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.