Do New York Dairy Farmers Maximize Profits?

Varian's Weak Axiom of Profit Maximization was used to determine whether each of 49 New York dairy farms displayed behavior consistent with profit maximization. The results indicate that most were only moderately successful in maximizing profits. Characteristics of the farms did not strongly differentiate those that were better at maximizing profits.


Issue Date:
1994-05
Publication Type:
Working or Discussion Paper
Record Identifier:
http://ageconsearch.umn.edu/record/121318
PURL Identifier:
http://purl.umn.edu/121318
Total Pages:
17
Series Statement:
SP 94-07




 Record created 2017-04-01, last modified 2018-01-22

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