Modeling Supply Response in a Multiproduct Framework

V. Eldon Ball

American Journal of Agricultural Economics, 1988, vol. 70, issue 4, 813-825

Abstract: The paper models multiproduct supply response in agriculture and tests key assumptions traditionally maintained in supply response studies. The technology is approximated by a restricted profit function. The properties of the restricted profit function are imposed during estimation. The hypothesis that maintains the existence of output price and quantity indexes that satisfy the adding-up property is rejected. The existence of individual production functions for each output is also rejected. Unless joint production is permitted, the estimates of responsiveness of a particular commodity to changes in own price or prices of competing outputs are likely to be considerably understated.

Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:70:y:1988:i:4:p:813-825.

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