STATE-LEVEL NONPARAMETRIC TESTS OF PROFIT MAXIMIZATION

Hongil Lim and C. Shumway

No 270494, 1989 Annual Meeting, July 30-August 2, Baton Rouge, Louisiana from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: A nonparametric analysis of agricultural production behavior was conducted for each of the contiguous 48 states to test· the joint hypothesis of profit maximization, convex technology, and nonregressive technical change. With minor to modest measurement error, the results are consistent with the joint hypothesis. They further document the importance· of considering geographic variability in agriculture production behavior when modeling production relationships or government policies affecting production at the regional or national level.

Keywords: Agricultural and Food Policy; Agricultural Finance (search for similar items in EconPapers)
Pages: 15
Date: 1989-07-30
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea89:270494

DOI: 10.22004/ag.econ.270494

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