Modeling Supply Response in a Multiproduct Framework
对农业中的多产品供给反应进行建模，检验了传统供给反应研究中的关键假设，发现拒绝产出价格和数量指数满足可加性的假设，也拒绝每种产出存在独立生产函数的假设，表明忽略联合生产会低估特定商品对价格变化的反应。
Abstract The paper models multiproduct supply response in agriculture and tests key assumptions traditionally maintained in supply response studies. The technology is approximated by a restricted profit function. The properties of the restricted profit function are imposed during estimation. The hypothesis that maintains the existence of output price and quantity indexes that satisfy the adding‐up property is rejected. The existence of individual production functions for each output is also rejected. Unless joint production is permitted, the estimates of responsiveness of a particular commodity to changes in own price or prices of competing outputs are likely to be considerably understated.