IDEAS home Printed from https://ideas.repec.org/p/ags/aaea99/21718.html

An Examination Of The Empirical Properties Of Duality Between The Restricted Profit, Unrestricted Profit, And Production Functions

Author

Listed:
  • Lusk, Jayson L.
  • Abdulkadri, Abdullahi O.
  • Featherstone, Allen M.

Abstract

This research examines the empirical properties of duality theory. A comparison of the Hessian matrices calculated from the normalized unrestricted and restricted profit, and production functions indicate that duality is highly sensitive to measurement error and relative price variability.

Suggested Citation

  • Lusk, Jayson L. & Abdulkadri, Abdullahi O. & Featherstone, Allen M., 1999. "An Examination Of The Empirical Properties Of Duality Between The Restricted Profit, Unrestricted Profit, And Production Functions," 1999 Annual meeting, August 8-11, Nashville, TN 21718, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea99:21718
    DOI: 10.22004/ag.econ.21718
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/21718/files/sp99lu02.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.21718?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Lau, Lawrence J., 1976. "A characterization of the normalized restricted profit function," Journal of Economic Theory, Elsevier, vol. 12(1), pages 131-163, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Allen, Keighton R. & Fullerton, Thomas M., Jr., 2018. "Analyzing Small Industrial and Commercial User Demand for Electricity," MPRA Paper 98988, University Library of Munich, Germany, revised 22 Oct 2018.
    2. Chaovanapoonphol, Yaovarate & Battese, George E. & Chang, Hui-Shung (Christie), 2005. "The Impact of Rural Financial Services on the Technical Efficiency of Rice Farmers in the Upper North of Thailand," 2005 Conference (49th), February 9-11, 2005, Coff's Harbour, Australia 137811, Australian Agricultural and Resource Economics Society.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lee, Myunghun, 2011. "Measurement of market power for the environmentally regulated Korean iron and steel manufacturing industry," Resources Policy, Elsevier, vol. 36(3), pages 249-254, September.
    2. Herve Guyomard & Louis Pascal Mahe & . Societe Francaise d'Economie Rurale, 1989. "Théorie du producteur en présence de rationnements : application aux quotas laitiers en Europe," Post-Print hal-02854851, HAL.
    3. Nadiri, M. Ishaq & Prucha, Ingmar R., 1990. "Dynamic factor demand models, productivity measurement, and rates of return: Theory and an empirical application to the US Bell System," Structural Change and Economic Dynamics, Elsevier, vol. 1(2), pages 263-289, December.
    4. E. Martínez-Budría & S. Jara-Díaz & F. Ramos-Real, 2003. "Adapting Productivity Theory to the Quadratic Cost Function. An Application to the Spanish Electric Sector," Journal of Productivity Analysis, Springer, vol. 20(2), pages 213-229, September.
    5. Rodríguez, Xosé A. & Arias, Carlos & Rodríguez-González, Ana, 2015. "Physical versus economic depletion of a nonrenewable natural resource," Resources Policy, Elsevier, vol. 46(P2), pages 161-166.
    6. Michael Caputo, 1994. "The Slutsky matrix and homogeneity in intertemporal consumer theory," Journal of Economics, Springer, vol. 60(3), pages 255-279, October.
    7. Saleem Shaik, 2014. "Re-examination of production, cost, and restricted profit functions using quantile regression approach," Agricultural Economics, International Association of Agricultural Economists, vol. 45(2), pages 199-212, March.
    8. Khademvatani, Asgar & Gordon, Daniel V., 2013. "A marginal measure of energy efficiency: The shadow value," Energy Economics, Elsevier, vol. 38(C), pages 153-159.
    9. Moschini, GianCarlo, 2001. "Production risk and the estimation of ex-ante cost functions," Journal of Econometrics, Elsevier, vol. 100(2), pages 357-380, February.
    10. Squires, Dale, 2016. "Firm behavior under quantity controls: The theory of virtual quantities," Journal of Environmental Economics and Management, Elsevier, vol. 79(C), pages 70-86.
    11. Paul Schreyer, 2021. "Framing Measurement Beyond GDP," CEPA Working Papers Series WP172021, School of Economics, University of Queensland, Australia.
    12. Xavier Delache & Herve Guyomard & Louis Pascal Mahe & Xavier Irz, 1994. "A micro-econometric analysis of milk quota transfer : application to France," Post-Print hal-01600204, HAL.
    13. Pan, Shihua, 1990. "The microfoundations of mixed system of planning and markets: some theoretical considerations and an empirical analysis of the Chinese agriculture," ISU General Staff Papers 1990010108000010876, Iowa State University, Department of Economics.
    14. Fernandez-Cornejo, Jorge, 1996. "The Microeconomic Impact Of Ipm Adoption: Theory And Application," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 25(2), pages 1-12, October.
    15. Dominique Vermersch, 1989. "L'allocation du travail dans les exploitations céréalières," Économie et Prévision, Programme National Persée, vol. 91(5), pages 57-65.
    16. Du, Minzhe & Liu, Yunxiao & Wang, Bing & Lee, Myunghun & Zhang, Ning, 2021. "The sources of regulated productivity in Chinese power plants: An estimation of the restricted cost function combined with DEA approach," Energy Economics, Elsevier, vol. 100(C).
    17. Heinrich Becker & Herve Guyomard & Louis Pascal Mahe, 1990. "Regional impact of CAP adjustment in France and Germany : a simulation study of price and quota changes," Post-Print hal-01600223, HAL.
    18. H. Guyomard & L. P. Mahé & C. Tavéra & T. Trochet, 1991. "Technical Change And Ec‐Us Agricultural Trade Liberalisation," Journal of Agricultural Economics, Wiley Blackwell, vol. 42(2), pages 119-137, May.
    19. Phoebe Koundouri & Anastasios Xepapadeas, 2004. "Estimating accounting prices for common pool natural resources: A distance function approach," DEOS Working Papers 0405, Athens University of Economics and Business.
    20. M. Ishaq Nadiri & Mark Schankerman, 1980. "Variable Cost Functions and the Rate of Return to Quasi-Fixed Factors: An Application to R and D in the Bell System," NBER Working Papers 0597, National Bureau of Economic Research, Inc.

    More about this item

    Keywords

    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aaea99:21718. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.