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Aggregation of data and profit maximization in Mexican agriculture

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  • Shon P. Williams
  • C. Richard Shumway

Abstract

Nonparametric support for two important hypotheses relevant to econometric model specification is examined. Results of various nonparametric tests for behavioural objective and aggregation level of Mexican agricultural production data are reported. The evidence does not refute the hypothesis that producers behave collectively as though they are a price-taking, profit-maximizing firm. The empirical results also support exhaustive aggregation of input categories. Aggregation possibilities among outputs are fewer and are highly sensitive to the rejection criterion.

Suggested Citation

  • Shon P. Williams & C. Richard Shumway, 1998. "Aggregation of data and profit maximization in Mexican agriculture," Applied Economics, Taylor & Francis Journals, vol. 30(2), pages 235-244, February.
    • Handle: RePEc:taf:applec:v:30:y:1998:i:2:p:235-244
    DOI: 10.1080/000368498326038
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    Cited by:

    1. Anastassiadis, Friederike & Mußhoff, Oliver, 2013. "Evaluating the role of financial flexibility in farmers' investment decisions using latent class analysis," 87th Annual Conference, April 8-10, 2013, Warwick University, Coventry, UK 158707, Agricultural Economics Society.
    2. Salvator Nkunzimana & H. Alan Love & C. Richard Shumway, 2003. "Mexican agricultural trade under the GATT," Applied Economics, Taylor & Francis Journals, vol. 35(4), pages 449-459.
    3. Qinghua Liu & C. Richard Shumway, 2004. "Testing aggregation consistency across geography and commodities," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 48(3), pages 463-486, September.
    4. Ma, Hengyun & Rae, Allan N. & Huang, Jikun, 2004. "Livestock Productivity In China: Data Revision And Total Factor Productivity Decomposition," China Agriculture Project Working Papers 23691, Massey University, Centre for Applied Economics and Policy Studies.
    5. Yumei Liu & Wuyang Hu & Simon Jetté-Nantel & Zhihong Tian, 2014. "The Influence of Labor Price Change on Agricultural Machinery Usage in Chinese Agriculture," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 62(2), pages 219-243, June.
    6. Yacob Abrehe Zereyesus & Allen M. Featherstone & Michael R. Langemeier, 2021. "Are Kansas farms profit maximizers? A stochastic additive error approach," Agricultural Economics, International Association of Agricultural Economists, vol. 52(1), pages 37-50, January.

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