Production Decision licking in an Adaptive Mode

This paper presents a general theory which reconciles agent maximizing behavior with alternative assumptions and provides a theoretical basis for X-Efficiency behavior by indicating conditions where maximization may not result in an optimal solution. An empirical application substantiates the significance of considering X-Efficiency behavior and illustrates its usefulness in policy analysis.


Issue Date:
Aug 01 1988
Publication Type:
Conference Paper/ Presentation
Record Identifier:
http://ageconsearch.umn.edu/record/270189
Language:
English
Total Pages:
19




 Record created 2018-03-29, last modified 2018-03-29

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