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Supply functions in the ubiquitous Gorman class are examined for their homogeneity properties. Homogeneity places surprisingly strong restrictions on functional forms. These forms facilitate testing of aggregability given homogeneity or homogeneity given aggregability or testing both
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Agricultural production is subject to supply risk. Expected and realized farm outputs and output prices are unknown and unobservable when inputs are chosen. Crop and livestock production decisions are linked over time. Producers expectations are particularly difficult to model. This paper...
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