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A Nonparametric Analysis of Cost Minimization and Profit Maximization Behavior for a Sample of Kansas Farms


  • Moghnieh, Ghassan A.
  • Featherstone, Allen M.
  • Goodwin, Barry K.


This study investigates nonparametrically the optimizing behavior of a sample of 289 Kansas farms under profit-maximizing and cost-minimizing hypotheses. The results do not support strict adherence to either optimization hypothesis. However, evidence against cost-minimizing behavior seems to be far less substantial than that against profit-maximizing behavior.

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  • Moghnieh, Ghassan A. & Featherstone, Allen M. & Goodwin, Barry K., 1991. "A Nonparametric Analysis of Cost Minimization and Profit Maximization Behavior for a Sample of Kansas Farms," Staff Papers 118197, Kansas State University, Department of Agricultural Economics.
  • Handle: RePEc:ags:ksaesp:118197

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    References listed on IDEAS

    1. Hanoch, Giora & Rothschild, Michael, 1972. "Testing the Assumptions of Production Theory: A Nonparametric Approach," Journal of Political Economy, University of Chicago Press, vol. 80(2), pages 256-275, March-Apr.
    2. Varian, Hal R., 1985. "Non-parametric analysis of optimizing behavior with measurement error," Journal of Econometrics, Elsevier, vol. 30(1-2), pages 445-458.
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    Agricultural Finance; Farm Management;


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