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Published in:
2011 | OriginalPaper | Chapter
A Multivariate Mathematical Model to Analyze the Market Prices Correlation at Regional Level
Authors : Andreea Iluzia Iacob, Costin-Ciprian Popescu
Published in: Digital Enterprise and Information Systems
Publisher: Springer Berlin Heidelberg
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In this work is presented the total least squares algorithm and its application in the economic field, whose calculation can be performed using certain software packages. This approach can be also used to analyze the dependence between various economic indicators, especially for the situation in which the direction of the causality between the model variables is unknown. The model is employed for studying the relation between wheat market prices for three Romanian historical regions, which are some of the most important cereal producers for Romania. The final result consists in a unified formula, which provides a global pattern of the national wheat market as a whole.