Economics, Econometrics and Finance
8 years ago

New Study Reveals U.S. Cotton Exports Face Elastic Demand

American Journal of Agricultural Economics
The Elasticity of Export Demand for U.S. Cotton
Patricia A. Duffy, Michael K. Wohlgenant, James W. Richardson

Paper Summary

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The researchers studied how the demand for U.S. cotton exports changes with price. They found that the demand for U.S. cotton from other countries is likely to change when the price changes, but not by a lot. The demand is more flexible when looking only at direct effects, without considering how other countries' prices affect it.