Do New York Dairy Farmers Maximize Profits?

Loren W. Tauer

No 121318, Staff Papers from Cornell University, Department of Applied Economics and Management

Abstract: Varian's Weak Axiom of Profit Maximization was used to determine whether each of 49 New York dairy farms displayed behavior consistent with profit maximization. The results indicate that most were only moderately successful in maximizing profits. Characteristics of the farms did not strongly differentiate those that were better at maximizing profits.

Keywords: Agribusiness; Livestock Production/Industries (search for similar items in EconPapers)
Pages: 17
Date: 1994-05
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:cudasp:121318

DOI: 10.22004/ag.econ.121318

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