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A three-step econometric modeling process incorporating lag lengths, causality, and asymmetric relationships was employed to evaluate the Red Delicious apple market. Results suggest that price responses in the Western, North Central, and Northeastern regions are asymmetric, do not occur immediately, and are not centered at the wholesale market level. Shipping point prices are symmetric in response to changes in wholesale and retail market prices. However, wholesale prices in each region react asymmetrically to changes in the shipping point price and/or the region's retail price. North Central consumers see retail prices change more in response to increases in shipping point prices than decreases.
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Willett et al. (1997) studied this question.
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