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The Role of Education in the Dynamics of Supply
Author(s) -
Petzel Todd E.
Publication year - 1978
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1239941
Subject(s) - dynamics (music) , economics , economic geography , sociology , pedagogy
This paper offers a synthesis of Nerlovian supply dynamics and the recent work on the role of education in entrepreneurial decision making. The model is tested by looking at the dynamics of soybean supply for U.S. counties from 1947 to 1973. Rates of adjustment to long‐run equilibrium are found to depend on several variables, including education of the decision maker.