We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
PROFIT MAXIMIZATION, RETURNS TO SCALE, AND MEASUREMENT ERROR.
- Authors
Lim, Hongil; Shumway, C. Richard
- Abstract
Abstract--A nonparametric analysis of agricultural production behavior was conducted for each of the contiguous 48 states for the period 1956-1982 under the joint hypothesis of profit maximization, convex technology, and nonregressive technical change. Tests were conducted in each state for profit maximization and for constant returns to scale. Although considerable variability was observed among states, measurement errors of magnitudes common in secondary data yielded test results fully consistent with the profit-maximization hypothesis in all states with complete output and input data.
- Subjects
AGRICULTURAL productivity; CORPORATE profits; PROFIT; PROFIT maximization; INPUT-output analysis; PROFITABILITY; AGRICULTURE; HYPOTHESIS
- Publication
Review of Economics & Statistics, 1992, Vol 74, Issue 3, p430
- ISSN
0034-6535
- Publication type
Article
- DOI
10.2307/2109487