Tests of the profit‐maximisation hypothesis: A study of Indian agriculture
利用印度旁遮普省费罗兹普尔地区1969/70年的农场管理数据，检验新古典竞争利润函数模型，发现该模型表现很差，需要探索其他研究路径。
Abstract The paper presents econometric tests of a neoclassical competitive profit function model using Farm Management Studies data from the Ferozepur district of Punjab (India) for 1969/70. The aim of the paper is twofold: firstly, to test for differences in production and market behaviour of small (tenant) and large (owner) farms, and secondly, to test the validity of competitive profit‐maximising models for the agricultural sector of a less developed country. The model is estimated by Zellner's ‘Seemingly Unrelated Regressions’ method with restrictions within and across equations. Our results suggest that the neoclassical model works very poorly and that we need to explore alternative avenues of research. Notes University of Essex. I should like to thank the Nuffield Foundation for financial support for this research, and the Indian Ministry of Agriculture for giving me access to the Farm Management Studies data. I should also like to thank Mr. N. Dastoor and Mrs. Rachel Britton for competent research assistance. Earlier versions of this paper were presented to seminars at Essex and Hull, and the contributions of the participants are acknowledged. I am grateful to Professor Michael Lipton for constructive comments. None of the above is, of course, responsible for my prejudices or for any remaining errors.