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Supply Response and the Theory of Production and Profit Functions

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  • Wall, Charles A.
  • Fisher, Brian S.
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    File URL: http://purl.umn.edu/12271
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    Bibliographic Info

    Article provided by Australian Agricultural and Resource Economics Society in its journal Review of Marketing and Agricultural Economics.

    Volume (Year): 56 (1988)
    Issue (Month): 03 (December)
    Pages:

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    Handle: RePEc:ags:remaae:12271

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    Keywords: Demand and Price Analysis;

    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. S. Pandey & Roley R. Piggott & T. Gordon MacAulay, 1982. "The Elasticity Of Aggregate Australian Agricultural Supply: Estimates And Policy Implications," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 26(3), pages 202-219, December.
    2. Epstein, Larry G. & Yatchew, Adonis J., 1985. "The empirical determination of technology and expectations : A simplified procedure," Journal of Econometrics, Elsevier, vol. 27(2), pages 235-258, February.
    3. William E. Griffiths & Jock R. Anderson, 1978. "Specification Of Agricultural Supply Functions — Empirical Evidence On Wheat In Southern N.S.W," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 22(2-3), pages 115-128, 08-12.
    4. Prucha, Ingmar R. & Nadiri, M. Ishaq, 1986. "A comparison of alternative methods for the estimation of dynamic factor demand models under non-static expectations," Journal of Econometrics, Elsevier, vol. 33(1-2), pages 187-211.
    5. Diewert, W. E., 1973. "Functional forms for profit and transformation functions," Journal of Economic Theory, Elsevier, vol. 6(3), pages 284-316, June.
    6. Kym Anderson, 1974. "Distributed Lags And Barley Acreage Response Analysis," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 18(2), pages 119-132, 08.
    7. Rulon D. Pope & Richard E. Just, 1977. "On The Competitive Firm Under Production Uncertainty," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 21(2), pages 111-118, 08.
    8. Eckstein, Zvi, 1984. "A Rational Expectations Model of Agricultural Supply," Journal of Political Economy, University of Chicago Press, vol. 92(1), pages 1-19, February.
    9. Brennan, John P., 1982. "The Representation Of Risk In Econometric Models Of Supply: Some Observations," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 26(02), August.
    10. Just, Richard E. & Pope, Rulon D., 1978. "Stochastic specification of production functions and economic implications," Journal of Econometrics, Elsevier, vol. 7(1), pages 67-86, February.
    11. Jock R. Anderson & William E. Griffiths, 1982. "Production Risk And Efficient Allocation Of Resources," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 26(3), pages 226-232, December.
    12. Antle, John M., 1986. "Aggregation, expectations, and the explanation of technological change," Journal of Econometrics, Elsevier, vol. 33(1-2), pages 213-236.
    13. Hanoch, Giora, 1975. "The Elasticity of Scale and the Shape of Average Costs," American Economic Review, American Economic Association, vol. 65(3), pages 492-97, June.
    14. Hall, Robert E, 1973. "The Specification of Technology with Several Kinds of Output," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 878-92, July-Aug..
    15. Duncan, Ronald C., 1972. "Technological Change In The Arid Zone Of New South Wales," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 16(01), April.
    16. Berndt, Ernst R & Christensen, Laurits R, 1973. "The Internal Structure of Functional Relationships: Separability, Substitution and Aggregation," Review of Economic Studies, Wiley Blackwell, vol. 40(3), pages 403-10, July.
    17. Chambers, Robert G, 1983. "Scale and Productivity Measurement under Risk," American Economic Review, American Economic Association, vol. 73(4), pages 802-05, September.
    18. Chetty, V. K. & Heckman, J. J., 1986. "A dynamic model of aggregate output supply, factor demand and entry and exit for a competitive industry with heterogeneous plants," Journal of Econometrics, Elsevier, vol. 33(1-2), pages 237-262.
    19. McFadden, Daniel, 1978. "Cost, Revenue, and Profit Functions," Histoy of Economic Thought Chapters, in: Fuss, Melvyn & McFadden, Daniel (ed.), Production Economics: A Dual Approach to Theory and Applications, volume 1, chapter 1 McMaster University Archive for the History of Economic Thought.
    20. Quiggin, John & Horowitz, John, 1995. "Time and Risk," Journal of Risk and Uncertainty, Springer, vol. 10(1), pages 37-55, January.
    21. Pindyck, Robert S, 1982. "Adjustment Costs, Uncertainty, and the Behavior of the Firm," American Economic Review, American Economic Association, vol. 72(3), pages 415-27, June.
    22. Askari, Hossein & Cummings, John Thomas, 1977. "Estimating Agricultural Supply Response with the Nerlove Model: A Survey," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 18(2), pages 257-92, June.
    23. Hartman, Richard, 1975. "Competitive Firm and the Theory of Input Demand under Price Uncertainty: Comment," Journal of Political Economy, University of Chicago Press, vol. 83(6), pages 1289-90, December.
