INDIRECT UTILITY FUNCTIONS AND TESTABLE CONDITIONS

We develop testable hypotheses for utility maximization given risk averse producers based on a general specification of the utility function. This is a direct expansion of the model posed by Pope (1978). Empirical tests using production data with a translog specification indicate that utility maximization does not always hold.


Issue Date:
2004
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/20087
Total Pages:
18
Series Statement:
Selected Paper




 Record created 2017-04-01, last modified 2017-04-26

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