An Econometric Approach for Estimating Daily Market Prices
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Procedures for hedonic model determinations of market prices, premiums, and discounts for cotton fiber attributes have been developed for daily market price reporting. Model results for t~e two Texas-Oklahoma price reporting regions are described and presented and compared to the current Daily spot Cotton Quotations. Evidence to date indicates that both the model and the quotations accurately track market prices in the two markets the model provides a more detailed set of quality premiums and discounts and avoids a systematic bias which occurs in the Quotations. Plans for further research are described.