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An Examination Of The Empirical Properties Of Duality Between The Restricted Profit, Unrestricted Profit, And Production Functions

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  • Lusk, Jayson L.
  • Abdulkadri, Abdullahi O.
  • Featherstone, Allen M.

Abstract

This research examines the empirical properties of duality theory. A comparison of the Hessian matrices calculated from the normalized unrestricted and restricted profit, and production functions indicate that duality is highly sensitive to measurement error and relative price variability.

Suggested Citation

  • Lusk, Jayson L. & Abdulkadri, Abdullahi O. & Featherstone, Allen M., 1999. "An Examination Of The Empirical Properties Of Duality Between The Restricted Profit, Unrestricted Profit, And Production Functions," 1999 Annual meeting, August 8-11, Nashville, TN 21718, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea99:21718
    DOI: 10.22004/ag.econ.21718
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    File URL: https://ageconsearch.umn.edu/record/21718/files/sp99lu02.pdf
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    References listed on IDEAS

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    1. Lau, Lawrence J., 1976. "A characterization of the normalized restricted profit function," Journal of Economic Theory, Elsevier, vol. 12(1), pages 131-163, February.
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    Cited by:

    1. Allen, Keighton R. & Fullerton, Thomas M., Jr., 2018. "Analyzing Small Industrial and Commercial User Demand for Electricity," MPRA Paper 98988, University Library of Munich, Germany, revised 22 Oct 2018.
    2. Chaovanapoonphol, Yaovarate & Battese, George E. & Chang, Hui-Shung (Christie), 2005. "The Impact of Rural Financial Services on the Technical Efficiency of Rice Farmers in the Upper North of Thailand," 2005 Conference (49th), February 9-11, 2005, Coff's Harbour, Australia 137811, Australian Agricultural and Resource Economics Society.

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