Supply, Demand, and Technology in a Multiproduct Industry: Texas Field Crops
1983
Shumway, C Richard
Technology, supply, and demand relationships among six Texas field crops and three variable inputs are investigated using a dual approach. Evidence of nonjoint production is found for wheat but not for other crops. Cotton, sorghum, and corn are homothetically separable. No larger groups of outputs nor any input groups satisfy the sufficient dual conditions for consistent aggregation and two‐stage choice. Production is homothetic in outputs, fertilizer, and hired labor. Product supply and input demand equations are estimated. Estimates are inconsistent with expectations of the competitive model. The normalized profit function Hessian is not positive definite, and parameter symmetry is rejected.
اظهر المزيد [+] اقل [-]الكلمات المفتاحية الخاصة بالمكنز الزراعي (أجروفوك)
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