Input Demand and Output Supply on Irish Farms--A Micro-economic Approach

James Higgins

European Review of Agricultural Economics, 1986, vol. 13, issue 4, 477-93

Abstract: In this paper a profit-function approach is used to derive a set of input-demand and output-supply equations, the parameters of which are used to estimate a set of own and cross price elasticities of demand and supply. Both compensated and uncompensated elasticity estimates are presented. The methodology used permitted the testing of some of the assumptions of the neoclassical th eory of the firm. The data used are from a cross section of farms. While the empirical results did not meet some of the requirements of profit maximization, the methodology proved useful in describing the interrelationships between outputs and inputs. Copyright 1986 by Oxford University Press.

Date: 1986
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European Review of Agricultural Economics is currently edited by Timothy Richards, Salvatore Di Falco, Céline Nauges and Vincenzina Caputo

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