Do New York Dairy Farmers Maximize Profits?

Varian's Weak Axiom of Profit Maximization was used to determine whether each of 49 New York dairy farms displayed behavior consistent with profit maximization. The results indicate that most were only moderately successful in maximizing profits. Characteristics of the farms did not strongly differentiate those that were better at maximizing profits.

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Year of publication:	1994-05
Authors:	Tauer, Loren W.
Institutions:	Charles H. Dyson School of Applied Economics and Management, Cornell University
Subject:	Agribusiness \| Livestock Production/Industries

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Extent:	application/pdf
Series:	Staff Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Department of Applied Economics and Management>Staff Papers Number 121318
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009653801