@article{Featherstone:173724,
      recid = {173724},
      author = {Featherstone, Allen M. and Moghnieh, Ghassan A. and  Goodwin, Barry K.},
      title = {Farm-level nonparametric analysis of cost-minimization and  profit-maximization behavior},
      journal = {Agricultural Economics: The Journal of the International  Association of Agricultural Economists},
      address = {1995-11},
      number = {968-2016-75533},
      pages = {10},
      year = {1995},
      abstract = {This study investigates non-parametrically the optimizing  behavior of a sample of 289 Kansas farms  under
profit-maximization and cost-minimization hypotheses.  The study uses both deterministic and stochastic  non-parametric
tests. The deterministic results do not  support strict adherence to either optimization hypothesis.  The
stochastic tests suggest that all 289 farms fail the  profit-maximization hypothesis, whereas 171 farms failed  the
cost-minimization hypothesis. Allowing for  non-regressive technical change does not alter the basic  results; 276
farms violate the profit-maximization  hypothesis and 138 violate the cost-minimization  hypothesis. The evidence
against cost-minimization behavior  seems to be far less substantial than that against  profit-maximization behavior.},
      url = {http://ageconsearch.umn.edu/record/173724},
      doi = {https://doi.org/10.22004/ag.econ.173724},
}