By Bruce L. Gardner, Gordon C. Rausser
This primary quantity of the "Handbook of Agricultural Economics" offers paintings on themes principal to the economics of agriculture: the quantitative illustration of know-how; industry expectancies; loved ones creation behaviour; customer behaviour with doubtful caliber and security of products; and problems with imperfect pageant in foodstuff advertising. quantity 1A treats concerns in agricultural construction, representing the implications of many years of labor deepening and widening the unique concentration of agricultural economics on farm administration. as well as the idea and estimation of creation and provide behaviour in agriculture, chapters are dedicated to issues on which significant developments were made: technological switch; returns to agricultural examine; the commercial constitution of agriculture, land associations and markets; and human capital and finance. chapters are additional really good to rural labour and family concerns: migration and the function of girls in constructing nations.
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Extra info for Handbook of Agricultural Economics. Volume 1A: Agricultural Production. Handbooks in Economics 18
Heuristically speaking, duality means that by following some rules (optimization), one can move from a production function to dual functions (or behavioral functions, namely product supply and factor demand) and return to the original function. 28 Thus knowing the production function, it is possible to move to the behavioral functions and vice versa. This is a simple journey under selfduality when both the technology and the dual functions have closed-form expressions. Examples are the Cobb-Douglas or the CES functions.
1988, p. 334)]. 42 More important, "[s]ymmetry of price parameters in the system of Equations (1) and (2) was not preserved in the national aggregation" (p. 334, footnote 2). The findings also support the proposition that shocks affect land expansion and land augmentation in the same direction: "All five outputs increase as the quantity of real estates services increase . . All variable inputs are complements to real estates. Half are complements to family labor, and a third are complements to other variable inputs" (p.
42 The standard errors for the aggregated coefficients were obtained under the assumption of independence of the regional estimates and as such are an approximation. National shocks affect all regions, and therefore their coefficients are jointly affected and thereby correlated. This may be the reason for the difference in significance levels. Ch. l: Production and Supply 39 The findings show that both family labor and capital have a strong positive effect on the supply of cereals, milk, and animal products.