    24. Easter, Christopher D. & Paris, Quirino, 1983. "Supply Response With Stochastic Technology And Prices In Australia'S Rural Export Industries," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 27(01), April.
    25. Fisher, Brian S., 1975. "Supply Response In The Wheat-Belt Of South-Eastern Australia: The Impact Of Delivery Quotas On Wheat Plantings," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 19(02), August.
    26. Pandey, Sushil & Piggott, Roley R. & MacAulay, T. Gordon, 1982. "The Elasticity Of Aggregate Australian Agricultural Supply: Estimates And Policy Implications," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 26(03), December.
    27. Pindyck, Robert S & Rotemberg, Julio J, 1983. "Dynamic Factor Demands and the Effects of Energy Price Shocks," American Economic Review, American Economic Association, vol. 73(5), pages 1066-79, December.
    28. Blackorby, Charles & Russell, R Robert, 1976. "Functional Structure and the Allen Partial Elasticities of Substitution: An Application of Duality Theory," Review of Economic Studies, Wiley Blackwell, vol. 43(2), pages 285-91, June.
    29. Hoel, Michael & Vislie, Jon, 1983. " Supply Functions for Outputs and Demand Functions for Inputs in the Short and Long Run under Uncertainty," Scandinavian Journal of Economics, Wiley Blackwell, vol. 85(1), pages 53-60.
    30. Blackorby, Charles & Schworm, William, 1982. "Aggregate Investment and Consistent Intertemporal Technologies," Review of Economic Studies, Wiley Blackwell, vol. 49(4), pages 595-614, October.
    31. Anderson, Jock R. & Griffiths, William E., 1981. "Production Risk And Input Use: Pastoral Zone Of Eastern Australia," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 25(02), August.
    32. Briys, Eric & Eeckhoudt, Louis, 1985. "Relative Risk Aversion in Comparative Statics: Comment," American Economic Review, American Economic Association, vol. 75(1), pages 281-83, March.
    33. Lau, Lawrence J, 1976. "A Note on Elasticity of Substitution Functions," Review of Economic Studies, Wiley Blackwell, vol. 43(2), pages 353-58, June.
    34. Bond, Gary E. & Wonder, Bernard, 1980. "Risk Attitudes Amongst Australian Farmers," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 24(01), April.
    35. Griffiths, William E., 1986. "A Bayesian Framework For Optimal Input Allocation With An Uncertain Stochastic Production Function," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 30(02-03).
    36. Francisco, Emilio M. & Anderson, Jock R., 1972. "Chance And Choice West Of The Darling," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 16(02), August.
    37. Quiggin, John, 1982. "A Note on the Existence of a Competitive Optimal Output," The Economic Record, The Economic Society of Australia, vol. 58(161), pages 174-76, June.
    38. Kulatilaka, Nalin, 1985. "Tests on the validity of static equilibrium models," Journal of Econometrics, Elsevier, vol. 28(2), pages 253-268, May.
    39. Jorgenson, Dale W & Lau, Lawrence J, 1974. "The Duality of Technology and Economic Behaviour," Review of Economic Studies, Wiley Blackwell, vol. 41(2), pages 181-200, April.
    40. Fisher, Franklin M, 1982. "Aggregate Production Functions Revisited: The Mobility of Capital and the Rigidity of Thought," Review of Economic Studies, Wiley Blackwell, vol. 49(4), pages 615-26, October.
    41. Berndt, Ernst R & Christensen, Laurits R, 1974. "Testing for the Existence of a Consistent Aggregate Index of Labor Inputs," American Economic Review, American Economic Association, vol. 64(3), pages 391-404, June.
    42. Katz, Eliakim, 1983. "Relative Risk Aversion in Comparative Statics," American Economic Review, American Economic Association, vol. 73(3), pages 452-53, June.
    43. Baron, David P, 1970. "Price Uncertainty, Utility, and Industry Equilibrium in Pure Competition," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 11(3), pages 463-80, October.
    44. Lopez, Ramon E, 1985. "Structural Implications of a Class of Flexible Functional Forms for Profit Functions," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 26(3), pages 593-601, October.
    45. McLaren, Keith R & Cooper, Russel J, 1980. "Intertemporal Duality: Application to the Theory of the Firm," Econometrica, Econometric Society, vol. 48(7), pages 1755-62, November.
    46. Marc Nerlove, 1979. "The Dynamics of Supply: Retrospect and Prospect," Discussion Papers 394, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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    Cited by:
    1. Adams, Philip D., 1988. "Some Comparisons of Recent Estimates of Agricultural Supply Elasticities for the Australian Economy," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 56(03), December.
    2. Yu, Bingxin & Fan, Shenggen, 2009. "Rice Production Response in Cambodia," 2009 Conference, August 16-22, 2009, Beijing, China 51042, International Association of Agricultural Economists.
    3. Agbola, Frank W., 2005. "Optimal intertemporal investment in Australian agriculture: An empirical investigation," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 6(2), August.

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