Supply and Demand Functions for Multi-Product U.S. Cash Grain Farms: Biases Caused by Research and Other Policies, 1948-1974

Wallace Huffman and Robert E. Evenson

ISU General Staff Papers from Iowa State University, Department of Economics

Abstract: Duality theory and static multi-product technology have been applied to ' * I investigate the structure of agricultural technology (e.g.. Weaver; Shuinway; ' McKay et al.). Ttiese studies have provided econometric evidence of the jointness of agricultural technology and new measures of output supply and input demand elasticities. Although these studies have not emphasized the biases in farmers' choices caused by public policies, the multi-product framework, pro vides a rich methodology for exploring them. The multi-product framework can provide a more complete picture of adjustments to policy than the single output technology employed by, for example, Antle; Binswanger; Lopez; Houch and Ryan, Houch and Subotnik; and Nerlove. Furthermore, we can do better Chan indexing technology with time (see Weaver; Shumway; McKay et al.; Antle).

Date: 1986-04-01
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