Discovering Production and Supply Relationships: Present Status and Future Opportunities

Richard E. Just

49 citations0/0 files storedRePEc: Research Papers in Economics

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Agricultural economics and policies Economics of Agriculture and Food Markets Agricultural Economics and Practices

Abstract

In this paper the current state of supply modelling in agriculture is reviewed. It is argued that (I) the stock of knowledge of elasticities is depreciating, (2) historical estimates are misleading because many phenomena are confounded in few parameters, (3) available data are not being efficiently exploited, and (4) a proliferation of hypotheses is leading to an inability to discriminate in an appropriately comprehensive context. The latter problem is leading to an inability to do forward-looking analyses. Several suggestions are made for dealing with these problems that involve some relaxation of the standard of objectivity which in reality is unattainable in many kinds of practical applied work.

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References

1982A theory of anticipated utility 1998Rhetoric of Economics 1974The Measurement of Technical Change Biases with Many Factors of Production 1977Estimating Agricultural Supply Response with the Nerlove Model: A Survey 1980Futures Markets and the Theory of the Firm Under Price Uncertainty 1988Accounting for Changes in Tastes 1987Additive General Error Models for Production, Cost, and Derived Demand or Share Systems

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