AN EXAMINATION OF THE EMPIRICAL PROPERTIES OF DUALITY BETWEEN THE RESTRICTED PROFIT, UNRESTRICTED PROFIT, AND PRODUCTION FUNCTIONS
Jayson Lusk (),
Abdullahi Abdulkadri and
Allen Featherstone ()
No 21718, 1999 Annual meeting, August 8-11, Nashville, TN from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
This research examines the empirical properties of duality theory. A comparison of the Hessian matrices calculated from the normalized unrestricted and restricted profit, and production functions indicate that duality is highly sensitive to measurement error and relative price variability.
Keywords: duality; restricted and unrestricted profit functions; Demand and Price Analysis; Production Economics (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea99:21718
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