End-Use Performance Uncertainty and Competition in International Wheat Markets

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Abstract
The input characteristic model (ICM) is expanded in this paper to account for technical coefficient uncertainty. The model is used to analyze effects of price and quality on competition in the U.K. wheat import market. Results are used to identify critical quality characteristics and impacts of technical coefficient uncertainty on import demand. The expected values for most characteristics of U.S. wheat have greater variances than those of Canadian wheat. Results show that both the characteristic's level and variance are important in determining import market shares. (This abstract was borrowed from another version of this item.)
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