Production Economics and Farm Management: A Century of Contributions

This article is a reflection on the path taken by production economics and farm management over the last century, and the progress made in understanding the economics of the farm. The accumulated knowledge has helped refine our assessment of the efficiency of farm management decisions and the evolving role of agriculture in modern society. Copyright 2010, Oxford University Press.

[1]  N. Whittlesey,et al.  Measurement of U.S. agricultural productivity: a review of current statistics and proposals for change. , 1980 .

[2]  G. Judge,et al.  Agricultural Production Functions. , 1961 .

[3]  H. L. Moore A Moving Equilibrium of Demand and Supply , 1925 .

[4]  B. Coyle,et al.  Risk Aversion and Yield Uncertainty in Duality Models of Production: A Mean‐Variance Approach , 1999 .

[5]  Richard H. Day,et al.  Probability Distributions of Field Crop Yields , 1965 .

[6]  Jock R. Anderson,et al.  Sparse Data, Estimational Reliability, and Risk-Efficient Decisions , 1974 .

[7]  R. Evenson The Contribution of Agricultural Research to Production , 1967 .

[8]  Stanley R. Johnson,et al.  Bounded Price Variation and Rational Expectations in an Endogenous Switching Model of the U.S. Corn Market , 1989 .

[9]  Alain de Janvry,et al.  Optimal Share Contracts with Moral Hazard on Effort and in Output Reporting: Managing the Double Laffer Curve Effect , 2006 .

[10]  Y. Mundlak Specification and Estimation of Multiproduct Production Functions , 1963 .

[11]  Zvi Griliches,et al.  Specification Bias in Estimates of Production Functions , 1957 .

[12]  R. Weaver Multiple Input, Multiple Output Production Choices and Technology in the U.S. Wheat Region , 1983 .

[13]  K. Vind A foundation for statistics , 2003 .

[14]  J Stebbins,et al.  Law of Diminishing Returns , 1944, Encyclopedia of Parallel Computing.

[15]  Jack Meyer,et al.  Two Moment Decision Models And Expected Utility Maximization: Some Implications For Applied Research , 1988 .

[16]  R. Chambers Valuing Agricultural Insurance , 2007 .

[17]  A. U.S.,et al.  FORMULATION AND ESTIMATION OF STOCHASTIC FRONTIER PRODUCTION FUNCTION MODELS , 2001 .

[18]  W. J. Spillman Use of the Exponential Yield Curve in Fertilizer Experiments , 1933 .

[19]  R. Bellman,et al.  Linear Programming and Economic Analysis. , 1960 .

[20]  Aroop K. Mahanty,et al.  THEORY OF PRODUCTION , 1980 .

[21]  H. Jensen Farm Management and Production Economics, 1946-70 , 1977 .

[22]  Agapi Somwaru,et al.  Agricultural Productivity Revisited , 1997 .

[23]  N. Kaldor,et al.  A Classificatory Note on the Determinateness of Equilibrium , 1934 .

[24]  R. Freund THE INTRODUCTION OF RISK INTO A PROGRAMMING MODEL , 1956 .

[25]  A. Schmitz,et al.  Mechanized Agriculture and Social Welfare: The Case of the Tomato Harvester , 1970 .

[26]  Pinhas Zusman,et al.  Simulation: A Tool for Farm Planning under Conditions of Weather Uncertainty , 1965 .

[27]  J. Chavas On information and market dynamics: The case of the U.S. beef market , 2000 .

[28]  R. Just,et al.  Stochastic specification of production functions and economic implications , 1978 .

[29]  R. Officer,et al.  Utility Analysis in a Practical Setting , 1968 .

[30]  J. Muth Rational Expectations and the Theory of Price Movements , 1961 .

[31]  D. Aigner,et al.  P. Schmidt, 1977,?Formulation and estimation of stochastic frontier production function models,? , 1977 .

[32]  Z. Eckstein A Rational Expectations Model of Agricultural Supply , 1984, Journal of Political Economy.

[33]  Glen T. Barton,et al.  Relation of Agricultural Production to Inputs , 1948 .

[34]  J. Antle Testing The Stochastic Structure Of Production: A Flexible Moment-Based Approach , 1983 .

[35]  Earl O. Heady,et al.  Economics of Farm Leasing Systems , 1947 .

[36]  Aleksei Savatyugin,et al.  The History of Economic Analysis , 2002 .

[37]  L. Lau,et al.  A Test for Relative Efficiency and Application to Indian Agriculture , 1971 .

[38]  R. Just,et al.  Adverse Selection in Crop Insurance: Actuarial and Asymmetric Information Incentives , 1999 .

[39]  H. G. Halcrow Actuarial Structures for Crop Insurance , 1949 .

[40]  Y. Hayami,et al.  Agricultural Development: An International Perspective. , 1972 .

[41]  B. Gardner,et al.  Experience with crop insurance programs in the United States , 1986 .

[42]  Harold O. Carter,et al.  An Application of Statistical Decision Theory to Commercial Turkey Production , 1967 .

[43]  Oscar R. Burt,et al.  Optimal Replacement under Risk , 1965 .

