An Atemporal Microeconomic Theory and an Empirical Test of Price-Induced Technical Progress
An exhaustive comparative statics analysis of a general price taking cost-minimizing model of the firm operating under the influence of price-induced technical progress is carried out from a dual vista. The resulting refutable implications are observable and thus amenable to empirical verification, and take on the form of a symmetric and negative semidefinite matrix. Using data from individual cotton gins in California’s San Joaquin Valley, we empirically test the complete set of implications of the price-induced technical progress theory using both classical and Bayesian statistical procedures. We find that the data are fully consistent with the atemporal, cost-minimizing, price-induced microeconomic theory of technical progress. Copyright Springer Science+Business Media, Inc. 2005
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 24 (2005)
Issue (Month): 3 (November)
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/economics/microeconomics/journal/11123/PS2|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sexton, Richard J. & Wilson, Brooks M. & Wann, Joyce J., 1989. "Some Tests Of The Economic Theory Of Cooperatives: Methodology And Application To Cotton Ginning," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 14(01), July.
- Hirsch, Werner Z, 1969. "Technological Progress and Microeconomic Theory," American Economic Review, American Economic Association, vol. 59(2), pages 36-43, May.
- Pinar Celikkol & Spiro Stefanou, 1999. "Measuring the Impact of Price-Induced Innovation on Technological Progress: Application to the U.S. Food Processing and Distribution Sector," Journal of Productivity Analysis, Springer, vol. 12(2), pages 135-151, September.
- Geweke, John, 1986. "Exact Inference in the Inequality Constrained Normal Linear Regression Model," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 1(2), pages 127-141, April.
- Samuelson, Paul A & Sato, Ryuzo, 1984. "Unattainability of Integrability and Definiteness Conditions in the General Case of Demand for Money and Goods," American Economic Review, American Economic Association, vol. 74(4), pages 588-604, September.
- Quirino Paris & Michael R. Caputo, 2001. "Price-induced technical progress and comparative statics," Economics Bulletin, AccessEcon, vol. 15(8), pages 1-8.
- Lilyan E. Fulginiti & Richard K. Perrin, 1992.
"Prices and Productivity in Agriculture,"
Food and Agricultural Policy Research Institute (FAPRI) Publications
93-gatt2, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University.
- Lilyan E. Fulginiti & Richard K. Perrin, 1992. "Prices and Productivity in Agriculture," Center for Agricultural and Rural Development (CARD) Publications 93-gatt2, Center for Agricultural and Rural Development (CARD) at Iowa State University.
- Fulginiti, Lilyan E. & Perrin, Richard K., 1992. "Prices and Productivity in Agriculture," Staff General Research Papers Archive 543, Iowa State University, Department of Economics.
- Fulginiti, Lilyan E. & Perrin, Richard K., 1993. "Prices and Productivity in Agriculture," Staff General Research Papers Archive 773, Iowa State University, Department of Economics.
- Paris, Quirino & Caputo, Michael R., 2001. "Comparative Statics Of Money-Goods Specifications Of The Utility Function," Working Papers 11953, University of California, Davis, Department of Agricultural and Resource Economics.
- A Oude Lansink & E Silva & S Stefanou, 2000. "Decomposing productivity growth allowing efficiency gains and price-induced technical progress," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 27(4), pages 497-518, December.
- Silberberg, Eugene, 1974. "A revision of comparative statics methodology in economics, or, how to do comparative statics on the back of an envelope," Journal of Economic Theory, Elsevier, vol. 7(2), pages 159-172, February.
- Paris, Quirino & Caputo, Michael R., 1995. "The Rhetoric Of Duality," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(01), July.
- McFadden, Daniel, 1978. "Cost, Revenue, and Profit Functions," Histoy of Economic Thought Chapters, in: Fuss, Melvyn & McFadden, Daniel (ed.), Production Economics: A Dual Approach to Theory and Applications, volume 1, chapter 1 McMaster University Archive for the History of Economic Thought.
- Adam Jaffe & Richard Newell & Robert Stavins, 2002. "Environmental Policy and Technological Change," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 22(1), pages 41-70, June.
When requesting a correction, please mention this item's handle: RePEc:kap:jproda:v:24:y:2005:i:3:p:259-281. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.