A Cost Function Analysis of Wheat Production in India

Satya Paul

European Review of Agricultural Economics, 1987, vol. 14, issue 2, 221-38

Abstract: Two types of cost functions that capture the heterogeneity of farms are estimated for the mechanized and the nonmechanized farm groups of farmers in India, representative for "developed," "semi-developed," and "underdeveloped" regions in India. In one type of cost function, the scale elasticity varies stochastically with output; in the other, it varies only randomly across sample farms. Based on the estimates of scale elasticity, the sample farms are classified into the categories of "optimal" and "sub-optimal" farms. Lastly, the problem of fixing support/procurement prices on the basis of average cost of production is briefly discussed. Copyright 1987 by Oxford University Press.

Date: 1987
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