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On Nonparametric Supply Response Analysis
Author(s) -
Chavas JeanPaul,
Cox Thomas L.
Publication year - 1995
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 - 10.2307/1243891
Subject(s) - nonparametric statistics , econometrics , production (economics) , economics , production theory , supply and demand , microeconomics , computer science
In this paper, we explore the usefulness of nonparametric methods in the investigation of production behavior and the estimation of price elasticities of output supply and input demand functions. The approach can handle the situation where some data points are not consistent with production theory. The method is illustrated by estimating supply‐demand elasticities of outputs and inputs in U.S. agriculture.