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Production economics: Worthwhile investment?
Author(s) -
Shumway C. Richard
Publication year - 1993
Publication title -
agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.29
H-Index - 82
eISSN - 1574-0862
pISSN - 0169-5150
DOI - 10.1111/j.1574-0862.1993.tb00260.x
Subject(s) - stylized fact , economics , investment (military) , production (economics) , work (physics) , agricultural productivity , neoclassical economics , agriculture , microeconomics , macroeconomics , political science , engineering , mechanical engineering , politics , law , ecology , biology
Agricultural production economics research is examined within a broad framework of scientific development and utilization. Recent findings in selected areas of the subdiscipline are examined and opportunities for further fruitful inquiry are identified. A few 'stylized facts' emerge from recent work and suggest the need for much careful hypothesis testing, model exploration, and empirical sensitivity analysis in the future.