Aggregation of Price Risk over Commodities: An Economic Index Number Approach |
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| Authors: | Barry T Coyle |
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| Institution: | Barry Coyle is associate professor, Department of Agribusiness and Agricultural Economics, University of Manitoba, Canada. |
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| Abstract: | This article extends the economic theory of index numbers to the aggregation of price risk over commodities in production. Superlative indexes of aggregate price risk are related to Tornqvist and Fisher−type output quantity indexes. An application to major crops in Manitoba illustrates the empirical importance of the analysis. |
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| Keywords: | aggregation index numbers price risk production |
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