IDEAS home Printed from https://ideas.repec.org/a/oup/ajagec/v51y1969i1p170-178..html
   My bibliography  Save this article

Reliability of Supply Equations Derived from Production Functions

Author

Listed:
  • Larry J. Wipf
  • D. Lee Bawden

Abstract

This paper examines the reliability of supply functions derived from empirically estimated production functions. Firm-level supply equations are derived from production functions for selected agricultural commodities, and these are used to predict firm output and to estimate supply elasticities. The results are then compared with actual or expected output and with supply elasticities estimated directly by regression analysis of time series data. Output predictions ranged from slight under-estimates to extreme over-estimates of actual output, with the latter being most prevalent. The derived supply elasticities were generally higher than those obtained by direct regression analysis.

Suggested Citation

  • Larry J. Wipf & D. Lee Bawden, 1969. "Reliability of Supply Equations Derived from Production Functions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 51(1), pages 170-178.
    • Handle: RePEc:oup:ajagec:v:51:y:1969:i:1:p:170-178.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2307/1238313
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Colman, David R., 1983. "A Review of the Arts of Supply Response Analysis," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 51(03), pages 1-30, December.
    2. Jensen, Harald R., 1977. "PART I. Farm Management and Production Economics, 1946-70," AAEA Monographs, Agricultural and Applied Economics Association, number 337213, january.
    3. Tomek, William G. & Robinson, Kenneth L., 1977. "PART V. Agricultural Price Analysis and Outlook," AAEA Monographs, Agricultural and Applied Economics Association, number 337217, january.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:ajagec:v:51:y:1969:i:1:p:170-178.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://edirc.repec.org/data/aaeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.