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Multiproduct Production Choices And Policy Response

Author

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  • McIntosh, Christopher S.
  • Shumway, C. Richard

Abstract

A restricted profit function model of California agriculture is specified and estimated subject to prior information provided by economic theory. Symmetry, homogeneity, and convexity of the profit function are maintained in the estimation. Parameter estimates and elasticities are presented for four input and 10 output equations. Tests of the hypotheses of nonjointness in inputs and Hicks-neutral technical change in variable inputs and outputs are rejected. The impacts of decoupling agricultural program payments are examined.

Suggested Citation

  • 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.
    • Handle: RePEc:ags:wjagec:32610
    DOI: 10.22004/ag.econ.32610
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    References listed on IDEAS

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    Cited by:

    1. Poison, Rudolph A. & Shumway, C. Richard, 1992. "Production Relationships in South Central Agriculture," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 24(2), pages 121-135, December.
    2. Kivanda, Lena & Fox, Glenn, "undated". "Falsification and the Practice of Agricultural Production Economists: A Methodological Assessment," Department of Agricultural Economics and Business 258724, University of Guelph.
    3. Arnade, Carlos Anthony & Cooper, Joseph, 2013. "Price Expectations and Supply Response," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150490, Agricultural and Applied Economics Association.
    4. Perekhozhuk, Oleksandr, 2007. "Marktstruktur und Preisbildung auf dem ukrainischen Markt für Rohmilch," Studies on the Agricultural and Food Sector in Transition Economies, Leibniz Institute of Agricultural Development in Transition Economies (IAMO), volume 41, number 92322.
    5. Msangi, Siwa & Rosegrant, Mark, 2007. "A Closer Look at the IMPACT of Climate Change on Country-Level Food Security and Nutrition," Conference papers 331635, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.

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