[44]  B. Goodwin An Empirical Analysis of the Demand for Multiple Peril Crop Insurance , 1993 .

[45]  R. Pope To Dual or Not to Dual , 1982 .

[46]  G. Tintner A Note on the Derivation of Production Functions from Farm Records , 1944 .

[47]  Michael Aliber,et al.  An Analysis of the Source and Nature of Technical Change: The Case of U.S. Agriculture , 1997, Review of Economics and Statistics.

[48]  Theodore W. Schultz,et al.  The Value of the Ability to Deal with Disequilibria , 1975 .

[49]  W. J. Spillman Law of the Diminishing Increment in the Fattening of Steers and Hogs , 1924 .

[50]  Richard E. Howitt,et al.  Positive Mathematical Programming , 1995 .

[51]  D. Allen,et al.  The Nature of the Farm: Contracts, Risk, and Organization in Agriculture , 2003 .

[52]  S. Lence Using Consumption and Asset Return Data to Estimate Farmers' Time Preferences and Risk Attitudes , 2000 .

[53]  Moses Abramovitz,et al.  Resources and Output Trends in the United States since 1870. , 1957 .

[54]  R. Just,et al.  A comprehensive assessment of the role of risk in U.S. agriculture , 2002 .

[55]  Peter B. R. Hazell,et al.  A Linear Alternative to Quadratic and Semivariance Programming for Farm Planning under Uncertainty , 1971 .

[56]  Larry S. Karp,et al.  Range Management under Uncertainty , 1984 .

[57]  Z. Griliches The Demand for Fertilizer: An Economic Interpretation of a Technical Change , 1958 .

[58]  Paul L. Fackler,et al.  Applied Computational Economics and Finance , 2002 .

[59]  M. Bulmer The Cost of Subsistence , 1994 .

[60]  J. Roumasset,et al.  Agency Costs and the Agricultural Firm , 1987 .

[61]  Joseph E. Stiglitz,et al.  Incentives and Risk Sharing in Sharecropping , 1974 .

[62]  Bruce F. Hall,et al.  Farm Size and Economic Efficiency: The Case of California , 1978 .

[63]  Noel Roy,et al.  What Do Statistical Demand Curves Show? A Monte Carlo Study of the Effects of Single Equation Estimation of Groundfish Demand Functions , 1991 .

[64]  Dale W. Jorgenson,et al.  Productivity Growth in U.S. Agriculture: A Postwar Perspective , 1992 .

[65]  H. P. Binswanger Attitudes toward risk: Experimental measurement in rural india , 1980 .

[66]  M. Holt,et al.  Economic Behavior under Uncertainty: A Joint Analysis of Risk Preferences and Technology , 1996 .

[67]  Marc Nerlove,et al.  The Dynamics of Supply: Estimation of Farmers' Response to Price. , 1960 .

[68]  D. Allen,et al.  Customs and Incentives in Contracts , 2009 .

[69]  Kevin M. Murphy,et al.  Cattle Cycles , 1993, Journal of Political Economy.

[70]  Steven Cheung The theory of share tenancy , 1970 .

[71]  J. Thornley The Analysis of Response in Crop and Livestock Production. , 1990 .

[72]  H. Askari,et al.  Estimating Agricultural Supply Response with the Nerlove Model: A Survey , 1977 .

[73]  V. Ruttan Technology, Growth, and Development: An Induced Innovation Perspective , 2000 .

[74]  Marc A. Johnson,et al.  An Opportunity Cost View of Fixed Asset Theory and the Overproduction Trap , 1982 .

[75]  J. Quiggin A theory of anticipated utility , 1982 .

[76]  R. Just An Investigation of the Importance of Risk in Farmers' Decisions , 1974 .

[77]  Z. Griliches The Demand for Inputs in Agriculture and a Derived Supply Elasticity , 1959 .

[78]  Rainer. Schickele Effect of Tenure Systems on Agricultural Efficiency , 1941 .

[79]  G. Battese,et al.  Prediction of firm-level technical efficiencies with a generalized frontier production function and panel data , 1988 .

[80]  W. J. Spillman Application of the Law of Diminishing Returns to Some Fertilizer and Feed Data , 1923 .

[81]  Marc Nerlove,et al.  RETURNS TO SCALE IN ELECTRICITY SUPPLY , 1961 .

[82]  D. Johnson Resource Allocation under Share Contracts , 1950, Journal of Political Economy.

[83]  Zvi Griliches,et al.  The Sources of Measured Productivity Growth: United States Agriculture, 1940-60 , 1963, Journal of Political Economy.

[84]  John Quiggin,et al.  Cost Functions and Duality for Stochastic Technologies , 1998 .

[85]  Theodore W. Schultz,et al.  Theory of the Firm and Farm Management Research , 1939 .

[86]  H. L. Moore Forecasting the yield and the price of cotton , 1917 .

[87]  J. Pratt RISK AVERSION IN THE SMALL AND IN THE LARGE11This research was supported by the National Science Foundation (grant NSF-G24035). Reproduction in whole or in part is permitted for any purpose of the United States Government. , 1964 .

