|
|
|
|
| |
|
|
| Luh, Yir-Hueih; Stefanou, Spiro E.. |
| The model of production decision making for the expected utility maximizing firm under output price uncertainty is applied to a panel Pennsylvania dairy operators. The model generalized duality implemented in this paper has the advantage of generating a system of supply and variable factor demand functions that consistently account for the presence of output price risk. The application to Pennsylvania dairy operators indicates that output price risk measured by the second and third moments of individual operators' historical output price series is not an important factor in production decision making. In addition to not maximizing expected utility, these operators are not expected profit maximizers. |
| Tipo: Journal Article |
Palavras-chave: Livestock Production/Industries. |
| Ano: 1989 |
URL: http://purl.umn.edu/28872 |
| |
|
|
| Luh, Yir-Hueih. |
| This study proposes an integrated approach to measuring the broader definition of scale economies proposed by Morrison and Siegel. The paper attempts to tackle the three unsolved problems in Morrison and Siegel, and thus will offer a methodological refinement and in the meantime make a significant contribution to the literature. Calculation of the total scale economies measures suggest Taiwan¡¦s production technology exhibit long-run increasing returns to scale in the presence of external economies. A comparison of the conventional measure of scale economies indicate a possible downward bias when short-run fixity as well as external economies from high-tech capital investment, R&E and human capital, are not explicitly recognized. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 2006 |
URL: http://purl.umn.edu/21232 |
| |
|
|
|
