EconPapers    
Economics at your fingertips  
 

PROFIT MAXIMIZATION AS A MANAGEMENT GOAL ON SOUTHEASTERN MONTANA RANCHES

Basudeb Biswas (), John R. Lacey, John P. Workman and Francis H. Siddoway

Western Journal of Agricultural Economics, 1984, vol. 09, issue 01, 9

Abstract: While tests of producer rationality defined as conformity to the rules of profit maximization (or a similar postulate) for less developed countries are numerous, such tests for high-income countries are rare. This study investigates the extent of rationality observed in the production behavior of ranchers in southeastern Montana. The procedure used is that of Wise, Yotopoulos, and Nugent, based on a profit-maximizing production model. The data were collected by personal interviews for 69 ranchers. Results indicate that profit maximization is a reasonably good postulate for studying the behavior of ranchers, and that various policy measures, could, at least tentatively, proceed on that basis.

Keywords: Farm; Management (search for similar items in EconPapers)
Date: 1984
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://ageconsearch.umn.edu/record/32365/files/09010186.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:wjagec:32365

DOI: 10.22004/ag.econ.32365

Access Statistics for this article

More articles in Western Journal of Agricultural Economics from Western Agricultural Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().

 
Page updated 2025-03-19
Handle: RePEc:ags:wjagec:32365