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Implicit Netput Functions


  • Rulon D. Pope
  • Jeffrey T. LaFrance


This paper proposes a new way to empirically model netput functions. It argues for the flexibility and rationality of specifying netputs as a function of competitive prices, fixed inputs, and restricted profit. We call these implicit netput functions because they depend on restricted profit. Doing so invites the adoption of recent developments in consumer theory to production theory. New aggregable forms are investigated and applied to U.S. agricultural production illustrating the benefits of this approach.

Suggested Citation

  • Rulon D. Pope & Jeffrey T. LaFrance, 2012. "Implicit Netput Functions," Monash Economics Working Papers 01-12, Monash University, Department of Economics.
  • Handle: RePEc:mos:moswps:2012-01

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    References listed on IDEAS

    1. Russell, Thomas & Farris, Frank, 1993. "The geometric structure of some systems of demand equations," Journal of Mathematical Economics, Elsevier, vol. 22(4), pages 309-325.
    2. Russell, Thomas, 1983. "On a theorem of Gorman," Economics Letters, Elsevier, vol. 11(3), pages 223-224.
    3. J. E. Stiglitz, 1999. "Introduction," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 28(3), pages 249-254, November.
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    More about this item


    aggregation; production; implicit netputs;

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis

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