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Production Efficiency Analysis with A Farm-Level Average-Cost Characteristic Curves

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  • Lawanprasert, Aroon
  • Debertin, David L.

Abstract

Farm Program analysis often involves the measurement of production efficiency. This paper presents a theoretical model that can be used to measure the farm-level long-run and short-run production efficiency. It also provides unbiased estimates of the minimum cost of producing an output within an enterprise. The model is a computationally feasible approach that can be applied to agricultural data from primary and secondary sources.

Suggested Citation

  • Lawanprasert, Aroon & Debertin, David L., 1987. "Production Efficiency Analysis with A Farm-Level Average-Cost Characteristic Curves," 1987 Annual Meeting, August 2-5, East Lansing, Michigan 269947, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea87:269947
    DOI: 10.22004/ag.econ.269947
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    References listed on IDEAS

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    1. Hanoch, Giora & Rothschild, Michael, 1972. "Testing the Assumptions of Production Theory: A Nonparametric Approach," Journal of Political Economy, University of Chicago Press, vol. 80(2), pages 256-275, March-Apr.
    2. W. E. Diewert, 1973. "Afriat and Revealed Preference Theory," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 40(3), pages 419-425.
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