Perverse supply response in agriculture : the importance of produced means of production and uncertainty

著者

書誌事項

Perverse supply response in agriculture : the importance of produced means of production and uncertainty

Adam Ozanne

Avebury, c1992

大学図書館所蔵 件 / 全2件

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注記

Based on the author's thesis (Ph.D.--University of Manchester, 1990)

Bibliography: p. 158-175

内容説明・目次

内容説明

The law of supply is one of the simplest and most powerful predictions of neoclassical economic theory. However, like all theories, it is based upon a number of assumptions, departure from which may jeopardise its predictions. This book investigates such departures and the possibility that they may result in "perverse" supply response in agriculture. Two areas in particular are examined, concerning uncertainty and Sraffian produced means of production. Insufficient evidence is found to support the argument that uncertainty and risk aversion lead to perversity, at least in U.S. agriculture; while, although an apparently perverse aggregate supply response is indentified in U.K. agriculture, this arises from failure to take account of produced inputs. Thus, the overall conclusion drawn from this work is that farmers, at least in developed countries, do respond normally to price incentives.

目次

  • The neoclassical theory of production - a summary - introduction
  • the neoclassical theory of production
  • duality
  • the law of supply
  • the law of supply - unstated assumptions and possible breakdown
  • literature review - introduction
  • naive models of supply response
  • peasant production
  • the target income hypothesis, own-consumption and the marketed surplus, agricultural household models, peasant production - conclusion, Sraffian economics and produced means of production
  • uncertainty and risk aversion
  • produced inputs, aggregation and perversity - introduction
  • comparative statics with produced means of production
  • separability and aggregation
  • aggregate supply response without produced inputs
  • aggregate supply response with produced inputs
  • produced inputs and perversity in UK agriculture - a simulation exercise using the Manchester policy model - introduction
  • index numbers
  • the Manchester Agricultural Policy Simulation (MAPS) model
  • general description, aggregation procedure, simulation results
  • discussion of simulation results and conclusion
  • uncertainty, duality and perversity - introduction
  • uncertainty and risk - von Neumann-Morgenstern utility theory
  • attitude towards risk, the constant absolute risk aversion utility function, duality and uncertainty
  • the envelope theorem and an arbitrary utility function
  • the envelope theorem and the constant absolute risk aversion utility function, uncertainty and perversity - Baron's hypothesis
  • a stochastic model of production
  • modelling assumptions, the proposed model, regularity conditions, conclusion
  • a stochastic model of US agriculture - introduction, the data, the convexity problem, the quasi-CES function, the empirical model, output supply and input demand elasticities, empirical results, conclusion
  • conclusion - summary
  • limitations and suggestions for further research
  • final comments.

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