Transactions Costs and Agricultural Household Supply Response
构建并估计了一个考虑交易成本的供给反应模型，区分了固定和比例交易成本，利用墨西哥玉米生产者的数据，检验了两类交易成本对市场参与和供给弹性的影响。
Abstract We develop and estimate a model of supply response when transactions costs create a situation where some producers buy, others sell, and others do not participate in markets. We present two rationales for why producing households may have different relationships to the market: proportional and fixed transactions costs. Using data on Mexican corn producers, we estimate an empirical model that allows for separate tests of the significance of both types of transactions costs, revealing that both fixed and proportional transactions costs matter for the estimation. The results provide consistent estimates of supply elasticity and measures of the relative importance of factors determining both proportional and fixed transactions costs.