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A Nonparametric Approach to Expenditure-Constrained Profit Maximization

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  • Rolf Färe
  • Shawna Grosskopf
  • Hyunok Lee

Abstract

A nonparametric approach to expenditure-constrained profit maximization is developed. A deterministic frontier profit function is constructed with and without expenditure constraints. Foregone profit is used as dual evidence for the existence of expenditure constraints. Individual evaluations on performance and expenditure constraints are produced. Empirical analysis is based on survey data for California rice farms. Seventeen of the eighty-two surveyed farms experience profit loss as a result of expenditure constraints.

Suggested Citation

  • Rolf Färe & Shawna Grosskopf & Hyunok Lee, 1990. "A Nonparametric Approach to Expenditure-Constrained Profit Maximization," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 72(3), pages 574-581.
    • Handle: RePEc:oup:ajagec:v:72:y:1990:i:3:p:574-581.
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    File URL: http://hdl.handle.net/10.2307/1243026
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