A Nonlinear Model Of Information And Coordination In Hog Production: Testing The Coasian-Fowlerian Dynamic Hypotheses

The pig-cycle 'explanation' expunded by Coase and Fowler followed a well-integrated economic logic and provides tremendous insight into our understanding of commodity cycles. The paper presents a simulation model that replicates all of Coase and Fowler's results and tests its robustness with an application to U.S. hog production.

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