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An Examination Of The Empirical Properties Of Duality Between The Restricted Profit, Unrestricted Profit, And Production Functions

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Author Info
Lusk, Jayson L.
Abdulkadri, Abdullahi O.
Featherstone, Allen M.

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Abstract

This research examines the empirical properties of duality theory. A comparison of the Hessian matrices calculated from the normalized unrestricted and restricted profit, and production functions indicate that duality is highly sensitive to measurement error and relative price variability. Keywords: duality, restricted and unrestricted profit functions

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Publisher Info
Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 1999 Annual meeting, August 8-11, Nashville, TN with number 21718.

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Date of creation: 1999
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Handle: RePEc:ags:aaea99:21718

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Related research
Keywords: duality; restricted and unrestricted profit functions; Demand and Price Analysis; Production Economics;

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  1. Lau, Lawrence J., 1976. "A characterization of the normalized restricted profit function," Journal of Economic Theory, Elsevier, vol. 12(1), pages 131-163, February. [Downloadable!] (restricted)
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