Article contents
Factor Demands of Louisiana Rice Producers: An Econometric Investigation
Published online by Cambridge University Press: 28 April 2015
Abstract
A Diewert-flexible (dual) cost function was used to derive a system of conditional factor demand equations for Louisiana rice producers. Generalized Leontief cost and factor share equations were fitted for the 1955-87 period using Zellner's SURE system estimation procedure. The Aitken parameter estimates reveal that: (1) the optimal input mix of rice farmers varies with production scale, (2) the factor-augmenting technical change is labor and chemical saving but seed using, (3) pairwise input substitutions are limited, and (4) factor demands are own-price inelastic. An implication is that Louisiana rice farmers will not appreciably alter their factor utilizations when relative input prices change.
Keywords
- Type
- Submitted Articles
- Information
- Copyright
- Copyright © Southern Agricultural Economics Association 1988
References
- 2
- Cited by