A Nonparametric Analysis of Cost Minimization and Profit Maximization Behavior for a Sample of Kansas Farms
AbstractThis study investigates nonparametrically the optimizing behavior of a sample of 289 Kansas farms under profit-maximizing and cost-minimizing hypotheses. The results do not support strict adherence to either optimization hypothesis. However, evidence against cost-minimizing behavior seems to be far less substantial than that against profit-maximizing behavior.
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Bibliographic InfoPaper provided by Kansas State University, Department of Agricultural Economics in its series Staff Papers with number 118197.
Date of creation: Jul 1991
Date of revision:
Agricultural Finance; Farm Management;
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- Varian, Hal R., 1985. "Non-parametric analysis of optimizing behavior with measurement error," Journal of Econometrics, Elsevier, vol. 30(1-2), pages 445-458.
- Hanoch, Giora & Rothschild, Michael, 1972. "Testing the Assumptions of Production Theory: A Nonparametric Approach," Journal of Political Economy, University of Chicago Press, vol. 80(2), pages 256-75, March-Apr.
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