nonparametric methods to test the adherence of individual farm’s production choices to profit maximization objective. Results … indicate that none of the farms consistently satisfy the joint hypothesis of profit maximization. The study took into account …. Departures of observed data of individual farms from profit maximization objectives were attributed more due to stochastic …

may be satisfied even if no underlying deterministic supply function is rationalizable in terms of profit maximization … predictive content of the classical theory of competitive firm behavior from its a priori roots in profit maximization, while …

This paper tests the farm level profit maximization hypothesis using a nonparametric production analysis approach … Profit Maximization (WAPM). The magnitude of minimum critical standard errors required for consistency with profit … maximization, convex technology production was smaller after allowing technological change during the sample period. Results …

may be satisfied even if no underlying deterministic supply function is rationalizable in terms of profit maximization … predictive content of the classical theory of competitive firm behavior from its a priori roots in profit maximization, while …IZA DP No. 4018 Supply Theory sans Profit-Maximization Indraneel Dasgupta DISCUSSION P APER SERIES Forschungsinstitut …