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A Note on Threshold Factor Level(s) and Stone-Geary Technology

Author

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  • Beattie, Bruce R.
  • Aradhyula, Satheesh

Abstract

This article proposes the parsimonious Stone-Geary utility function from consumer choice theory as a production function model. The viability of the threshold input idea is empirically demonstrated for irrigation water (and in the case of nitrogen, a “gratis” threshold) using two field trials from the famous Hexem-Heady data sets. The implications of the Stone-Geary model for tractable U-shaped average variable cost and for factor demand and product supply are explored.

Suggested Citation

  • Beattie, Bruce R. & Aradhyula, Satheesh, 2015. "A Note on Threshold Factor Level(s) and Stone-Geary Technology," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 47(4), July.
    • Handle: RePEc:ags:joaaec:349018
    DOI: 10.22004/ag.econ.349018
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