[88]  P. Derfler,et al.  The United States Department of Agriculture , 1872, Nature.

[89]  R. Chambers,et al.  Testing Asset Fixity for U.S. Agriculture , 1983 .

[90]  P. Zusman,et al.  A bargaining theoretic approach to cropsharing contracts , 1976 .

[91]  J. Stiglitz,et al.  Cost-Sharing Arrangements under Sharecropping: Moral Hazard, Incentive Flexibility, and Risk , 1986 .

[92]  E. Rowland Theory of Games and Economic Behavior , 1946, Nature.

[93]  B. F. Stanton Changes in Farm Size and Structure in American Agriculture in the Twentieth Century , 1990 .

[94]  Jean-Paul Chavas,et al.  Applied Production Analysis: A Dual Approach , 1988 .

[95]  W. Cochrane,et al.  Farm prices, myth and reality , 1958 .

[96]  Walter Diewert,et al.  Exact and superlative index numbers , 1976 .

[97]  V. E. Ball,et al.  Output, Input, and Productivity Measurement in U.S. Agriculture 1948–79 , 1985 .

[98]  E. Heady Diversification in Resource Allocation and Minimization of Income Variability , 1952 .

[99]  G. Tintner,et al.  Production Functions Derived from Farm Records , 1944 .

[100]  Frederick V. Waugh,et al.  The Minimum-Cost Dairy FeedAn Application of “Linear Programming” , 1951 .

[101]  George J. Stigler,et al.  Essays in the History of Economics , 1965 .

[102]  C. Hildreth Problems of Uncertainty in Farm Planning , 1957 .

[103]  Mordecai Ezekiel,et al.  The Cobweb Theorem , 2010 .

[104]  K. Arrow,et al.  Capital-labor substitution and economic efficiency , 1961 .

[105]  Hans P. Binswanger,et al.  The Measurement Of Technical Change Biases With Many Factors Of Production , 1973 .

[106]  A. Hallam The competitive firm's response to risk , 1987 .

[107]  J. Dillon,et al.  Agricultural Decision Analysis , 1977 .

[108]  W. Fuller Stochastic Fertilizer Production Functions for Continuous Corn , 1965 .

[109]  E. Boserup The conditions of agricultural growth: The economics of agrarian change under population pressure , 1966 .

[110]  L. Jarvis Cattle as Capital Goods and Ranchers as Portfolio Managers: An Application to the Argentine Cattle Sector , 1974, Journal of Political Economy.

[111]  L. Lau,et al.  A Test for Relative Economic Efficiency: Some Further Results , 1973 .

[112]  Lawrence J. Lau,et al.  Profit, Supply, and Factor Demand Functions , 1972 .

[113]  R. Shephard Cost and production functions , 1953 .

[114]  J. Antle Econometric Estimation of Producers' Risk Attitudes , 1987 .

[115]  M. E. Abel,et al.  The Overproduction Trap in U.S. Agriculture , 1972 .

[116]  T. Schultz Reflections on Agricultural Production, Output and Supply , 1956 .

[117]  Arne Thesen LINEAR PROGRAMMING METHODS , 1978 .

[118]  James Kliebenstein,et al.  Modeling Dynamic Agricultural Production Response: The Case of Swine Production , 1985 .

[119]  J. Chavas A Cost Approach to Economic Analysis Under State‐Contingent Production Uncertainty , 2008 .

[120]  Oscar R. Burt,et al.  Farm Management Decisions With Dynamic Programming , 1963 .

[121]  W. Griffiths,et al.  Estimating State‐Contingent Production Frontiers , 2006 .

[122]  J. Sauer Natural Disasters and Agriculture: Individual Risk Preferences towards Flooding , 2011 .

[123]  Z. Griliches HYBRID CORN: AN EXPLORATION IN THE ECONOMIC OF TECHNOLOGICAL CHANGE , 1957 .

[124]  Yair Mundlak,et al.  Empirical Production Function Free of Management Bias , 1961 .

[125]  R. Myers Econometric testing for risk averse behaviour in agriculture , 1989 .

[126]  F. E. Principles of Economics , 1890, Nature.

[127]  K. Arrow,et al.  Aspects of the theory of risk-bearing , 1966 .

[128]  G. Battese,et al.  ESTIMATION OF A PRODUCTION FRONTIER MODEL: WITH APPLICATION TO THE PASTORAL ZONE OF EASTERN AUSTRALIA , 1977 .

[129]  Hans P. Binswanger,et al.  A Cost Function Approach to the Measurement of Elasticities of Factor Demand and Elasticities of Substitution , 1974 .

[130]  William W. Lin,et al.  An Empirical Test of Utility vs. Profit Maximization in Agricultural Production , 1974 .

[131]  Robert E. Evenson,et al.  Science for Agriculture: A Long-Term Perspective , 1993 .

[132]  W. Huffman Allocative Efficiency: The Role of Human Capital , 1977 .

[133]  Y. Hayami,et al.  Land and Labor Contracts in Agrarian Economies: Theories and Facts , 1992 .