In this paper, we assess how production costs and capital accumulation patterns in agriculture have evolved over time, by paying special attention to the influence of risk. A dynamic state-contingent cost-minimisation approach is applied to assess production decisions in US agriculture over the...

This paper develops primal and dual versions of the dynamic Luenberger productivity growth measures that are based on the dynamic directional distance function and intertemporal cost minimization, respectively. The empirical application focuses on panel data of Dutch dairy farms over the period...