If a production process is characterized by a homogeneous production function, the conditions required for profit maximization imply that the elasticity of demand for each input must be elastic with respect to output price. This restriction limits the usefulness of these functions in empirical...

In this edition: Setting Research Priorities in the Public Sector: A Suggested Framework for the AARC Center; Estimating the US Demand for Sugar in the Presence of Measurement Error in the Data; Price Elasticities Implied by Homogenous Production Fuctions

GAO (1988) reports that approximately one-half of the eligible nonparticipants did not think they were eligible nonparticipants did not think they were eligible for the Food Stamp Program (FSP). These nonparticipants are denoted as "outreach households". Past studies (GAO, 1990. Coe) imply that...

The potential for investment by nonfarm investors in US farm equity is estimated by applying a micro-model of the nonfarm equity market to USDA's Farm Costs and Returns Survey. The analysis indicates a potential market from farm operators of approximately $9 billion. Establishment of real estate...

An argument can be made for public support of pre-commercial research and development (R&D) when private industry, acting in response to market incentives, underinvests in socially desireable projects. Research projects meeting this criterion must still compete for scarce public funds. The...

Inaccuracy in the measurement of the price data for the substitute sweeteners for sugar is a problem encountered in the estimation of the demand for sugar. Two diagnostics are introduced to assess the effect that this measurement error has on the estimated coefficients of the sugar demand...

The results of this study suggest that a variety of regulations in the meat packing industry had significant, and sometimes unexpected, effects. The specific results of regulatory event testing show that many regulatory changes produce large significant impacts on the meat processing industry,...