Profit maximization-does it matter?

Katherine D. Young, C. Shumway and H. L. Goodwin
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Katherine D. Young: Clemson University (formerly a research assistant in agricultural economics, Texas A&M University), Postal: Clemson University (formerly a research assistant in agricultural economics, Texas A&M University)
H. L. Goodwin: Agricultural Economics, Texas A&M University, Postal: Agricultural Economics, Texas A&M University

Agribusiness, 1990, vol. 6, issue 3, 237-253

Abstract: Comparative hypotheses are statistically tested for a random sample of Texas producers who perceive themselves as profit maximizers and those who do not. Those who assert that they are in the cow-calf business primarily to maximize profits have on average larger herd sizes and acreage, they earn a greater percent of their total net income from farming and ranching, and they place more emphasis on supportive economic motivations and less on social reasons for owning cattle. Off-farm employment status and the qualitative response to changes in price expectations are not unambiguously related to perceived motivations.

Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:wly:agribz:v:6:y:1990:i:3:p:237-253

DOI: 10.1002/1520-6297(199005)6:3<237::AID-AGR2720060306>3.0.CO;2-Q

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