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Texas Field Crops: Estimation With Curvature

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  • Shumway, C. Richard
  • Alexander, William P.
  • Talpaz, Hovav

Abstract

Some implications of theory are easily maintained in econometric estimation, but computational costs of maintaining curvature properties (sufficient for existence of an optimal solution) have often proved prohibitive. They also have been violated frequently by unrestricted econometric estimates. A computationally manageable procedure for maintaining and testing curvature is used here to obtain estimates of product supplies and input demands for Texas field crops consistent with the theory of the competitive industry. The curvature properties are tested along with several technology restrictions.

Suggested Citation

  • Shumway, C. Richard & Alexander, William P. & Talpaz, Hovav, 1990. "Texas Field Crops: Estimation With Curvature," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 15(1), pages 1-10, July.
    • Handle: RePEc:ags:wjagec:32502
    DOI: 10.22004/ag.econ.32502
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    References listed on IDEAS

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    Cited by:

    1. McIntosh, Christopher S. & Shumway, C. Richard, 1991. "Multiproduct Production Choices And Policy Response," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(2), pages 1-13, December.
    2. Kivanda, Lena & Fox, Glenn, 1993. "Falsification and the Practice of Agricultural Production Economists: A Methodological Assessment," Department of Agricultural Economics and Business 258724, University of Guelph.
    3. Polson, Rudolph A. & Shumway, C. Richard, 1992. "Production Relationships In South Central Agriculture," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 24(2), pages 1-15, December.
    4. C. Richard Shumway, 1993. "Production economics: Worthwhile investment?," Agricultural Economics, International Association of Agricultural Economists, vol. 9(2), pages 89-108, August.
    5. Coyle, Barry T., 1993. "On Modeling Systems Of Crop Acreage Demands," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 18(1), pages 1-13, July.
    6. Nadine Herrard & Yves Le Roux & Yves Surry & . Département d'Ecnomie Et de Sociologie Rurales, Rennes, 1996. "A bayesian analysis of trade in agri-food products : an application to France," Post-Print hal-02354663, HAL.

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    Keywords

    Crop Production/Industries;

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