Do New York Dairy Farmers Maximize Profits?
Varian's Weak Axiom of Profit Maximization was used to determine whether each of 49 New York dairy farms displayed behavior consistent with profit maximization. The results indicate that most were only moderately successful in maximizing profits. Characteristics of the farms did not strongly differentiate those that were better at maximizing profits.
|Date of creation:||May 1994|
|Contact details of provider:|| Postal: Warren Hall, Ithaca NY 14853|
Web page: http://aem.cornell.edu/
More information through EDIRC
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.:
- Tauer, Loren W. & Belbase, Krishna P., 1987. "Technical Efficiency Of New York Dairy Farms," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 16(1), April.
- Tauer, Loren W., 1993.
"Short-Run And Long-Run Efficiencies Of New York Dairy Farms,"
Agricultural and Resource Economics Review,
Northeastern Agricultural and Resource Economics Association, vol. 22(1), April.
- Tauer, Loren W., 1993. "Short-Run and Long-Run Efficiencies of New York Dairy Farms," Agricultural and Resource Economics Review, Cambridge University Press, vol. 22(01), pages 1-9, April.
- Simon, Herbert A., 1984. "On the behavioral and rational foundations of economic dynamics," Journal of Economic Behavior & Organization, Elsevier, vol. 5(1), pages 35-55, March.
- Varian, Hal R, 1984. "The Nonparametric Approach to Production Analysis," Econometrica, Econometric Society, vol. 52(3), pages 579-597, May.
- Joseph E. Stiglitz, 1991. "Symposium on Organizations and Economics," Journal of Economic Perspectives, American Economic Association, vol. 5(2), pages 15-24, Spring.
- Afriat, Sidney N, 1972. "Efficiency Estimation of Production Function," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 13(3), pages 568-598, October.
- Chris Fawson & C. Richard Shumway, 1988. "A Nonparametric Investigation of Agricultural Production Behavior for U.S. Subregions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(2), pages 311-317. Full references (including those not matched with items on IDEAS)