A Markov Chain Analysis of Structural Changes in TexasHigh Plains Cotton Ginning Industry

Date

1985-12

Authors

Myers, David M.
Roy, Sujit K.
Ethridge, Don E.

Journal Title

Journal ISSN

Volume Title

Publisher

Southern Agricultural Economics Association

Abstract

Markov chain analysis of changes in the number and size of cotton gin firms in West Texas was conducted assuming stationary and non-stationary transition probabilities. Projections of industry structure were made to 1999 with stationary probability assumptions and six sets of assumed conditions for labor and energy costs and technological change in the non-stationary transition model. Results indicate a continued decline in number of firms, but labor, energy, and technology conditions alter the configuration of the structural changes.

Description

Keywords

Markov chain, cotton ginning, industry structure

Citation

Ethridge, D., S. Roy, D. Myers. "A Markov Chain Analysis of Structural Changes in the Texas High Plains Cotton Ginning Industry." _Southern Journal of Agricultural Economics_ 17.2 (1985): 11-20.