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.

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Year of publication:	2004
Authors:	Detre, Joshua D. ; Foster, Kenneth A.
Institutions:	Agricultural and Applied Economics Association - AAEA
Subject:	Research Methods/ Statistical Methods

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Extent:	application/pdf
Series:	2004 Annual meeting, August 1-4, Denver, CO.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 2004 Annual meeting, August 1-4, Denver, CO Number 20087
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005500398