.0106

-0.0521

0.0114

t*m_______________

-0.0206

0.0059

-0.3016

0.0972

t*k_________________

0.0302

0.0271

0.1223

0.0426

m*k____________

0.0514

0.0660

-0.6090

0.5672

ι_____________________________________

0.5558

0.0942

0.7203

0.0963

2______________________________

0.5002

0.0919

0.5913

0.0932

3______________________________

0.3212

0.0987

0.4283

0.0985

4______________________________

0.6677

0.1273

0.6902

0.1604

Intercept (Eqt. (16))

0.7111

0.2154

Py

-0.2654

0.0697

-0.1392

0.0873

t

0.0039

0.0085

m

0.0249

0.1172

^k

0.0267

0.0642

Log -Likelihood_____

______________279.37______________

_______________286.855_______________

Key: py= price of processed output; wɪ = is the wage rate; t = time trend; m = volume of milk raw material; к =
capital stock; ɪ - 4 are the estimated first-order autocorrelation coefficients for the equations estimated. (Note: the
numeraire in the imposition of zero Iiomgeneity was the price of non-milk materials.)

15



More intriguing information

1. Trade Openness and Volatility
2. IMPACTS OF EPA DAIRY WASTE REGULATIONS ON FARM PROFITABILITY
3. AJAE Appendix: Willingness to Pay Versus Expected Consumption Value in Vickrey Auctions for New Experience Goods
4. The name is absent
5. The name is absent
6. The Impact of Individual Investment Behavior for Retirement Welfare: Evidence from the United States and Germany
7. The name is absent
8. The Veblen-Gerschenkron Effect of FDI in Mezzogiorno and East Germany
9. The name is absent
10. The name is absent
11. Clinical Teaching and OSCE in Pediatrics
12. Tax Increment Financing for Optimal Open Space Preservation: an Economic Inquiry
13. European Integration: Some stylised facts
14. Pass-through of external shocks along the pricing chain: A panel estimation approach for the euro area
15. Why unwinding preferences is not the same as liberalisation: the case of sugar
16. Needing to be ‘in the know’: strategies of subordination used by 10-11 year old school boys
17. The name is absent
18. The name is absent
19. The name is absent
20. On Dictatorship, Economic Development and Stability